March Madness is one of the most exciting sporting events of the year.
Not only are the games entertaining with crazy finishes, but we also get several going on at the same time in the early rounds of the tournament. With all the action, this is a perfect event for sports betting.
When wagering on March Madness, it’s important to choose the best sportsbook to put yourself in the best position to succeed while betting on this wild tournament.
Benefits of Betting on the March Madness Online
Betting on March Madness online is great because it’s so convenient. You can place a wager directly from your phone or computer instead of having to line up at your local sportsbook to fill out your bet.
This is especially important with March Madness because the games are going on all day, so it’s a lot easier to bet quickly on the sportsbook app when you have decided on your preferred wager.
If you’re interested in live wagering, betting online is the only way to go. Live betting requires a quick decision, as odds are updated in real-time during stoppages in play.
This form of betting can be profitable because you can take advantage of some value if a heavy favorite gets off to a slow start, as you can capitalize on the odds shift before they come back to win.
Betting online also allows you to enjoy the useful bonuses and promotions provided by the sportsbook, which are usually only available on their apps.
Placing an online wager gives you an opportunity to shop around for the best odds, searching for the top price on several betting sites. This gives you more value on your wagers.
It’s also more fun, as you can place your bets while watching the game, whether it be at home alone or at a bar with friends. Online betting is the way to go, so be sure to sign up for an account today!
Best March Madness Betting Sites
It’s important to choose the best betting sites to make the March Madness experience not only more enjoyable but more profitable as well.
Here are my favorite betting sites for March Madness betting:
DraftKings Sportsbook
DraftKings Sportsbook originally started as a daily fantasy sports platform back in 2012. After several years as one of the leaders in DFS, DraftKings expanded to sports betting in 2018. It’s now one of the most popular betting sites in the country.
The sportsbook features a comprehensive selection of bet types for March Madness, such as moneylines, point spread, same game parlays, player props, totals, and futures. It also has a user-friendly app that optimizes the betting experience.
Whether you want to make a pre-game bet on a favorite or a live bet on a value pick, DraftKings is a great choice for March Madness betting.
FanDuel Sportsbook
FanDuel Online Sportsbook was a pioneer in the daily fantasy sports space, founded in 2009, before moving into the sports betting industry in 2018. The betting site is considered one of the best in the country, reflected in the fact that it is usually one of the first sportsbooks to open up in new markets.
The site created same game parlays, which are a popular bet type where players can choose multiple selections from the same game for a chance to win higher payouts. This has spread like wildfire throughout the sports betting industry because player props go hand-in-hand with fantasy sports.
FanDuel has an unmatched player props selection, which makes it a terrific choice for March Madness betting since most sportsbooks have limited props for March Madness.
Caesars Sportsbook
Caesars Sportsbook was created by casino resort giant Caesars in 2018. The company purchased William Hill in 2021, one of the most popular international sportsbooks. This has allowed them to really take off across the United States.
The website features every betting market that you could ask for, including daily odds boosts that add value to your wagers. These boosts are great for March Madness betting, as you can get a favorite at a discounted price or more value on your underdog pick.
There is also a robust VIP Rewards system that can be used at the hotel for dining, entertainment, shopping, and much more. Let’s not forget some of the best welcome bonuses and promotions in the industry.
BetMGM Sportsbook
BetMGM Sportsbook was formed out of a partnership with MGM Resorts and Entain Holdings in 2018. It’s become one of the most successful betting sites in the country.
The website features a robust selection of bet types, including a detailed live-betting platform that allows bettors to live-stream. This is a great feature that allows you to sweat your bets while following along with the action.
March Madness bettors will also enjoy the “One Game Parlay" feature, which gives you the option to select from pre-built parlays or create your one. This works well with the tournament because there is so much action.
Bet365 Sportsbook
Bet365 Sportsbook is one of the largest sportsbooks in the world, debuting in the United States in 2019. It’s a trusted brand that offers multiple payment methods with a helpful customer support team.
The sportsbook features a vast selection of bet types, including one of the best live betting platforms on the market. Bettors are able to place in-game wagers on player props, which helps differentiate Bet365 from its competitors since this is a unique feature.
They also have a live-streaming component, which allows players to watch their bet as the action unfolds. March Madness bettors will enjoy placing in-game wagers at Bet365.
PointsBet Sportsbook
PointsBet Sportsbook was created in Australia in 2018. It has now expanded across the United States, becoming one of the most successful betting sites in the country, particularly due to its innovative platform.
The sportsbook has its own betting system, known as Points Betting. Bettors will win more if their team wins by a larger margin, but lose more if the opposite is true.
This is an appealing higher risk but greater reward system, especially with March Madness, where we could see some underdogs cover large point spreads or even win outright.
How To Pick the Best March Madness Betting Sites
The following criteria can help guide you on choosing the right betting site for March Madness betting:
Welcome Bonuses
Check to see what type of welcome bonus is offered.
First deposit bonuses are when the sportsbook matches your first deposit up to a certain amount. Risk-free bets are when your first bet is reimbursed up to a certain amount if it loses.
These are helpful because they are free bet credits to allow you to try to increase your bankroll.
Promotions
You’ll want to also try to take advantage of any March Madness promotions. Some sportsbooks offer promos that include odds boosts on the games.
