How to Bet on March Madness Games, Futures and Props in 2024

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Are you hoping to learn how to bet on March Madness? You’ve come to the right place.

This college basketball betting guide will explain how to sign up with a sportsbook, and how to bet on March Madness 2023. We’ll provide March Madness betting tips to help you maximize your winnings during this exciting time of year.

Let’s get to it!

How to Sign Up With a Legal Online Sportsbook

Gaming Today recommends DraftKings, BetMGM, FanDuel, Caesars Sportsbook, PointsBet, and Bet Rivers as top legal online sportsbooks for betting on March Madness.

Read More: Best College Basketball Betting Sites

The sign-up process is similar at all of these “best in class” sportsbooks. We’ll use DraftKings in our example, but just know that registering for a new account is simple and takes less than five minutes. Here’s a step-by-step guide:

  • Start by tapping on our DraftKings promo code link to complete the sign-up process. You’ll simply provide personal information that verifies your identity and location.
  • You can take advantage of $1,200 in betting bonuses (we’ll break these down in a bit) that DraftKings offers to new users now.
  • Make a deposit using any of the convenient methods DraftKings offers. We recommend PayPal or online banking.

Claim up to $1,200 in Sign-Up Bonuses at DraftKings

This is the fun part! DraftKings currently offers three separate bonuses when you sign up for a new account.

  • $50 Bonus Bet: You’ll receive this first bonus after signing up and making a minimum $5 deposit.
  • 20% Deposit Match: DraftKings will also match your first deposit at 20% up to $1,000. For example, a $500 deposit will make you eligible for a $100 bonus (once the 5X play-through requirement is met).
  • Bet $5, Get $150: Make a $5 bet on any pre-game moneyline, and you’ll get $150 in bonus bets.

How to Bet on March Madness Games

The beauty of March Madness involves the number of games to wager on! There is a betting line offered on each game that includes the spread, moneyline, and total. Here’s how to bet on March Madness games:

Spread

The point spread levels the playing field between two opponents. Let’s use an opening round game from March Madness 2023 to explain this bet.

Providence +3.5 (-110)

Kentucky -3.5 (-110)

Kentucky is favored to beat Providence by 3.5 points. If you bet on Kentucky, the Wildcats need to win by at least four points to cover the spread. If you bet on Providence, the Friars can lose by three points and still cover the spread.

Moneyline

Providence +150

Kentucky -175

What if you just want to bet on one team to win the game outright with no point spread involved? You’d make a moneyline bet. A $100 bet on underdog Providence would pay out $150 in winnings (and your original $100 stake back). You’d need to bet $175 to win $100 on Kentucky as the favorite. If the Wildcats win, your payout will be $275 ($100 in winnings, $175 stake back).

Total

The total is the combined number of points scored by both teams in the game. You can bet Over or Under a set number of points to be scored. Providence-Kentucky had a total of 145.5. Over bettors need a minimum of 146 points to win. Under bettors need a maximum of 145 points.

How to Bet on March Madness Futures

Futures odds are offered on teams to win the 2023 NCAA Tournament.  These odds are offered any time of the year, and they will fluctuate based on a team’s performance, injuries, suspensions, etc. Let’s take a look at March Madness futures at BetMGM heading into the 2023 NCAA Tournament.

Team BetMGM Odds
Houston+550
Alabama+800
Kansas+800
Purdue+1100
UCLA +1200
Arizona+1200
Texas+1600
UConn+1600
Gonzaga+1800
Baylor +1800

Remember, you are wagering on a team to win the NCAA Tournament in this betting market. We’re looking at the top-10 betting favorites here, but there are 58 other teams that could (conceivably) win the tournament.

Odds are offered on all teams, and it’s best to compare the prices being offered at multiple sportsbooks before making your bet(s). It’s vital to get the best odds on your wagers when thinking about how to bet on March Madness 2023.

The farther down you go on the March Madness betting board, the higher your odds will be. This translates to bigger payouts but lower implied probability to win.

Houston was the +550 betting favorite to win the 2023 NCAA Tournament.

Bet: $100

Odds: +550

Implied probability: 15.38%

Potential payout: $650 ($550 in winnings, and $100 stake back)

But what if you think Gonzaga (+1800) will win this edition of March Madness?

Bet: $100

Odds: +1800

Implied probability: 5.26%

Potential payout: $1,900 ($1,800 in winnings, $100 stake back)

Use our free implied probability calculator to compare odds and payouts for any team in the NCAA Tournament.

Other Popular March Madness Bets to Make

You’ve probably heard of prop bets, which aren’t directly tied to a game’s outcome. These are incredibly popular for the Super Bowl. Let’s see how these types of bets factor into how to bet on March Madness.

Player Props

Props are offered on things like how many points, rebounds, assists, and three-pointers a player will have in a given game. This can be a fun way to play a game if you’re not confident in either team. Researching a player’s past performance against the opponent can help when handicapping these wagers.

Team Props

Team props are also available. You’re typically betting on Over or Under a team’s total points, first half points, second half points, etc.

Frequently Asked Questions: How to Bet on March Madness

How do you bet on March Madness bracket?

There are several ways to bet on March Madness. You can bet on spreads, moneylines, totals, and props for individual games. Live bets can also be made after a game has started. Futures odds are offered on teams to win March Madness 2023.

Where can I bet on NCAA basketball?

We recommend BetMGM, DraftKings, FanDuelCaesars, PointsBet Sportbook, and BetRivers Sportsbook for betting on NCA basketball and March Madness.

Can you bet on NCAA games?

Yes. As long as you live in a state where sports betting is legal, you can bet on NCAA games. Check our updated list of legal states. Some states including New Jersey have a restriction on betting in-state college teams.

Can you bet on March Madness on FanDuel?

Yes. FanDuel Sportsbook offers betting on March Madness. FanDuel is one of the top sports betting apps in the industry.

What are the odds to win a perfect bracket?

The NCAA pegs the odds of predicting a perfect bracket at 1 in 120.2 billion!  

Can you do a bracket on DraftKings?

Yes. Be sure to register as a new user using our DraftKings promo code link first. That will allow you to bet on March Madness games, futures, and more, too.

What is the best app to bet on college basketball?

We recommend BetMGM, DraftKings, FanDuelCaesars, PointsBet, and BetRivers for betting on college basketball. These are all “best in class” sports betting apps that provide competitive odds, several different ways to bet, and generous sign-up bonuses.

 

About the Author
Brian Spaen

Brian Spaen

Managing Editor
Brian Spaen is the managing editor for Gaming Today. He has been a content writer and editor in various industries, including sports betting, environmental technology, and higher education. Brian is a graduate of Iowa State University and currently resides in Des Moines, Iowa.

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