March Madness Betting Odds: Understanding Tournament Lines & Odds for the NCAA Tournament

Odds in March Madness betting represent the probability of an outcome occurring and determine how much you can win on a bet. They are typically displayed in American odds format (+/-), fractional odds, or decimal odds.

Understanding American Odds (+/-)

American odds, also known as Vegas odds, are the standard format used by U.S. sportsbooks to display betting lines.

While American odds dominate March Madness betting in the U.S., international bettors may encounter decimal odds (popular in Europe and Australia) or fractional odds (commonly used in the U.K.).

• Positive Odds (+): Indicate an underdog. The number represents how much you’d win on a $100 bet.
  • Example: +250 → A $100 bet wins $250 in profit.
• Negative Odds (-): Indicate a favorite. The number shows how much you must bet to win $100.
  • Example: -150 → You need to bet $150 to win $100.

Types of March Madness Betting Odds

• Moneyline Odds: Betting on which team will win the game outright.
• Point Spread Odds: Betting on a team to win or lose within a set margin.
• Over/Under Odds: Betting on the total points scored in a game.
• Player Prop Odds: Bets on individual stats like points, rebounds, or assists.
• Futures Odds: Betting on long-term outcomes, like who will win the championship.

Where Can You Bet on March Madness?

Odds vary between sportsbooks, so it’s smart to compare lines before placing a bet. If you’re in a legal betting state, check out:

• DraftKings, FanDuel, BetMGM, Caesars (real-money sportsbooks)
• Fliff, Rebet Social Sportsbook, Sportzino (social sportsbooks)

Want to dive deeper into betting strategies? Check out our guide on how to read line movement.

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To make sure you get accurate and helpful information, this guide has been edited by Nick Slade as part of our fact-checking process.