March Madness Bets: Best March Madness Betting Sites and Tips

Hoops fans wagered more than $3.1 billion on March Madness last year, according to the American Gaming Association and that figure is set to spike in 2023 after several additional states legalized March Madness betting in time for the NCAA Tournament. This guide will highlight the best mobile apps and websites for anyone that wants to bet on March Madness. We will also break down the most popular March Madness bets, highlight the most appealing bonuses and provide our top tips for picking winners as the tournament unfolds.

Best Sites for March Madness Bets

March Madness Betting Odds: Futures to Win the NCAA Tournament

The leading online sportsbooks have released odds on which team will win this year’s NCAA Tournament. These are the top 10 contenders:

• Alabama (+350)
• Houston (+400)
• UCLA (+800)
• Texas (+900)
• Connecticut (+900)
• Creighton (+1000)
• Gonzaga (+1100)
• Tennessee (+1100)
• Michigan State (+2500)
• Kansas State (+2500)
• Arkansas (+3000)
• Xavier (+3000)
• San Diego State (+4000)
• Miami (+5000)
• Florida Atlantic (+5000)
• Princeton (+15000)

Odds from BetMGM were correct at the time of publication.

Recommended Sportsbooks to Bet on March Madness

We have reviewed every licensed online sportsbook that covers March Madness. Our experts ultimately decided that these are the best online sportsbooks:

BetMGM is the best all-round sportsbook for Tournament betting. It offers a wealth of markets on every game, the odds are competitive and there are lots of helpful features to enhance the user experience.

The BetMGM bonus code USATODAY earns you an incredible $1000 first-bet welcome offer. If your first bet loses, BetMGM refunds you with bonus bets up to $1,000. For bets below $50, the refund comes as a single bonus bet; for wagers of $50-$1,000, you will get back five bonus bets, each equal to 20% of your initial wager – giving you more flexibility than promo codes that refund with just a single bet credit. 

The bonus bets come with a 7-day expiration and just a 1x playthrough as well.

Caesars Sportsbook is another elite March Madness betting site that offers large promos, loads of odds boosts and very high betting limits. We would recommend this sportsbook for any high rollers wagering on the NCAA Tournament, as there is an excellent VIP program. It also offers a simple, user-friendly mobile app and quick payouts.

The Caesars Sportsbook promo code earns you up to $1,250 back as a bet credit if your first wager loses, plus 1,000 Reward Credits and 1,000 Tier Credits for the rewards program.

DraftKings is a great source of early March Madness betting lines. It often publishes its odds before rivals, so you can find value before the lines move. This sportsbook is perfect for casual bettors on modest budgets, as the minimum deposit is $5, there is no minimum withdrawal and there are lots of free-to-play March Madness betting games, known as pools, which offer chances to win bonus bets.

The DraftKings promo code provides new players with a “Bet $5, Get $200” offer. Place a $5 pre-game moneyline bet on a March Madness matchup, and you will be awarded eight $25 bonus bets instantly. There are no odds restrictions, so you can back as big of a favorite as you like, and if your initial bet wins you also keep those profits too – truly a win-win.

FanDuel is the most popular March Madness sportsbook in the United States. It offers a very slick mobile app, a user-friendly website, lots of betting options, competitive odds, rapid payouts, great bonuses and plenty of value-added features, so it is easy to see why it has earned that exalted status.

The FanDuel promo code offers a 10x first bet promotion for March Madness. FanDuel will give you bonus credits worth up to $200 and it doesn’t matter if you win your first bet. You can break up those credits however you like, you have two weeks to do it and they have just a 1x rollover requirement.

Betting on March Madness for Beginners

The 68 strongest teams in the country vie for glory at the NCAA Division 1 Men’s Basketball Tournament each year. A selection committee ranks the entire field in descending order, from No. 1 through No. 68, and the tournament is then divided into four regions.

The four best teams in the country become the No. 1 seeds in each region, and the remaining teams are then distributed, ensuring a similar overall level of quality in each region.

March Madness begins with the First Four. This round features eight teams, who must battle for a place in the main bracket of 64. Four of them advance, while the other four crash out.

The NCAA Tournament then becomes a straightforward knockout event. In the First Round, the No. 1 seed from each region takes on the No. 16 seed. The No. 2 seed locks horns with the No. 15 seed, and so on.

Thirty-two teams advance to the Second Round, and the field is then cut in half again for the Sweet 16, followed by the Elite Eight, the Final Four and then the NCAA Championship Game, which features the two teams left standing.

Why March Madness Bets Today are So Popular

The frenetic nature of the NCAA Tournament has captured the public imagination. It never fails to serve up drama, excitement, surprise results and controversy.

