How to Bet on March Madness? The NCAA men’s college basketball tournament – called “March Madness” for the chaos that ensues each year – has become one of the most popular sports betting events on the calendar.
For years, people have bet money casually by filling out brackets for office pools. As recently as 2018, though, there was only one state in the U.S. where you could legally bet on the games, and that was Nevada.
That has now expanded to 38 as well as the District of Columbia – and there are only eight of those 38 that do not allow online betting. There are some states that don’t allow you to place wagers on college teams from those particular states.
In other states, though, the rules are much more liberal, allowing bets on the outcome of all college games as well as a variety of player and team props.
This has become big business indeed – in 2023, legal wagering sites saw more than $121 billion wagered on all sports, up 30 percent from 2022, according to the American Gaming Association.
The books made about $11 billion in revenue off those wagers. On the 2024 NCAA men’s and women’s basketball tournaments alone, people wagered approximately $2.7 billion.
With the two brackets featuring 136 teams playing 134 games over a three-week period, that’s a ton of betting action.
Are you interested in March Madness betting as a fun way to blow some money, or are you looking to make some cash off this event?
If you’re looking to build your betting account this March, read on to get some tips about how to manage this event.
College Basketball Odds: How to Bet on March Madness
How to Maximize Your March Madness Profits
Remember that champions have balance
Are you considering a team that consistently scores 100 points but doesn’t dominate? Or one that maintains opponents below 65 points yet struggles with outside shooting? Successful teams possess strong defense and reliable shooters for clutch three-pointers. They may lack towering players but can defend the rim effectively. One-dimensional teams might reach the Sweet 16 or Elite Eight, but their limitations will ultimately lead to elimination from the tournament.
^The “experts” aren’t always the ones who have done the research
Numerous sports websites offer March Madness brackets with expert picks, leading casual bettors to rely on influencers like Stephen A. Smith. It’s vital to understand that such figures often choose teams based on reputation, not research. For reliable advice, seek knowledgeable analysts instead.
Advanced metrics matter
Some argue that game vibes and intangibles matter more than metrics. However, KenPom’s algorithms demonstrate a higher success rate in point spread predictions. The newer NET Ranking system lacks a solid track record. For this March Madness, if KenPom indicates that an underdog team is better than a favored team, we’ll confidently choose the underdog.
There are “home-court” games in the men’s tournament
The NIT features higher seeds hosting games on campus, but subregional locations matter, too. For instance, Kansas often plays in Kansas City when they’re a top seed, drawing local fans. Similarly, Villanova frequently began their March Madness at Philadelphia’s Wells Fargo Center, close to campus. Proximity reduces travel fatigue for teams, enhancing their home-court advantage.
Home-court advantage has a greater role in college hoops than in the NBA. Why? The players are younger and have less experience playing in those hostile environments. Crowd noise and travel are relatively new to them. Then there’s the factor of altitude. Teams that have campuses at high altitude, such as Colorado or Utah, have a conditioning advantage over sea-level teams if those teams meet in a high-altitude arena, such as what you find in Denver or Salt Lake City. That can make a difference.
Tournament champions will cover the spread
Eight of the last 10 March Madness champs covered more than 55% of the time during their title seasons. Don’t just look for teams that cover frequently – look for teams that cover frequently against Quad 1 and Quad 2 competition, or in competitive conference games. If teams cover regularly, that means they are exceeding expectations frequently. They’re taking care of business against the easy teams, pulling away from teams that were supposed to play them close, and then getting big covers (or even straight up wins) in difficult road games. So if a team has a high ranking and a high cover rate against the spread, you’re looking at a team ready to make a deep run.
^Bet on March Madness Odds provided by Xbet
Understanding March Madness Betting
Types of Bets
There are your basic bets, of course. For each game, you can pick the winner against the moneyline or against a point spread. You can wager whether a game will finish over or under a set point total. You can also put down futures wagers on which team will win the tournament. There’s also bracket wagering. After Selection Sunday, you’ll know the 68 teams that are ready to start squaring off a couple of days later. Generally, the First Four games aren’t picks that you have to make on the 64-team bracket – you start picking with the first round. In most brackets, each round is worth double the previous round in terms of points per winning pick, and then there’s a tiebreaker where you guess the final score of the championship game.
