March Madness Betting Guide: How To Bet On The Men’s College Basketball Tournament

March Madness is one of the biggest sporting events of the year. The top 68 college basketball teams battle it out in a single-elimination tournament to crown a champion. From start to finish, it’s three weeks packed with 67 games, all of which are available to wager on at legal online betting sites. Odds on the winner of the next tournament are now available. Here are the latest March Madness odds, along with information on where you can legally and safely bet on this year’s tournament.

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Learn more about betting on college basketball

March Madness 2024 futures odds

Futures betting odds are available for March Madness 2024. The live odds feed below contains the latest numbers from legal sportsbooks. If you see a bet that you’re interested in, just click the odds to be directed to the sportsbook to place it.

Where and how to bet on March Madness

Sportsbooks like DraftKings, FanDuel, BetMGM, PointsBet, and BetRivers all have March Madness betting options. All you need to do is access one or more licensed sportsbooks from a state where sports betting is legal, either via their websites or apps. From there, create a new sportsbook account, enter your personal details, and claim any available promos. Once you’ve done that, you’ll be ready to deposit money and bet.

1. DraftKings Sportsbook

DraftKings offers an intuitive platform that makes it easy to browse potential wagers. The sportsbook is available in the following states: AZ, CO, CT, IL, IN, IA, KS, KY, LA, MA, MD, MI, NH, NJ, OH, PA, VA, WV & WY.

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2. FanDuel Sportsbook

The FanDuel platform is clean and easy to use while still having a good variety of features. During March Madness, building multi-leg wagers is simple, with options like same-game parlays just a click away. The FanDuel app is available in the following states: AZ, CO, IL, IN, IA, KS, KY, LA, MA, MD, MI, NJ, NY, OH, PA, TN, VA, WV & WY.

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3. BetMGM Sportsbook

The MGM name has helped this sportsbook gain attention, but it also offers competitive odds and lines for college basketball games, as well as a variety of bets as the tournament plays out. BetMGM Sportsbook is available in the following states: AZ, CO, DC, IL, IN, IA, KS, KY, LA, MA, MD, MI, MS, NJ, OH, NV, NY, PA, TN, VA, WV & WY – Note: Offer not available in DC, MS, NV or NY.

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4. PointsBet Sportsbook

PointsBet was an unknown quantity in the US prior to launching here in 2019. Now it is an option for bettors in several states. Careful attention to lines and the PointsBetting feature have helped it stand out. PointsBet Sportsbook is available in the following states: CO, IL, IN, IA, KS, LA, MD, MI, NJ, NY, OH, PA, VA & WV.

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5. BetRivers Sportsbook

BetRivers offers a solid platform that is easy to use. The company also features a rewards program that lets you earn points for placing wagers. The BetRivers app is available in the following states: AZ, CO, IL, IN, IA, LA, MD, MI, OH, NJ, NY, PA, VA & WV.

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Rules and regulations for March Madness betting

States can set their own rules for sports betting. That means there’s not complete uniformity in states where betting is legal. All states have prohibitions in place to prevent those with close ties to a sport from wagering on it. Some states, however, have set the legal sports betting age at 18, while most have it at 21.

Rules for wagering on college sports can vary from state to state. Some have no major prohibitions or restrictions, but others do have some regulations that deal with wagering on college sports.

How March Madness betting works

You can bet on the winner of March Madness nearly year-round thanks to the futures market. Additional options include betting on teams to make the Elite Eight or Final Four.

For now, let’s focus on how you can bet on each individual game as the tournament plays out. From the First Four to the national title game, there are 67 games over multiple weeks. The average listing for an individual game will look something like this:

Baylor+188+5 (-110)Over 160 (-110)
Gonzaga-245-5 (-110)Under 160 (-110)

If you look next to the two team names, the default listing features the odds and lines for three main bets: the moneyline, point spread and total. Negative odds indicate a favorite, while positive odds indicate an underdog. In our example, Gonzaga is the favorite on the moneyline and a five-point favorite on the spread in a game with an over/under line of 160 total points.

