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How to Bet on March Madness 2024: A Complete March Madness Gambling Guide

Last Updated on 23/04/2024

Are you prepared for all the exciting action that comes with March Madness? Knowing how to bet on March Madness is vital for sports bettors – and it’s a pretty easy process when you follow some important information.

This guide has all the information you need regarding betting on the NCAA basketball tournament, which runs this year from March 19 - April 8. Learn the different bet types, strategies, top tips, and much more.

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How To Bet on March Madness?

Knowing how to bet on March Madness is the same as betting on any basketball game or tournament, but with 1000x more intensity and excitement. This tournament is full of high stakes with a field of 68 teams involved. Make sure you are aware of the types of bets available and how the odds and betting lines work. The rest is quite simple.

To start off, you will join a reputable online March Madness betting site. Enter all your details and claim your bonus when using the March Madness promo codes. Search for March Madness or click on the March Madness tab if one is available.

Next, select the game you wish to place your bets on. Choose the betting market you are going to go with, for example, in the Totals market. Enter the amount you are going to bet, and lastly, submit your bet. Wait for the results, and hope it is your lucky day.

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Common March Madness Betting Types

One of the most important things when learning how to bet on March Madness is knowing the different betting types available. All online sportsbooks will offer the same general range of options. March Madness bracket gambling is a popular choice with the NCAA tournament, among many others. Let’s take a look at some of the popular betting types.

Point Spreads

Point spreads are one of the most common bets to make. Here the sportsbook puts a value on each team that will make the outcome more or less even. The winning team will have to “lose” a certain number of points while the losing team will “gain” that same number of points. The sportsbook will then attach odds to each of the options.

A simple hypothetical example would be:

Miami -6.5 (-110) vs Florida +6.5 (-110).

In this example, the favorites, Miami would give 6.5 points to Florida. Those bettors who believe Miami would win by more than 6.5 points would bet on them. Those bettors in favor of Florida and who think Florida will win overall or lose by a margin of less than 6.5 points and bet on them.

Parlays

This type of bet is very popular when learning how to bet on March Madness. In the beginning stages of the tournament, there are lots of games being played at once. With March Madness parlay picks, you will make a bet on one of each of these games in a combined wager.

For example, you could choose the winner of each of the games that happens that given day and create a parlay combined bet. You need to have predicted correctly in all games to win the parlay bet.

Same Game Parlays

This is an exciting bet type when it comes to college basketball and March Madness. Same game parlays work similarly to traditional parlays, except they are all involved in one game.

For example:

Miami to win the game outright, Miami will win the first half outright, and Florida will have a total points under 70.5 points for the match.

Moneyline

This is a simple bet in March Madness where you are betting on the winner of the game. The sportsbook will analyze each team and the players.

For example:

A sportsbook will offer -430 on Miami’s Moneyline. This means Miami will win the match with no point spread. Miami is the favorite and therefore you are required to wager $430 to win $100 and get a total return of $530.

For Florida’s Moneyline, the sportsbook will offer +350 odds to win. You will need to bet $100 to get back a total of $450.

Half Betting

Instead of betting on the full game, you can place wagers on just the first half. Most betting sites only offer this on the major markets of moneyline, spread, and points, adjusted for only the opening 20 minutes.

Teasers

This is where bettors will alter the point spread. For a teaser bet you will choose two individual games and make a combined bet. Teaser bets involve the point spreads being moved 4.5 points for March Madness betting.

For example:

If Miami had a point spread of -4.5, with the teaser, it would become zero. In the second game, if a team (Arizona) had a -2.5 point spread, with the teaser, it would become +2.5. In order to win a teaser bet, you would need to be successful with both games.

Futures

This bet, as the name suggests, can be made before the tournament even starts. You will look for the Futures tab at an online sportsbook. You can bet on the team you think will be the winners of the tournament overall, which teams you think will be in the final, who you think the player of the tournament will be etc. Options almost seem endless with Futures betting.

Total or Over/Under

This involves the combined totals scored in a March Madness basketball game. The sportsbook will set a combined points total they predict. You will bet whether you believe the points will be over or under the total predicted by the sportsbook.

Live Bets

You have almost endless betting opportunities for betting on the NCAA tournament. The live betting of a game starts with the opening tip-off of a game. Sportsbook operators will then alter the options, such as the alternate lines, props, and total, as the game is in play. The line movement depends on many factors, such as who has the upper hand, home crowd momentum, and the foul situations throughout the tournament.

Most of the top sportsbooks will offer live betting, this is an exciting way to bet as the action is unfolding.

Half-time Bets

Half-time bets are available at most of the sportsbooks. You are able to place Totals, Point Spreads, or Moneyline bets at half-time during the game. College football games are 40 minutes long in total, so after the first half is done, at 20 minutes, you will have an opportunity to place these bets.

Half-time Bets

Half-time bets are available at most of the sportsbooks. You are able to place Totals, Point Spreads, or Moneyline bets at half-time during the game. College football games are 40 minutes long in total, so after the first half is done, at 20 minutes, you will have an opportunity to place these bets.

Where To Bet On March Madness?