^Bet on March Madness Prop Bets
In men’s college basketball, which lasts 40 minutes divided into two 20-minute halves, prop bets add to the excitement. Bettors can wager on halftime lead, individual rebounds and more. Availability varies, offering an engaging experience when following player performance.
How to Read Odds
Let’s say that you’re looking at a first-round game between Duke and Tennessee Tech. You might see something like this: Duke -28.5 / Duke -700 / Tennessee Tech +1100 / O/U 138.5.
This means that Duke is favored to win by 28.5 points
If you think Duke can win by 29 or more points, then you would take Duke to cover the point spread. If you don’t, then you would take Tennessee Tech to cover. If you don’t want to deal with the point spread but would just like to pick a straight-up winner, then you would go with either Duke -700 or Tennessee Tech +1100. This is a moneyline wager, and here’s how you read it.
To bet on Duke straight up, wager $700 to win $100, totaling $800. For a Tennessee Tech upset, bet $100 to win $1100, totaling $1200. The over/under point total is 139; if teams score 139 or more, “over” hits; if 138 or fewer, “under” hits.
The point of the line can change depending on the wagers. If many bettors believe Tennessee Tech will cover, the line could be reduced. As for the point total, if there is a lot of action on one side, it can also be adjusted, bringing up money lines. For example, if the game is expected to go over a total, money lines can make that bet lose appeal. You might see something like O/U 28.5 / Over -120 / Under +110, where the over would require betting $120 to win $100, while the under might cost $100 to win $210.
^Essential Betting Strategies
Research and Analysis
Do some homework before you start laying down money on first-round March Madness games. If one team is an automatic qualifier after winning their conference tournament, how did their season look? Did they have a weak regular season before going on a roll to win that automatic bid? If so, do they have the balance to keep going? Or are they about to regress back to their statistical norms for the season and lose?
If they received an at-large bid on the basis of their record, strength of schedule and other metrics, did they have a strong first half and then collapse down the stretch, just barely getting enough wins (and having just enough goodwill based on their program’s history) to get in? Or did they start building to a peak after mid-January? How difficult is their conference schedule? Is it the sort of grind that will prepare them for the tournament, as with the Power 4 conferences and such leagues as the Big East and the Atlantic 10? Or are we dealing with a huge fish in a small pond, like we get with Gonzaga of the West Coast Conference every year?
Bankroll Management
It’s easy to feel confident and wager large amounts, but smart bettors limit their bets to 5 percent of their bankroll. For instance, with a $200 bankroll, bets should range from $2 to $10. While you can place multiple bets on a game, no single bet should exceed $10. This approach minimizes losses and, through diligent research, can lead to steady gains over time, despite lacking a significant win from one game.
Value Betting
This concept involves identifying bets that provide greater value than their actual worth. If you believe a moneyline is inflated or a point spread overly generous, you can capitalize on this discrepancy. For example, a powerful team might be favored by 20 points over a mid-major, but if the mid-major plays a slow-paced game, they might effectively limit the favorite’s scoring. Consequently, betting on the underdog to cover makes sense, particularly since Power 4 teams often underestimate smaller schools in early rounds, risking either a close win or an upset loss.
Live Betting
In-game betting allows you to wager on a game as it unfolds, with shifting odds reflecting momentum changes. While it enhances engagement and potential profits, it also poses risks of significant losses if emotional reactions lead to poor decisions. It’s crucial to set limits on bets and avoid chasing losses during the game.
^🔮 NEW BRACKET PREDICTION 🔮@TheAndyKatz shares the newest updates on how the bracket might shake out 👀 pic.twitter.com/qz2ptGmnt1
— NCAA March Madness (@MarchMadnessMBB) January 21, 2025
NCAAB Championship Betting Odds For Today
Xbet College Basketball Odds for the Game
Bet on March Madness 2025 Season
Love betting Basketball? | Xbet Sportsbook offers up to date College Basketball lines
