We are soon entering the new year and the sports calendar is full of lots of exciting events. The one we are looking forward to most is undoubtedly March Madness, the Division 1 men’s college championship with 68 teams competing for the title of national champion in basketball. The tournament has become one of the biggest betting events in the US, almost on par with the Super Bowl. That is why most fans will be checking various online sources that offer the odds to win March Madness bets, just like they did during the previous tournament.
The tournament starts in March and runs into April, where the tough college teams try to prove themselves and make it to the finals. If you are feeling overwhelmed by all the information available on various betting sites, take some time to read this article to get a better understanding of how to bet on the much-loved March Madness competition.
📌 How Betting on the Championship Works?
Betting on March Madness does not differ much from betting on regular basketball games and other sports tournaments. However, because the championship stretches from March to April, the odds at various bookmakers will fluctuate constantly as teams win and advance through the stages. Therefore, betting on March Madness is all about placing your bets on a particular outcome, and doing so in a smart way as the odds determine your potential payout.
⚡ The Different Betting Odds
During popular basketball games and tournaments, there are various ways to place your bets. For March Madness, the three most favored ways to bet are: Point Spread, Over/Under and Moneyline.
Point Spread is the difference in points between two teams, such as the Gonzaga Bulldogs and Kentucky Wildcats, as predicted by the bookmaker in question. It is also sometimes referred to as handicap, as it reflects the difference in the possibility and probability of winning a particular game. This means that you are simply betting that the Point Spread will be higher or lower than the Spread.
Over/Under means that you are betting on whether the total outcome of a March Madness game will be higher or lower than the Spread. The favorite must therefore win by more than the specified spread, while the underdog must win outright or lose by less than the spread.
Moneyline is about predicting the outcome of a game without handicaps as the Point Spread is replaced by odds. The most common Moneyline is that the favorite wins.
