How to Bet on March Madness

Alisa Barladyan
30 Mar 2021
16:41
Article
March Madness
March Madness

If you watch NCAA Basketball games and especially if you make bets on them you most definitely know what March Madness is. It’s one of the most expected events in sports which automatically makes March bettors’ favorite month of the year. So today we are going to learn what makes it so popular and how can you bet on it.

How does March Madness work?

March Madness is the 68 team single-elimination tournament which culminates in a Division I basketball team being crowned National Champion. But before this happens 32 teams automatically qualify and another 36 are filled by “at-large” teams. They play 67 games in a 19-day period. So that’s pretty much why it is called Madness.

Types of March Madness bets

March Madness offers single-game bets as well as multiple-game bets for about any taste possible. Below we’ll break down the most popular wagers on this event.

Moneyline

Moneyline allows bettors to choose the outright winner of the game rather than pick a given spread. Players should always remember to shop for the best moneyline price because it can be totally different from bookie to bookie. So, in moneyline the sportsbook sets the line representing the favorite and the underdog. For example: team A has a favored line of -170 and team B has the underdog line of +200. Meaning that if you decide to back team A you need to wager $170 to win $100. And if you back team B with a $100 bet you might win $200. As you can see there’s nothing difficult about it.

Point spread

When speaking about the point spread the bookie sets the spread with a favorite (-) and an underdog (+) with a number next to it called juice (usually -105), which basically means that a winning bet of $105 will payout $100. When betting on point spread you want to cover the spread. For example: Team A scored 6 and team B scored 5 at a spread of (-4.5) and (+4.5) respectively. So in this case team A covered the spread by winning by more than 5 points (6>5). Did you get the idea? And if team A was to score 4 while team B scored 3 we could say that team B was the one to cover the spread by losing by less than 4 points. It only sounds difficult, but once you practice it gets a lot easier.

Totals

Totals or under/over bets are all about the final score. No need to worry about covering the spread. For example: The bookie sets the odds at 115. Players should predict whether the score will be over or under 115. So let’s say team A and team B scored together 110 points. This means that an under bet won (110<115). And if teams were to score 120 that would mean that an over bet won. (120>115).

Parlays

Parlay bets include bets on two or more games. Parlays may include any combination of moneyline, point spread or totals. For example: You want to make a bet on team A covering the spread of (-6) and at the same time make an over bet of 122 points. Parlays allow you to bet on this combination and many more others with up to 6 legs. Pay attention that all the legs must win for you to actually win the bet.

Teasers

Teasers are even cooler than parlays because they allow you to tease the spread. This means the bookie gives players some extra points. Why would it do that? Well, because if you win you’ll be paid a reduced payout for this “favor”. So let’s imagine that the bookie gives you 3 points. So if the initial spread on a team in a game was -7, the teaser would reduce it to -4. You may tease multiple legs just like when placing a parlay bet.

Other bets (futures, prop bets)

For those preferring something more unique and original, there are prop bets and futures bets available on March Madness games.

Futures

Every bettor has a chance to make an NCAA futures bet. Of course, this bet will be tight to the March Madness event. The earlier you’ll make your bet the higher the chances of doing it at good odds. Most popular futures bets will definitely include bets on the team to win the championship. So, don’t hesitate to place your bet as soon as the odds are available.

Proposition bets

Proposition bets or prop bets will most likely include bets on will a big ten team win the tournament or will a big east team do that? or bet on the player to score first points, or which conference will the tournament champion come from and so on. These bets are a little bit similar to the futures only that they imply betting on whether something will happen in the game.

Where to bet on March Madness?

Definitely check all the major bookies like DraftKings, FanDuel, BetStars. Not only they offer great betting markets, but also cool March Madness bonuses. Make sure your bookie offers decent odds and worth betting lines. Pick a reliable bookie with March Madness betting experience and NCAA Basketball games in general. If you are a fan of live-betting which is one of the main features of a respected bookie check beforehand that this service along with live-streaming is being provided. And if you use a mobile platform for your bets read some reviews to see if the bookie is good at it and generally if it is a user friendly sportsbook.

Conclusion

Now that betting on NCAA games is legal in eight states, March Madness is becoming more appealing to bettors. This amator sport is not that high scoring and professional, but you’ll definitely love betting on it. March Madness betting action is something to be seen! The amount of money bet (legally) on this event easily surpasses the Super Ball! So, it’s really up to you whether you feel ready to join in or not. With the right bookie and the right guidance there’s nothing to be afraid of when betting on this sport because it is in many ways similar to the others.