With lots of popular Sportsbooks offering many bonus offers to new and repeat players, one currently stands out from the crowd; DraftKing. Unlock $150 Bonus Bets with just a $5 wager and enjoy the 2024 March Madness season. You’ll get six $25 instant bets to use within 7 days throughout the tournament. With just a 1x wagering requirement in order to withdraw any wins, it’s a pretty sweet deal, exclusively for new players. Terms and conditions apply.

Having a look at betting trends can assist you when making your March Madness bets. However, it is important to note that using trends does not give you a guarantee of any success. Betting trends involve looking at past “historical” data to help you make more informed bets. A common March Madness trend is to bet on first-half unders.

Top Tips for Betting on the NCAA Basketball Tournament

Knowing how to bet on March Madness is essential if you are looking to come out on top. Make sure you know how to read and understand the odds and bet types. However, it is also important to remember that nothing is guaranteed. Gambling, in general, involves a lot of luck, and sports betting is the same.

We have put together a few tips below to help you learn how to gamble on March Madness.

  • Look for experience – players who have played in the tournament before tend to perform better than newbies.
  • Know your team – if you have been betting on March Madness before, you probably have your team. Do your research beforehand regarding injuries and other small details people might have looked over.
  • Check the strength of the teams – some teams will have qualified for the tournament without playing against any top teams. They will now look as though they have great potential.
  • Make use of live betting – the tournament is action packed with active betting opportunities. Sometimes there are more favourable odds offered after the game has started. Live betting offers great opportunities in this regard.
  • Bet with your head – you cannot bet emotionally, it is difficult if your emotions are with a team, but this will not help your case in sports betting and the NCAA tournament.
  • Bet at more than one sportsbook – this gives you the opportunity to “shop around”. See where the best odds lie. However, remember to always bet within your limits.
  • Make use of bonuses and promotions – online sportsbooks will offer various bonuses and promotions, whether a welcome offer, free bets or extra credit, it is a great way to help your March Madness betting along.

When learning how to bet on March Madness, it is always great to have some sort of March Madness strategy that you will follow. Whether you are a beginner, intermediate, or advanced bettor, here are some important strategies for you.

1- Basic (Beginner)

As a beginner, you might want to follow in the footsteps of an experienced bettor. You can do this by watching YouTube videos, or alternatively, reading articles that will give you some insight. But you need to remember that there is never any guarantee of anybody or any team winning.

2- Intermediate

As an intermediate strategy, you may want to watch the games intensely. By watching all of the games from the first round, you could potentially pick up things that will help you when placing your bets. For example, you might have found that a team crumbled under pressure late in the game. This could influence your bet in the next game.

3- Advanced (Experienced)

Advanced and experienced bettors tend to use statistics and analytics. There are many analytical sites that help with this.

The March Madness Schedule

Here are a few of the important dates to make a note of regarding the NCAA Tournament. You can write these down, however if you are looking for more detailed information, you can visit the NCAA official website to find out everything you need to know.

  • 17 March: Selection Sunday
  • 19 – 20 March: First Four – last two automatic qualifiers and last two at-large selections play a pair of games in Dayton, Ohio.
  • 21 – 22 March: First Round, played around the country
  • 23 – 24 March: Second Round, played between the first round winners at the same venues.
  • 28 – 29 March: Sweet 16, played between the winners of the second round at a new venue.
  • 30 – 31 March: Elite Eight, played between the winners of the Sweet 16 round at the same venue.
  • 6 April: Final Four, the four winners from the Elite Eights will play back-to-back games to determine the pair for the final game.
  • 8 April: NCAA Championship Game: the final two teams will go head-to-head in a nail biting contest to see who the 2024 champions will be.

Why Bet on March Madness?

The NCAA Tournament is a fan favorite every year, with over 68 million Americans gearing up to place their bets. The first few days offer exciting games all day long. As things draw towards the end, with more teams being knocked out as the days and weeks go by, the anticipation and excitement of the final start to get real.

If you have never known how to bet on March Madness before, you should now have a good understanding of everything involved after reading this March Madness betting guide. Register at a top online sportsbook and join in on the thrill of all things March Madness, you will be hooked.

FAQs

How do I bet on March Madness?

Join a reputable online sportsbook. Search for March Madness and the games you wish to bet on. Do your research regarding bet types and betting odds, and start placing your bets.

Can I bet on a March Madness game while it is being played?

Yes, you can. Live betting is an option at many of the top online sportsbooks. This adds a whole new element of excitement to your betting experience.

Where can I bet on March Madness?

You can join any licensed and reputable online sportsbook that offers March Madness sports betting and bet on any of the games without any problems.

Is there a March Madness offer you can recommend?

Yes, DraftKings are offering something incredible to all its new players. Bet just $5 and get $150 Bonus Bets rolled out to you in six $25 instant bets. Click here to read more.

When is March Madness taking place in 2024?

The 2024 NCAA Tournament starts from March 19, and runs until April 8. The final championship game will be played at State Farm Stadium in Glendale, Arizona.

How much money is bet on March Madness?

March Madness is extremely popular in the U.S, and last year it’s said that $15.5bn was bet during the tournament. That's a $12.4bn increase from the previous year in 2022, according to the Statista Research Department.

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