How to Bet on March Madness: A Complete Beginner's Guide
What is March Madness Betting?
March Madness betting revolves around the NCAA Division I Men's Basketball Tournament, a single-elimination tournament held each spring in the United States. It's one of the most popular and exciting sporting events for betting, with millions of people filling out brackets and placing wagers on the games.
Basic Rules and Format
The tournament features 68 teams competing in a single-elimination bracket. The tournament is divided into four regions, and the winner of each region advances to the Final Four. The two winners of the Final Four games then play for the national championship. The tournament is known for its upsets and Cinderella stories, making it a thrilling event to watch and bet on.
Types of Bets Available
March Madness offers a wide range of betting options, including:
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Point Spread: The most common way to bet on March Madness games. The sportsbook sets a margin of victory for the favored team.
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Moneyline: A simple bet on which team will win the game outright.
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Totals (Over/Under): A bet on the total number of points scored by both teams in a game.
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Prop Bets (Propositions): Bets on specific events within a game, such as a player's total points or a team's total rebounds.
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Futures: Long-term bets on outcomes like which team will win the national championship.
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Parlays: A single bet that combines multiple individual wagers. All wagers in the parlay must win for the bet to pay out.
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Bracket Pools: A popular way to bet on March Madness with friends or coworkers. Participants fill out a bracket, predicting the winner of every game in the tournament.
Step-by-Step Guide to Placing a Bet
- Choose a Sportsbook: Select a legal and reputable online sportsbook.
- Create an Account: Sign up and deposit funds.
- Find the March Madness Section: Navigate to the college basketball or March Madness section.
- Select a Game: Choose the game you want to bet on.
- Choose Your Bet: Select your desired bet type (point spread, moneyline, etc.).
- Enter Your Wager: Decide how much you want to bet.
- Confirm Your Bet: Review your bet slip and confirm your wager.
Common Mistakes to Avoid
- Only Relying on Your Bracket: While bracket pools are fun, they shouldn't be your only form of March Madness betting. Individual game betting offers more opportunities to find value.
- Overvaluing Seeding: While higher-seeded teams are generally better, upsets are common in March Madness. Don't be afraid to bet on a lower-seeded team if you think they have a good matchup.
- Ignoring Conference Tournament Performance: A team's performance in their conference tournament can be a good indicator of their form heading into the NCAA Tournament.
- Chasing Losses: Don't increase your bet size to try and win back money you've lost. This is a quick way to deplete your bankroll.
Tips for Beginners
- Look for Experienced Coaches: Coaches with a proven track record of success in the tournament can be a valuable asset.
- Pay Attention to Pace of Play: The tempo of a game can have a significant impact on the total number of points scored.
- Consider Travel and Rest: Teams that have to travel across the country or have a short turnaround between games may be at a disadvantage.
- Have Fun and Bet Responsibly: Set a budget and stick to it. Sports betting should be an enjoyable form of entertainment.