For example, Houston moneyline could be boosted from -175 to +100. In this case, you’d only be risking $100 instead of $175 to win $100.
This provides you with better value on your wagers.
Bet Types
It’s also a good idea to try to choose a sportsbook that features player props and same-game parlays, which are great because you can parlay several outcomes in the same game and try to correlate your bets, giving you a better chance at winning.
These college basketball bets also come with massive payouts, but note that you have to get all of your picks right to cash!
User Interface
User interface is another key component when choosing a March Madness betting site.
You want it to be easily accessible since there are so many games going on at the same time. If you’re engaging in live betting, you won’t want to get caught up in the clutter.
Live Betting
It’s important that your March Madness site has a detailed live betting platform. The tournament translates so well to this bet type because there are so many games happening at the same time.
You’ll want the platform to include several bet types for in-game wagers.
Best March Madness Bets You Can Make
There are several bet types to focus on when placing a March Madness bet.
My first advice would be to try to find an underdog that you like since there are several upsets during the tournament. You can place a bet on the underdog to cover the point spread and sprinkle a smaller bet on the moneyline in case that team wins outright.
March Madness betting is also good for game totals, as you can take a look at which teams play at a fast pace and hit their free throws at a high rate. Teams that play slow and struggle to hit their free throws would lean more toward lower-scoring games.
You can take a look at team props, such as three-pointers made and free throws made. Some teams are much better than others at hitting their shots from beyond their arc and at the free-throw line, which is a major difference from the NBA.
Player props are good too, as you can bet on points, rebounds, assists, three-pointers made, and much more.
Basketball is great with player props since there are so many different statistics, so be sure to take advantage of this with March Madness betting.
Lastly, don’t forget about sprinkling some money on a futures bet, such as an underdog making it to the Final Four. We’ve seen several teams beat the odds and go on deep runs in the tournament, so find your preferred choice for a chance at a nice payout.
Live Betting on March Madness
Live betting is when you place a bet after the game has already started. The odds are updated in real-time and you can bet when there is a stoppage in play.
This is perfect for March Madness, as there are always several games happening at once and, as such, a multitude of live betting options are available.
The best way to approach live betting is to search for value. One way to do this is to look closely at a game where a heavy favorite gets off to a slow start. You would be able to get them at a much lower spread, probably around three or four points. This is great value.
You can also try a longshot live bet, where a team is down by 10 or more points in a game with a close point spread. Take the team that is losing because the moneyline odds will be much higher, giving you a chance at a larger payout.
Betting Site Offers to Keep in Mind
Check out each of the different types of welcome bonuses below.
No Deposit Bonus
No Deposit Bonuses or free bets are when you receive some bet credits from a sportsbook without having to deposit any funds. This is usually between $5-$20, intended to give you a chance to explore the sportsbook.
Users are often given free bets as a loyalty reward for being an experienced customer.
First-Deposit Bonus
First-deposit bonuses are when a sportsbook will match your first deposit in bet credits up to a certain amount, which can vary between $100-$1,000.
This is a great opportunity to build up your bankroll, so be sure to take advantage.
Second-Chance Bet
Risk-free bets are when sportsbooks will reimburse your first bet if it loses, up to a maximum, usually between $100-$1,000.
This is useful because you can take a shot on a bet with longer odds because there is less financial risk since you’ll get the same amount in bet credits if you lose.
Bet & Get
Bet & Get is a bonus where users will receive rewards if they bet on a certain market, usually on a marquee event.
For example, a Bet & Get can be if a user bets on the NCAAB Semifinals, they might receive $5 in bet credits to use on the National Championship.
Where Can I Legally Bet on March Madness Online?
You can bet on March Madness online in the following states:
- Arizona
- Arkansas
- Colorado
- Connecticut
- Illinois
- Indiana
- Iowa
- Kansas
- Louisiana
- Maryland
- Massachusetts
- Michigan
- Nevada
- New Hampshire
- New Jersey
- New York
- Ohio
- Pennsylvania
- Rhode Island
- Tennessee
- Virginia
- West Virginia
- Wyoming
Oregon currently offers online betting, but you aren’t allowed to bet on college sports.
Why You Should Avoid Illegal Betting Sites
It’s important to avoid illegal betting sites for the following reasons:
- Illegal betting sites have unreliable customer support, making it difficult to resolve any potential issues.
- They don’t provide you with the same promotions, such as odds boosts or welcome bonuses.
- The deposit and withdrawal methods can also be slow and hard to trust.
- When you deposit funds from an illegal betting site, it will show up as a different name on your bank statement.
- Odds are not as good as betting markets in legal sites, as illegal sites often inflate their odds.
Choose More Than One March Madness Betting Site
It’s important to choose more than one March Madness betting site. For one, you can take advantage of multiple welcome bonuses, giving you a chance to build your bankroll.
Remember that these are one-time offers, so it’s a good idea to max out the welcome bonus.
You can also compare prices on different sportsbooks. For example, one site might have Illinois as 3.5-point favorites with another site at 2.5-point favorites. While that seems like a minor discrepancy, that one point could wind up as the difference between a win and a loss.
There are also multiple promotions to choose from, so be sure to sign up for a few sites when engaging in March Madness betting.
