March Madness is one of the biggest sporting events of the year. At the NCAA Division 1 Men’s Basketball Tournament in 2023, the 68 top college basketball teams in the nation will compete for championship honors. On March 14 and 15, the First Four will take place in Ohio, kicking off the action. The following weeks will see a flurry of games.
The term “March Madness” describes the last several rounds of the US college basketball tournament, which includes many of the top universities in the nation. The reason it’s termed madness is that there are so many games happening simultaneously, frequently at the same time, around the nation in March. A loss signifies the end of the season, thus winning teams don’t have much time to enjoy themselves. The NCAA basketball tournament only has one round of elimination.
There are essentially 64 teams with a chance to win the national championship at the start of the basketball postseason. Anything can happen if one person becomes heated and the others get cold. As a result, March Madness generates a lot of buzzes because there is never really certain information. So here’s a list of the best tips when placing a bet on March Madness this year.
March Madness Explained
A one-month competition that has never been more popular than now that sports betting is permitted in the country. March Madness will always be dominated by bracketology, but sports betting is expanding, and March Madness is one of the biggest betting events of the year.
There are numerous ways to wager on March Madness, including the outright National Championship, a team making the Final Four, Elite Eight, or Sweet 16, or any one of the 67 individual games. You can find more information about betting promos and codes here.
What are the March Madness odds are
The top online bookmakers will display March Madness betting odds in American format. Either a plus sign or a minus sign will be present at the beginning. If the odds are positive from the outset, you may calculate the potential profit from a $100 wager. For instance, DraftKings’ starting moneyline odds for the National Championship game from the previous year were as follows: North Carolina to defeat Kansas (+155), Kansas to defeat North Carolina (-180).
If the odds are negative, that means you need to bet a certain amount in order to win $100. Last year, a $180 wager on Kansas defeating North Carolina would have returned a $100 profit. When the odds are positive, you may calculate the potential return on a $100 wager. Last year, if the Tar Heels had defeated Kansas, a $100 wager on them would have returned a profit of $155.
The numbers are only meant to serve as a reference; you are not required to stake exactly those sums. $20 on Kansas would have given you a chance to win $11.11, while $20 on North Carolina would have given you a chance to win $31.
Kansas was the favored, as seen by the lower possible profit on the wager. That was appropriate considering the Jayhawks’ valiant 72-69 victory. But underdogs frequently win; Baylor stunned Gonzaga the year before in a well-known upset.
Betting on March Madness 2023
You may wager on March Madness in a variety of ways. Some of the more well-liked methods are mentioned below:
- Point spread: Selecting the underdog to win outright or lose by fewer points than the stipulated number of points determined by oddsmakers, or the favorite to win by more than that number of points.
- Totals: A wager on whether the final score will be OVER or UNDER a predetermined amount specified by oddsmakers.
- Prop bets: Bets on player statistics like rebounds, field goals, etc. that are tied to brackets.
- Futures: Bets that can be placed several weeks or even months before the competition. For instance, you would predict North Carolina to win the championship game in October.
- Multiple wagers placed on a single ticket. A parlay must result in a win for each option.
- Live betting is placing a wager while a game is still in progress. Live betting odds quickly vanish. Take advantage of favorable betting odds as soon as you see them.
If you’ve ever placed a basketball wager, you can use the same fundamental handicapping strategies for March Madness. The following advice goes beyond the fundamentals:
- For early-round games and the overall winner, lean on higher seeds: The teams who are seeded one to four in each region have a very high overall winning percentage in the early stages, while upsets do occasionally occur. In addition, one of the higher seeds is also the most likely overall victor. Don’t be afraid to express your dissatisfaction if you can support it with evidence. In light of this, treat the seeds with respect and avoid grabbing for extraneous objects.
- Recognize the value of momentum: As March Madness draws near, certain teams start to fly, while other teams end up falling back into the competition. Look for further than overall records for the early rounds and at the teams’ performance throughout the previous five to ten games. This may be an excellent indicator of impending turbulence.
- Shop around for the best deals: March Madness betting is extremely popular. Naturally, that will cause the odds board to move. Make sure to browse around for the greatest deals because the NCAA March Madness betting lines won’t be the same everywhere. Although they might not seem like much, those minor variations on spreads, totals and money lines add up.
Betting Errors You Should Avoid
Playing too many parlays
Parlays are a common bet type because they provide the potential for high profits on modest investments. The difficulty in winning these wagers, though, is that each leg of the wager must be correct. You can play a few small-dollar parlays for fun if you wish, but playing too many can hurt your bankroll.
Getting Too Cute with Upset Predictions
The possibility of upsets contributes significantly to March Madness’s excitement. Preventing them from happening can also yield some favorable results. Having said that, it’s crucial to be reasonable in your calls. It’s excellent if you’ve noticed something that suggests a potential upset, but avoid casting your line into a fishing hole.
Don’t believe the myth that knowing every conceivable statistic will make you that much more likely to win March Madness. In actuality, having too much knowledge can make you less discerning and have the opposite impact. Instead, tune out the noise and concentrate on what matters. Making better decisions can result from a targeted strategy.