How to Bet on the Men's NCAA Tournament for March Madness
March Madness is one of the busiest and most exciting times of the year for sports bettors. 68 college basketball teams compete for the National Championship across three weeks, with dramatic upsets and adrenaline-pumping finishes along the way. The electrifying and often unpredictable road to the Final Four is what has earned this season the moniker of madness.
So, how can you get in on the action?
How to Bet on a Single Game for March Madness
There are multiple ways to bet March Madness, the simplest being moneyline, points spread, and game-total bets on any single game.
A moneyline (ML) bet is a bet for a team to win outright or straight up (SU). Favorites are indicated by a (-) sign, while a (+) sign indicates underdogs.
A points spread bet, or betting against the spread (ATS), is a bet on whether a team will win with the handicap provided by the sportsbook. If a team is +3, you can add three points to their score at the end of the game to determine if they are the winner. Conversely, if a team is -3, they have to win by more than three points to win to cover this ATS bet.
For example, if UCLA is ( -3) vs. Gonzaga (+3), and UCLA wins 78-76, those who bet on Gonzaga would cash their ATS tickets as Gonzaga gets to add three points to their final total to bring them to a 78-79 win. Those who simply bet the ML for UCLA to win SU would also cash their tickets.
A points total bet or over/under (O/U) is simply a bet on whether or not the points total in the game will exceed or fall short of the line the sportsbook has set. These bets are a 50/50 proposition.
Each type of bet will also be listed with its payout. Besides indicating a favorite, the minus sign indicates your profit will be less than your original investment, while a plus sign indicates more profit. For example, if you bet on an underdog with +130 odds to win and they do, you will receive 130% of your original investment. For a $100 bet, you will profit $130, bringing your total payout to $230. Conversely, if you bet on a favorite to win at -130 odds, you would need to invest $130 to profit $100 should they win. Your total payout would be $230.
In this example, the person betting on the favorite has more to lose ($130) and less to win ($100). This is why sometimes the risk outweighs the reward when betting on a favorite. Always remember no bet is a guaranteed proposition.
How to Bet on the Final Four for March Madness
Picking the Final Four is a popular way to bet, not just with brackets but also at a sportsbook. You can bet on teams to make it to the Final Four at a sportsbook before the tournament even starts, and this is called a futures bet. What is a futures bet? Quite simply: A futures bet is exactly what it sounds like - a bet on an outcome in the future. Why place a futures bet? Because the potential payouts are tremendous. Generally, the further in the future the event occurs, the better odds you will get for your wager. This year’s no. 1 seeds are Kansas, Alabama, Houston, and Purdue. They are considered the most likely to make it to the Final Four.
However, the only time in tournament history four No. 1 seeds made it to the Final Four was 2008 (North Carolina, UCLA, Memphis, and Kansas).
How to Bet on the National Champion for March Madness
Another futures bet you can make is as straightforward as they come. Quite simply: who will win it all? Bet now, and if you make the right pick, your return will be no less than five times your investment according to the current odds at SI Sportsbook. Pick a favorite like Kansas to win at nine to one odds, or just have some fun and bet your alma mater. I’ll be putting $50 on TCU at 30 to one. Max loss, $50. Max win? $1500. Most importantly- max fun to bet on my horned frogs.
Place your bets on the Men's NCAA Tournament on SI Sportsbook
If you or someone you know has a gambling problem and wants help, call the National Council for Problem Gambling 1-800-522-4700.
