2023 March Madness Odds
2023 March Madness Odds
Each spring, for a few weeks, the NCAA Men’s Basketball Tournament becomes the focal point. This tournament, fondly referred to as March Madness, sees the nation’s top teams compete to determine a champion.
Chicago has often acted as a central location for the tournament, with local talents like Isiah Thomas, Kendall Gill, and Deron Williams giving captivating performances and scoring high on the largest platform.
Legal sports betting has arrived in Illinois and online registration has reopened just in time for this year’s March Madness betting. View the most recent March Madness odds below, along with a list of the premier online sportsbooks in Illinois.
Best March Madness betting apps 2023
Live March Madness odds
Below, you can check the live odds feed for current March Madness game lines (point spreads, moneylines and totals) from various IL online sportsbooks. You can also find futures odds for teams to reach the Final Four or win the National Championship. By clicking on any odds, you’ll be directed to the online sportsbook where you can claim your bonus and start placing your March Madness bets.
How to bet on March Madness online in IL
When you’re ready to place your bet on March Madness, you’ll require a legitimate, regulated sportsbook to handle the transaction. All the sportsbooks we recommend meet this requirement. Plus, initiating the process is fast and hassle-free.
Firstly, click on our links to set up an IL betting account and qualify for special bonus offers. You will be directed to the registration page where you will enter your name, email address, and date of birth.
Once everything is in place, you’ll need to hit the submission button to officially set up your new account. You can then spend some time exploring the college basketball betting markets. However, don’t forget to take a moment to download the app for your device from the sportsbook’s website.
After logging into the app, you will need to deposit some money. There are several payment options available for you to choose from. Once that’s done, you can start placing your bets.
Bear in mind that sports betting odds can change rapidly, particularly during the March Madness season. The odds given by different books won’t always match. For instance, BetRivers Illinois might offer one rate, while PointsBet Illinois may set a different one.
If you register for numerous online sports books through our links, you will gain access to the best odds as they become available.
Bets for NCAA March Madness
For each March Madness bracket game, sportsbooks provide odds and lines. The main bet types are displayed in the listings of online sportsbooks and will appear as follows:
| Team | Point Spread | Moneyline | Total |
|---|---|---|---|
| Kentucky | +1.5 (-110) | +110 | O 139.5 (-110) |
| Duke | -1.5 (-110) | -120 | U 139.5 (-110) |
The odds for the primary bet types are displayed beside the names of the two teams. In this instance, Duke is favored by 1.5 points on the spread and also favored on the moneyline. The predicted total has been established at 139.5 points. Let’s quickly review how these basketball bets function:
- Point Spread: You have the option to select the preferred team minus the points or the underdog with additional points. The team you select must cover the spread for your bet to be successful.
- Moneyline: This is a simple wager where you select the victor. Negative moneyline odds are associated with favorites, while positive odds are linked to underdogs.
- Totals: The total number of points scored in a game is set as a benchmark by oddsmakers. Wagers can be placed by bettors on either over or under this total.
Each of these three betting types will draw a lot of attention during March Madness, however, there are also other options to take into account. Here are some additional methods to place your bets:
- Props, or proposition bets, are bets placed on individual games or the entire tournament, such as which team will excel in the first half of the game.
- Live Betting: This is a bet you can make in real-time as games are happening, featuring options like updated spread and moneyline wagering.
- Parlays: This type of bet involves including several picks on one slip. It’s a gamble that carries both high risk and high reward, as you must correctly predict all selections to win the bet.
Bracket contests significantly increase the thrill of NCAA March Madness. However, it’s challenging to surpass the excitement of single-game betting, which provides more winning opportunities. In addition, you can participate in one or two bracket contests while primarily concentrating on individual games.
Which Illinois teams are expected in March Madness this year?
Understand that the Illinois sports betting law prohibits online wagering on in-state college teams. Thus, if any local teams get invited to the championship, you won’t be able to place bets on those teams using a mobile device.
However, now you have the option to do so in person at retail sportsbooks.
Though it’s not the perfect scenario, you’re still free to cheer for them as they progress in the tournament. You also have the option to cross the border into Indiana to place your bets.
Which local teams have the highest chances of qualifying for this year’s tournament? According to KenPom, these are the top-rated teams from Illinois:
3 best March Madness bets
The vast quantity of games during March Madness may make betting seem somewhat daunting. Nevertheless, this can be tackled by adopting a systematic strategy and concentrating on the games that you find most interesting. Here are three pointers to remember as you plan your March Madness betting approach:
- Start Early with Futures: Futures odds for the Final Four and national champion are released during the offseason. Keep a close eye on these numbers as soon as they’re announced and stay engaged throughout the season. If you can lock in good prices early on for a team you predict will succeed, there’s a potential for significant returns if they do win. Be Prepared for Early-Round Upsets: The unpredictability of the first two rounds adds to the thrill of March Madness. Pay attention to lower-seeded teams that are performing well, especially against higher seeds who might have barely made it. While the top four seeds on each bracket typically have high win rates, surprises can and do happen. Don’t Be Afraid to Use the Moneyline: The moneyline may not present much value in games where one team is clearly superior. However, it can be a valuable tool in closer contests. Despite its negative perception, odds of -200 or less should not be ignored. For instance, a $100 bet at this rate could yield a 50% return if successful.