March Madness also marks the culmination of the college basketball season, and hoops fans like to see the brightest prospects in action ahead of potential NBA careers, which can be separately wagered on with NBA futures. One firm, Challenger, Gray & Christmas, estimated that US employers lose around an average of $13.3 billion in productivity during the tournament.

March Madness bracket betting has also helped drive the popularity of this tournament. Before the NCAA Tournament begins, millions of people fill in brackets. All you need to do is predict which teams will advance from the First Four, guess which 32 teams will then advance to the Second Round and continue filling in your bracket until you are left with one team beating another in the NCAA Championship Game.

Lots of organizations run March Madness bracket betting challenges, and you can win major prizes by making more correct predictions than your competitors. For example, the Warren Buffett March Madness bet challenge has regularly offered $1 million per year for life to anyone that can accurately predict the results of the first week of March Madness games. BetMGM has also offered $10 million to anyone that can compile the perfect bracket.

Types of March Madness Bets

Filling in March Madness brackets can be fun, but you stand a better chance of success by placing traditional styles of bets at college basketball betting sites. These are the best March Madness bets today:

Moneyline

This is a simple prediction on which team will win a game at March Madness. The sportsbooks release March Madness betting lines on each team’s chances of winning. For example, DraftKings offered -180 on Kansas to beat North Carolina in the 2022 NCAA Championship Game, while UNC was the +155 underdog.

Spread

This is the most common betting option on a college basketball game. Most March Madness betting picks focus on which team will cover the spread. The sportsbooks assign the stronger team a points handicap, and you can then guess which team will cover it.

It allows them to offer similar betting odds March Madness on either team covering. For example, Kansas was the 4-point favorite in the 2022 NCAA Championship Game, with odds of -110 on Kansas -4 and -110 on North Carolina +4. In the end, North Carolina covered the spread, as the Tar Heels only lost by 2 points.

Over/Under

A straightforward prediction on the number of points scored in a game. For example, you might find -110 on over 151.5 points and -110 on under 151.5 points. Many March Madness best bets and March Madness betting trends focus on totals too. You will also find alternate totals, team totals and totals on either half.

March Madness Prop Bets

Prop betting on March Madness focuses on whether an event will occur during a game, or an aspect of an individual athlete’s performances. The various prop betting lines March Madness can be divided into three categories:

• Team Props: These props focus on one particular team. Examples include the number of points the team will score (over/under), the number of 3-pointers they will score (over/under) and so on.
• Game Props: These March Madness prop bets can include the first team to reach 20 points in the game, the highest scoring half and whether a game will go to overtime.
• Player Props: Betting on an individual college basketball player. Common options include over/under on points, rebounds, assists, blocks and steals. They are some of the best bets March Madness viewers can make, but they are only available in certain states.

Futures

Sportsbooks offer futures odds to odds to win March Madness before the college basketball season begins. These odds are updated throughout the season, according to how well each team is playing. You will find odds on each team’s chances of winning the tournament before March Madness begins, and you can continue betting on this market throughout the tournament.

How to Bet on March Madness: Tips to Picking Winners

You can bet on every single game throughout March Madness. Read on for some tips on how to pick winners at your chosen March Madness betting site.

Final Four March Madness Betting Strategy

Lots of key trends will be available by the time the field has been whittled down to just four teams. You can focus on each team’s offensive and defensive stats, their over/under records and their ATS (against the spread) records when coming up with your March Madness betting picks.

It is worth noting that just three underdogs won Final Four games in the last seven NCAA Tournaments – Wisconsin in 2015, Texas Tech in 2019 and North Carolina in 2022.  No. 1 seeds also have a strong record in the Final Four, having gone 25-18 against the spread since 2005.

First-Round March Madness Betting Strategy

In the past 25 years heading into the 2023 NCAA Tournament, just one No. 16 seed has beaten a No. 1 seed in the First Round of March Madness. It is also very rare for a No. 15 or No. 14 seed to win, which is worth bearing in mind when compiling brackets and devising your March Madness best bets.

The March Madness betting trends show that a No. 13 seed causes an upset against a No. 4 seed almost every year. Historically, you typically find one or two upsets when the No. 12 seed takes on the No. 5 seed, and the same is true of No. 6 vs. No. 11 games and No. 7 and No. 11 games. No. 8 seeds have a roughly 50% success rate when taking on No. 9 seeds in the First Round.

