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March Madness Betting 2023

You think you're ready for March Madness? You're not. Not until you've read our take on March Madness betting odds!

March Madness 2023 Championship Odds

It truly doesn't get better than March Madness. And for sports bettors, it doesn't get better than looking over March Madness odds. After the bracket is formed on Selection Sunday, oddsmakers set hundreds of different March Madness odds including the national title winner, regional winners, Wooden Award winner, and 67 different sets of spreads, totals, and moneylines.

It takes six victories to win March Madness, but bettors can be daily winners by taking advantage of all that top sportsbooks have to offer players.Let's dive into who has a chance to win the 2023 CBB March Madness tourney, and a few sleeper teams worth betting on.

March Madness Odds 2023

Caesars

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2023 March Madness Teams to Watch

We know that the parity of college basketball and the single elimination tournament format of March Madness means that anyone can cut down the nets on the first Monday of April each season. NIL and the transfer portal have also changed the landscape and provided more parity in recent years. But favorites on college basketball betting sites are still favorites for a reason.

Consider that 33 of the last 37 NCAA basketball tournament champions were either 1, 2, or 3 seeds. Breaking that down further, 24 of those champions were 1 seeds, and 12 of the last 15 champions were 1 seeds. With that in mind, our teams to watch during this year's 2023 NCAA Tournament are among the top teams in the nation. After all, the tournament's history shows they have the best chance to win March Madness.

All odds courtesy of DraftKings Sportsbook and current as of 2/16

Houston

The Cougars have been a serious March player for the better part of the last fives seasons under Kelvin Sampson, including a 2021 Final Four run. But Houston has never been in this good a spot this late in the season – the Cougars are well on their way to earning a No. 1 seed for the first time since 1983.

This is a uniquely balanced group led by senior guard Marcus Sasser and freshman forward Jarace Walker, who’ve helped the Cougars roll through the American Athletic Conference competition. Houston is a top-10 team on both ends of the court with plenty of experience. Add in a top seed and the Cougars will be a tough out in the postseason.

Purdue

The Boilermakers have been the class of the Big Ten all season behind massive Wooden Award odds favorite Zach Edey. The 7-foot-4, 295-pound center is just an impossible matchup. And he’s got a nice supporting cast that has Purdue eyeing its first Final Four trip since 1980.

The Big Ten is all bunched up near the top this year, but Purdue has been able to separate itself so far thanks to a 10-1 start in conference play. This is Matt Painter’s 19th season in West Lafayette and he’s looking at a lot of potential firsts – Purdue has never been a No. 1 seed on his watch and the Boilermakers haven’t made it to the final weekend. They’ve made the Sweet 16 in four of the last six seasons, but there’s a chance to do a lot more this season – it’s National Championship or bust for Purdue as it looks to cut down the nets for the first time in school history.

Alabama

March hasn’t been good to the Crimson Tide in recent years. They were ranked as high as No. 6 in the country in 2021-22 and ultimately stumbled to a No. 6 seed in the NCAA Tournament, where they got bounced by No. 11-seeded Notre Dame. The Tide were a No. 2 seed in 2020-21 but lost to another No. 11 seed in UCLA.

Now that fourth-year coach Nate Oats and Alabama have had a taste of the big stage, the Tide should be poised to make a serious run in 2023. Freshman forward Brandon Miller has been the top producer and it’s easy to see why – the 6-foot-9 big man nearly averages a double-double, and he’s hitting more than 40% of his 3-point attempts.

There’s still a ways to go before Selection Sunday, but the Tide are in position to potentially snag the No. 1 overall seed in the dance. And Alabama is built to take advantage.

Kansas

Life for the defending national champs isn’t always as good as it sounds. Expectations have never been higher, complacency can creep in and there’s a massive bullseye on the back for every single game. Having said that, the Jayhawks don’t look content to settle. This Kansas team is absolutely capable of getting back to the Final Four after taking it down a year ago.

The Jayhawks have been a No. 1 seed in four of the last seven seasons under Bill Self, and most bracketologists have them on pace for another top seed in 2023. Junior Jalen Wilson is holding it down, averaging 20 points per game as a serious Wooden Award contender. The key pieces have changed, but so far the results look the same – Kansas is as dangerous as any team in the country come March.

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NCAA Most Outstanding Player Betting Odds

All odds courtesy of DraftKings and current as of 2/16

Aside from your office bracket pool, the NCAA Tournament is one of the best betting events of the year. There’s so many different ways to wager, whether it’s point spread, moneyline, player props or exotics, and we’ll be keeping a close eye on NCAA Most Outstanding Player odds ahead of the tournament.

There’s often good value to be had here – Kansas’ Ochai Agbaji was listed at +500 ahead of the 2022 Final Four, in which the Jayhawks beat Villanova before topping North Carolina in the title game. Agbaji took MOP honors before moving on to the NBA Draft, where he went to the Utah Jazz in the first round.

This award has gone to a player on the winning team every year since 1984, so that should be first and foremost for consideration. Purdue’s Zach Edey, Kansas’ Jared Wilson and Alabama’s Brandon Miller should be close to the top of the board once the bracket is released, after which the lines change drastically based on the buzzer-beaters and upsets that send star players packing early and propel previously-unknown players to stardom.

Stay tuned to Bookies.com for complete Most Outstanding Player Odds and our best picks once the bracket is released in March.