We pointed out the importance of vigilantly monitoring the odds in the futures market, and the same rule applies to individual game bets. Odds for March Madness are revealed long before the game starts, and you can expect the betting line to fluctify.
Keep an eye on the line movements to get an idea of where the money is heading. Also, don’t hesitate to compare prices across various operators. For instance, DraftKings might offer a better price for one game, while Caesars could have the best price for another.
3 worst March Madness betting mistakes
Sometimes, understanding what to avoid is equally crucial as knowing what to do. This is particularly true when placing bets on sports. We’re all bound to make errors and poor judgments, and it’s impossible to completely evade these outcomes.
However, when it comes to betting, there are certain pitfalls you should avoid, assuming you know what to look out for. Here are three possible traps you should avoid as you gear up to bet on March Madness:
- Betting Beyond Your Means: We understand. Engaging events like March Madness might tempt you to push your betting boundaries. However, it’s crucial to resist these urges. Always stay within your comfort zone. This applies to the number of bets you place, but more importantly, to the amount of money you’re risking.
- The Impact of Unfocused Research: A well-designed handicapping system can significantly boost your profits. However, unfocused research could negatively affect them. To ensure you’re benefiting from your research, concentrate on what truly matters. Overloading on information can result in bad decisions, so pay attention to factors that significantly influence game outcomes.
- Failing to Shop for Betting Lines: A half-point difference on a spread or total may appear insignificant, but it can definitely influence your outcomes. This also applies to minor variations on the moneyline. If you’re not shopping for betting lines when analyzing the games, you’re not doing it correctly. Always seek out the best odds before placing your bets.
In addition to steering clear of the aforementioned mistakes, you can further minimize potential harm by having a well-thought-out strategy for March Madness. It’s essential to have a set budget for your intended stakes and a specific number of games per round you aim to bet on.
You can designate a specific amount of money from your bankroll for single-game bets, while reserving some for props and live betting. Consider what amount you can feasibly manage for the games, then narrow it down to your best choices on the board.
What are March Madness bracket contests?
The unveiling of the March Madness bracket is a highly anticipated event in the college basketball season. The bracket sets the tournament’s schedule and forms the foundation for numerous contests.
Bracket contests can range from simple ones at your workplace or local hangout to sophisticated ones online. Some of these online contests are free to enter, while others require an entry fee. Regardless of the type of contest, individuals with the highest scoring bracket stand a chance to win prizes.
The complimentary contests may be amusing, but the larger ones tend to draw a lot of participants, making it challenging to stand out or win. On the other hand, paid contests, which usually have fewer participants, offer a more feasible opportunity for victory.
Sports betting apps and online sportsbooks offer contests in both categories. We will discuss what to watch out for shortly. Participating in brackets is an excellent method to get involved in March Madness, but wagering on the games also has its merits.
From the initial First Four to the national championship game, a total of 67 games are up for consideration. There are multiple betting options for each game, providing even more opportunities to potentially win money.
Best online March Madness bracket contests
With the legalization of sports betting in Illinois, it’s anticipated that top operators will pull out all the stops during tournament season. Not only can we expect to see markets for all games, but it’s likely there will also be significant bracket contests.
Although we don’t have the exact details yet, we can examine the actions of some of the leading stores in other states recently. For instance, DraftKings Sportsbook and FanDuel Sportsbook have previously provided some significant free-to-play contests.
These contests function similarly to any other bracket contest: You select the victor of each tournament game. Ensure that your bracket is completed before the commencement of the first game. Additionally, refer to our guide for predicting March Madness upsets.
Prizes are indeed available for the winner, but it must be reiterated that free games attract a substantial user base, making winning quite challenging. Therefore, keep an eye out for paid contests offered by the leading books.
Prizes are awarded to the highest-scoring brackets, and it’s not just DraftKings and FanDuel dominating the scene. Be sure to watch out for March Madness contests hosted by operators like Caesars Sportsbook, PointsBet, and BetMGM sportsbook in Illinois.
March Madness FAQ
CBS Sports and Turner Sports currently hold the broadcast rights for the NCAA Men’s Division I Basketball Tournament. As it stands, the games are set to be aired on certain networks.
- First Four: TruTV
- CBS, TBS, TNT, and TruTV will broadcast the first and second rounds.
- CBS and TBS: Sweet 16 and Elite Eight
- CBS: Final Four and Championship
All the aforementioned networks can be accessed through several cable, satellite, and streaming services. You should also be able to view via the network’s app that is broadcasting the game, although it’s important to note that valid login credentials are typically required.
Currently, the most advisable action is to go to NCAA.com and search for the men’s basketball section. You have the option to register for more information about the Final Four using your email address. Once more details about prices and packages become available, you will receive an update. Once the tickets are publicly available for purchase, major ticket brokers and resellers should have them in stock.
The cost will fluctuate depending on the year and location, but anticipate a minimum investment of $200. Bear in mind, this is the starting price and any tickets that reach the resale market will likely have a higher price tag. On average, expect to spend somewhere between $200-$300 as a baseline for tickets, if not more.