Best March Madness Bets for Underdogs

No. 12 seeds are 17-16 straight-up against No. 5 seeds in the First Round since 2012. They are also 21-11-1 ATS against No. 5 seeds. If you are looking for best bets March Madness, it can pay dividends to identify strong No. 12 seeds that can cause an upset.

No. 15 seeds also have an excellent ATS record in the First Round, and No. 9 seeds have also covered more than half of the time.

Cinderella stories often emerge in the First Round, but the higher seeds tend to assert their superiority from the Second Round onwards. St. Peter’s, a No. 15 seed, caused a stir by going to the Elite Eight last year, but that was an exception to the rule.

Why Player Props are Ineligible for March Madness Bets in Some States

The Supreme Court overturned a longstanding federal sports betting ban called PASPA in 2018. That decision handed each state the power to legalize sports wagering, and they were also permitted to set their own regulations and tax rates.

As such, the law differs from one state to the next. Some stats decided to ban player props on college games for integrity reasons. The idea is to ensure that collegiate athletes cannot be compromised by outside interests.

These states have specific restrictions:

• Arizona – No player props or team props
• Colorado – No player props
• Connecticut – No betting on individual games featuring in-state teams
• Illinois – Only in-person bets available on games featuring in-state teams
• Indiana – No betting on in-play player props
• Iowa – No player props
• Massachusetts – Massachusetts sports betting apps cannot take wagers on in-state teams
• Montana – No betting on in-state teams
• New Hampshire – No betting on in-state teams
• New Jersey – No betting on in-state teams
• New York – No betting on in-state teams with New York sports betting apps.
• Oregon – No college betting
• Pennsylvania – PA sports betting app users cannot wager on player props
• Rhode Island – No betting on in-state teams
• Tennessee – No player props or in-play game props
• West Virginia – No player props

What to Look for in a March Madness Online Betting Experience

We focus on six key areas when reviewing March Madness sports betting sites and mobile apps. These are the key factors to look for when selecting a sportsbook ahead of the NCAA Tournament:

Wager Variety

The best March Madness betting sites provide a wide variety of markets on each game. In some states, they are restricted by local laws, such as bans on player props. However, you should always find a broad selection of alternate lines and same-game parlay options, while most states permit game props.

The leading March Madness betting websites and mobile apps also allow you to place teasers, round robins and futures bets.

Competitive Lines and Odds

It is important to find sports betting apps that offer competitive lines and betting odds. March Madness sportsbooks take a house edge on their lines, known as the juice or the vigorish, which allows them to pay their overheads and earn a profit. The best operators only take a small house edge.

You can sign up with a variety of sportsbooks in your state. That will allow you to compare the odds and lines they are offering on each game. You can then place each bet you like at the sportsbook with the most favorable terms.

Frequent Offers of Bonuses and Promo Codes

You will benefit from exciting sportsbook promo codes when you register with the best mobile apps and websites offering betting lines. March Madness sportsbooks typically provide a compelling welcome bonus, followed by a series of recurring promos for existing customers.

They can include odds boosts, profit boost tokens, insurance deals, “bet and get” offers and March Madness betting games, such as pools and bracket challenges. These promos boost your chances of ending the NCAA Tournament in profit.

User-Friendly Interface

The best sportsbooks make it quick and easy for you to place your best bets for March Madness. They offer a user-friendly interface, so you can find college basketball games with ease.

The betting options should be laid out in a simple format and the betslip should be user-friendly. Many offer value-added features such as pre-game stats too. If you are wondering

Simplified Banking

You will be offered a selection of secure, convenient deposit and withdrawal methods at leading sportsbooks such as BetMGM, Caesars and DraftKings. They make the payment process very simple, and they do not charge any banking fees.

You can make instant deposits via credit cards, debit cards, prepaid cards, e-wallets, bank transfers, e-checks or cash at the cage. The sites offering the best March Madness bets today also provide rapid, secure, reliable payouts.

Accessible Customer Support

The leading sportsbooks offer accessible customer support 24 hours a day, 365 days a year. You can speak with an agent via live chat within the app or the website, or you can send an email or browse the help center.

If you want to know how to bet March Madness, how to redeem a bonus or how to request a payout, the representatives can walk you through the process.

Make Your March Madness Bets and Bracket Picks Before Tip-Off!

It is now time to place your best March Madness bets today. Click the “BET NOW” link next to one of the sportsbooks on this page to visit the site and redeem the best welcome bonus. Remember that you can register with multiple sports betting sites in your state, allowing you to claim all the most exciting promos on the market right now.

The final March Madness FAQ section rounds up the most common requests we receive from readers during the college basketball season. It covers the legal situation, how to bet on March Madness, betting volumes and bracket pools.