Last season, an estimated $2.72 billion — yes, billion — was bet on March Madness. This shouldn’t come as a shock, either, as the NCAA is getting a lot of love in the US. Men’s final viewership has been increasing year-by-year for a while now, while viewership for the women’s game skyrocketed 89% in 2023, making it the most-watched women’s basketball game in history.
So, if you’re one of the millions of new fans that have caught March Madness fever, you might be interested in betting on it, too. After all, betting is now a huge part of the basketball fan experience, which is true across both the NCAA and NBA. Whenever there’s a big event like March Madness taking place, fans want to bet on it.
With that covered, let’s take a closer look at everything you need to know about March Madness, including:
- Where to bet on March Madness
- The different types of March Madness bets
- March madness betting strategies
As soon as you’re ready, dive into the details below and get started.
🏀 💸 March Madness Betting Guide
What is March Madness Betting?
March Madness is the main betting event in the world of college basketball. Both the men’s and women’s NCAA tournaments have 68 teams, starting with the ‘First Four’ and ending with the title game several weeks later. During this time, you can bet on any game you like (e.g. Duke vs NC State). Altogether, 67 games are played across a single-elimination format. If you lose, you’re out. It’s extremely popular for fans to bet on games ahead of time, while others will place ‘live bets’ while teams are out on the court.
Where to Bet on March Madness
With the 2024-25 NCAA season currently underway, it won’t be long before March Madness arrives. When it does, the awesome news is that it will be super easy to bet on. As things stand, you have two options:
- Online sportsbooks
- Social sportsbooks
Online sportsbooks are the most popular option when it comes to March Madness betting. You have DraftKings, FanDuel, and so many other other sports betting sites that you can sign-up with if you want to bet on this season’s March Madness. Whichever site you join, you’ll need to make a deposit (e.g. $10), activate any bonus offers, and start placing your bets.
The next option is to use a social sportsbook. There’s been an exciting rise in social sportsbooks over the past few seasons, with lots of basketball fans choosing to join them. The difference with social sportsbooks is that you place bets using virtual coins — not real money. This makes them a great option for college basketball fans who simply want to bet just for the fun of it without any actual financial risk involved.
The Different Types of March Madness Bets
One of the main reasons why March Madness betting is so popular is because there are so many types of bets you can place. Some of the main March Madness bets include:
- Moneylines
- Futures
- Parlays
- Props
- Live bets
For example, last season, the game between North Carolina and Michigan State attracted the most money wagered, with many fans opting to place simple moneyline bets on which team they thought was going to win. This caused Caesars Sportsbook and Fanatics Sportsbook to both take huge losses during the first four days of the tournament, as lots of basketball fans won big.
If you’re a beginner bettor, it’s recommended that you start with simple moneyline bets. All you have to do is look at the different brackets, see which teams are playing against each other, and choose who you want to bet on to win. After that, you might then want to start experimenting with other bets, too, such live bets. For instance, if Auburn are playing Yale, you might place a live bet in the 2nd quarter that Auburb are going to win by 3 points or more. And if you do decide to do some live betting, you’ll find that it’s fast-paced and odds change all the time based on in-game events, so make sure you’re locked in.
March Madness Betting Strategies
When March Madness arrives, it’s highly recommended you follow specific strategies rather than place wild bets with no thought or structure. This way, you can manage your bankroll more effectively and also give yourself a better chance at winning. Really, it’s a no-brainer. So, to get you on the road to success, here are a few betting strategies you should keep in mind:
- Bet On the Favourites
The NCAA is quite unique in the fact that the favourites typically win most of the time. Excluding the March Madness 2023, where the UConn Huskies won the tournament, each of the previous five March Madness champions were all #1 seeds. For example, when the Kansas Jayhawks won in 2022, they were already the favourites heading into the event. What you can take from this is that betting on the tournament favourite is usually a good strategy when it comes to March Madness, with the Auburn Tigers (+900) sitting as current favourites for the 2025 incarnation of March Madness. However, it’s generally recommended you wait until the tournament begins until you bet on the favourite, as it’s entirely possible that the Auburn Tigers will experience a dip in form in the months building up to the event, which would then see them removed as favourites.
- Look for Live Betting Boosts
During March Madness, it’s very common for games to receive ‘odds boosts’. The way this works is that specific odds get increased, making the potential payout much higher than it normally would be. For example, one site might offer a 50% boost on Alabama to beat Clemson just before the game starts. Whenever you see a profitable odds boost like this, it’s an excellent idea to take advantage of it, especially if the boosted odds are for the favourite team.
- Be Aware of “Home-Court Advantage”
In March Madness, home-court advantage is a very real thing. Last year, every single host team won in the first round of the women’s tournament, so you’ll definitely want to keep this in mind when planning your future bets. And why exactly is home-court advantage legit? Well, it’s mainly because of the home crowds, but it also has to do with the fact that the away teams are often jet lagged or tired from the travel.
Conclusion
March Madness is only a few months away. Ahead of the biggest event of the year in college basketball, it’s a great idea to sign-up with a sports betting site, set yourself a March Madness budget, and start planning your bets. Remember, you can even start now by betting on which team you think is going to win the championship ahead of time. You can also wait for the event to begin, watch games on TV, and place ‘live’ bets on the in-game action. The options are endless, so make sure you gamble responsibly.
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