Spreads and totals have the number that oddsmakers have set — in this case 5 and 160 points — followed by the actual odds for the wager, which are -110 across the board for our example. Here are the basics for all three wagers.

Live betting on March Madness

Also known as in-game betting, live betting affords the chance to hedge your initial position if a game breaks differently than you were expecting, or you can just wager on a standalone basis. Offerings will vary but may include the following:

If you like staying engaged as a game plays out, then live betting could be an area to explore. For those who prefer to place their wagers and then relax and enjoy the game, this style of betting might not be for you.

March Madness prop betting

Prop betting is another popular item on the wagering menu. These are bets that involve things that might or might not happen during a contest or at its conclusion. As mentioned earlier, individual states might have restrictions in place for college props, so be sure to review the rules in your area. Here are some examples of props you might see:

Props on college athletes aren’t available everywhere, so the options can be scant in comparison to what you would find for an NBA game. When checking the game listings at online sportsbooks, you can find the available props by clicking on the individual contests.

How March Madness futures work

Odds for the winner of the next national championship will come out soon after the tournament is over. The board typically appears in descending order with favorites on top. The odds for a few favorites might look like this:

After the initial release, bets will begin coming in. The numbers will move in response to betting action. The teams that see a lot of interest can see their odds shorten, while the opposite can happen for squads that don’t attract as much attention. This will continue throughout the season as the betting market develops.

March Madness brackets

In the world of sports, one of the biggest highlights of the early part of the year is the official unveiling of the March Madness bracket. The NCAA Division I Men’s Basketball Committee sets the field. Thirty-two teams receive automatic bids for winning their conferences, while 36 spots go to at-large schools for a total of 68 teams.

When setting the field, the committee will consider the overall record, the strength of schedule and various other performance metrics and stats. Determining which teams qualify is only part of the job. The committee also seeds the teams and sets the matchups. The bracket has four regions — East, Midwest, South and West — and the winners of each then advance to the Final Four.

Each region has 16 teams, seeded from 1-16. The committee sets 60 seeds prior to release, while the final spots go to the winners of the First Four games. The tournament is single-elimination. Here’s how that translates into games for each round.

All told, it’s 67 games from start to finish. The committee does the heavy lifting in advance of the tournament, and there is inevitably a good amount of debate about which teams were snubbed for selection.

The odds of picking a perfect bracket correctly are 1 in 9.223 quintillion, according to the NCAA.

When is the 2024 NCAA Men’s Basketball Tournament?

The 2024 edition of the NCAA Division I Men’s Basketball Tournament is scheduled to begin on March 19 and wrap up on April 8. In between, it’ll be three weeks of action. Here are the key dates.

State Farm Stadium Stadium in Phoenix is the host for the Final Four and the title game. CBS and Turner Sports will be the broadcast home for the tournament, with games on CBS, TNT, TBS and truTV, as well as on their digital platforms.

Which teams have performed the best at March Madness?

Each college basketball season is a separate event. Still, some programs have fantastic overall track records at March Madness. Here are the five clubs that have played the most games in the annual tournament:

The same five teams also top the charts in a number of other March Madness categories:

While the past is no guarantee of future success, there’s a good chance that the programs that have lengthy March Madness résumés will continue adding lines as we move forward. Kentucky, Duke and North Carolina have all won titles over the past decade, while Kansas is the defending champion.

March Madness betting FAQ

Which team is the favorite to win March Madness in 2024?

Kansas , Duke , and Michigan State are among the top favorites to win March Madness in 2024.

Who won March Madness in 2023?

Connecticut was the winner of March Madness in 2023. The team entered the tournament as a No. 4 seed and defeated No. 5 San Diego State by a score of 76-59 in the final.

What is the best way to bet on March Madness?

The best way to bet on March Madness is to choose a wager that aligns best with your risk tolerance and understanding. You can then focus on learning all that you can while choosing the bets that align the best with your wagering style.

What are the biggest upsets in March Madness history?

A No. 16 seed has defeated a No.1 seed twice in the history of March Madness. UMBC defeated Virginia in 2018, and Fairleigh Dickinson upset Purdue in 2023.