If there is a worthy rival to the Super Bowl’s crown of biggest sports betting event of the year, then it is definitely the annual NCAA Tournament, also known as March Madness. The tournament has become a certified popular spectacle that has permeated throughout the United States into classrooms, offices, houses of worship, and more. Tens of millions of Americans not only tune in to the games, but also fill out brackets and put money on the tournament. In fact, the American Gambling Association (AGA) estimates that over $8 billion are wagered on the tournament alone.
Given the hype and money surrounding March Madness, the odds to win the NCAA Tournament are big business and take on even more importance. As is the case with other popular sporting events such as the Super Bowl, bettors can place their wagers at almost any time during the year (including the day after the previous tournament ends!).
With the 2023 First Four scheduled for March 15-16 and the First Round tipping off on March 14-15, college basketball futures are already alive and well! Below are the latest NCAA Tournament odds, including the favorites and an automatic odds comparison to bring you the best value on the legal market.
Oddsmakers take a large variety of factors into consideration when setting (and adjusting) futures odds to win March Madness. A large part of those considerations includes any team’s performance and makeup from the previous season. For example, win/loss record, the previous season’s NCAA tournament result, and personnel changes such as players that have left the team due to declaring for the NBA, having transferred, injury, and more. In addition to performance and roster considerations from the previous season, bookies can also sometimes adjust NCAA Tournament odds when team schedules are released. This is due to taking into account factors such as strength of schedule, non-conference opponents and tournaments, and key home and away game locations.
Regardless of whatever Vegas odds March Madness gives a team for futures, it is important to remember that March Madness is called March Madness for a reason. No team is safe at any point in the tournament due to the single-elimination structure of the Big Dance. Each season there are significant upsets, Cinderella stories, buzzer beaters, and some of the craziest endings in sports history. As such, think carefully before placing your bets, and above all, have fun doing so.
College Basketball Futures are written in what is known as American betting odds. What this means is simply that a positive sign (+) denotes an underdog and represents your profit if you bet $100. For example, $100 at +100 will win you $100 ($200 in total; $100 in winnings plus your initial wager of $100). Similarly, a negative sign (-) denotes a favorite and represents the amount you must bet in order to win $100. For example, $100 at -200 will win you $50 ($150 in total; $50 in winnings plus your initial wager of $100).
Given that futures odds, particularly the odds to win March Madness, are set so far in advance of the actual competition, the odds themselves can look a little bizarre to the uninitiated. For example, Norfolk State University having odds of +100000 is higher than the standard odds many bettors are used to seeing. But don’t be intimidated! All that means is if you bet $100, you stand to win $100,100. Not a bad payout, eh?
For more information on calculating odds and associated payouts, check out the Sidelines odds calculator and leave the heavy thinking to us.
You can place a college basketball futures bet at many online sportsbooks. However, before placing your bet legally with an online sportsbook, you should first check to see if online sports betting is legal in your location. For more information on where sports betting has been legalized and a list of the fine legal operators working in the relevant states. Once you’re physically located in a state where legal online sports betting is kosher, you’ll want to compare the odds on your bet to make sure you’re getting the best value for your money before signing up with a sportsbook and placing your wager.
Despite the dead giveaway in the event’s name, March Madness 2022 officially begins with the First Four on March 15-16, 2022. This is followed by the First Round on March 17-18, the Second Round on March 19-20, the Sweet 16 March 24-25, the Elite Eight March 26-27, the Final Four on April 2, and the National Championship on April 4th.