Odds to Win NCAA Championship: Every Team's Odds to Win March Madness Ahead of Sweet 16

Only 16 teams remain in the 2026 NCAA Tournament, and there was a little shake up in the odds to win the national title on Sunday during the Round of 32.

The biggest upset of the weekend came when the No. 9 Iowa Hawkeyes knocked off the defending champion Florida Gators on a late 3-pointers from Alvaro Folgueiras. Florida entered the Round of 32 at +750 to win the national championship for the second year in a row, so several teams have moved up in the latest odds.

The Houston Cougars (now +750) and Illinois Fighting Illini (now +1500) face off in the Sweet 16 in the South Region, but they are the clear favorites to eventually advance to the Final Four. Nebraska (+6000) is favored over Iowa (+10000) in the other Sweet 16 matchup in that section of the bracket.

Florida's loss wasn't the only one that moved the odds to win the national title, and the Michigan Wolverines (+300) remain small favorites after jumping ahead of Duke (+420) and Arizona (+330) with their dominant second-round win over Saint Louis.

Here's a look at the complete odds to win the NCAA Tournament ahead of Thursday's Sweet 16 action.

Latest Odds to Win 2026 NCAA Tournament

Odds via FanDuel Sportsbook

Michigan: +300
Arizona: +330
Duke: +420
Houston: +750
Purdue: +1500
Illinois: +1500
Iowa State: +1700
Connecticut: +2700
Michigan State: +3000
St. John's: +3300
Arkansas: +4500
Tennessee: +5500
Nebraska: +6000
Alabama: +10000
Iowa: +10000
Texas: +20000

Michigan, Arizona and Duke all moved up in the odds after Florida's loss, as the Wolverines went from +310 to +300 while both Arizona (+400 to +330) and Duke (+450 to +420) saw more dramatic moves after advancing on Sunday.

Duke still has a tough path in the East Region, as UConn, Michigan State and St. John's are all formidable teams that could win March Madness. St. John's -- Duke's opponent in the Sweet 16 -- has the worst odds of that group at +3300.

Through the first two rounds, three No. 1 seeds, four No. 2 seeds and No. 3 seeds advanced. There are only two teams that advanced that didn't enter the tournament as top-eight seeds -- No. 9 Iowa and No. 11 Texas.

That's led to a pretty packed odds board, as nine teams have +1500 to +6000 odds to win the NCAA Tournament. Florida's elimination certainly opens the door for a lower seed to advance in the South Region, but the plethora of No. 2 seeds could mean we'll see multiple No. 1 vs. No. 2 matchups in the Elite 8.

The SI Betting team will have the opening odds, NCAA Tournament odds, betting previews and more for each Sweet 16 matchup as the week goes on.

Odds refresh periodically and are subject to change.

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