Best Sportsbooks for March Madness 2023

There's nothing quite like college hoops in March. The best betting apps know this, and they typically offer heaps of different NCAA Tournament odds. The types of bets are truly limitless, with hundreds of different college basketball futures odds, game lines, totals, and moneyline odds to win March Madness games. But that also means it can be difficult to figure out where exactly to place your bets. Whether you think Kansas is set to repeat in the Final Four or have a newcomer like Purdue taking the tile, the right sportsbook can make all the difference. Here are some of our favorites for March Madness odds:

DraftKings Sportsbook

If you're looking for a combination of March Madness odds, futures odds, great live betting, and excellent promotions during the NCAA Tournament, DraftKings is the spot to be. New users can Bet $5 on a college basketball moneyline and win $150 in bonus bets if their team wins. The offer is paid out in 6 $25 bonus bets that expire after seven days. That offer is in addition to DraftKings’ standard welcome offer of a 20% deposit match up to $1,000.

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Caesars Sportsbook

Caesars Sportsbook routinely provides bettors with the best sign-up bonuses in the industry. Currently, new users can get up to $1,250 back in bonus bets with the Caesars Sportsbook promo code BOOKIESFULL. Just make your first bet and if it loses, you’ll get the amount back in the form of a bet credit (up to $1,250). On top of that, Caesars Sportsbook is one of the our favorite sports betting sites in terms of navigation, ease of use, and the sports betting app.

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BetMGM Sportsbook

BetMGM is always one of the best options when it comes to promos, specifically for special events. For March Madness, “The King of Sportsbooks” is offering a first bet back bonus of up to $1,000. Players will keep all the profits on a winning wager and receive the same amount back as bet credits if it doesn’t hit. Of course, the added bonus is that you’ll now have a BetMGM account, which means you’ll get all the perk of M life Rewards.

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FanDuel Sportsbook

FanDuel is the U.S. market share leader for a reason. It offers a great user experience, plus great promotions and same-game parlays. This year, for March Madness, FanDuel is giving out a No Sweat First Bet of up to $1,000 for new players. The bet can be a spread, total or moneyline wager and players will be issued a bet credit equal to the amount of the initial wager on all losing tickets.

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PointsBet Sportsbook

If you're looking for something different from the traditional bets you likely made in the past week, consider PointsBet Sportsbook and PointsBetting. It essentially is a bet that pays out based on by how much you win your bet, or costs bettors based on by how much they lose. If a player bets $10, they'll win $10 for every point Duke wins past three points, and they'd lose $10 for every point Duke did not cover by. So if Duke won by 11 points, bettors would win $80 (11-3 = 8 points difference). If the Blue Devils lost by 2, bettors would lose $50.

PointsBet has promised to offer some of the top March Madness odds in the industry. For March Madness, PointsBet is also offering up to five $50 bet credits on a player’s first five fixed-odds wagers. That means if any of the first five wagers lose, players will receive up to five $50 free bet credits in return.

March Madness 2023 Betting Restrictions

Online sports betting is now legal in more than 25 states. However, unlike professional sports which allow for unlimited betting on all markets, there are some restrictions when it comes to in-state betting and March Madness odds.

These restrictions are in effect in the following locations: Connecticut, Delaware, Washington D.C., New Hampshire, New Jersey, New York, Oregon, Rhode Island, South Dakota, Virginia, and Washington. The restrictions vary. For instance, in Washington, New Jersey and Connecticut, you can bet on March Madness odds, but you can't wager on any state college team. Be sure to check your local guidelines, but your app will also tell you right away what's available.

Massachusetts sports betting is going live on March 10. Betting on in-state college teams is not legal in Massachusetts, except on tournaments involving four teams or more that take place outside the regular season. For that reason, betting on March Madness is permitted in Massachusetts.

NCAA Final Four Tournament History

2022: Kansas, North Carolina, Duke, Villanova

2021: Baylor, Gonzaga, UCLA, Houston

2020: N/A, COVID-19

2019: Virginia, Texas Tech, Michigan State, Auburn

2018: Villanova, Michigan, Loyola-Chicago, Kansas

2017: North Carolina, Gonzaga, Oregon, South Carolina

2016: Villanova, North Carolina, Oklahoma, Syracuse

2015: Duke, Wisconsin, Michigan State, Kentucky

2014: Connecticut, Kentucky, Florida, Wisconsin

2013: Louisville, Michigan, Syracuse, Wichita State

2012: Kentucky, Kansas, Ohio State, Louisville

FAQs

Which Sportsbooks Offer the Best 2023 March Madness Odds

College basketball betting odds will be similar across different sportsbooks, so we recommend bettors use the top online sportsbooks that give them the best promotions such as the ability to earn free bets, odds boosts, and other bonuses during March Madness. NCAA Tournament odds are available at most major online sportsbooks, so shopping around for the best promotions is always in the bettor's best interest.

Where is College Basketball Betting Legal?

College basketball sports betting is legal in all states where online sports betting is allowed. Several states restrict college betting to teams outside of their jurisdiction, i.e. you can't bet on a UConn basketball game if you're in CT. Check your local guidelines. If all else fails, your sports betting app will let you know what college markets are available.

Where is College Basketball betting illegal?

March Madness betting is legal in all states where online sports betting is also legal. Of the states where online sports betting is legal, restrictions exist on in-state collegiate betting in the following locations: Connecticut, Delaware, Washington D.C., New Hampshire, New Jersey, New York, Oregon, Rhode Island, South Dakota, Virginia, and Washington.

Which Sportsbooks Offer College Basketball live betting?

All of the top mobile betting sites offer college basketball live betting. Our favorite sportsbooks for live betting odds are ones that have great mobile betting apps, quick response times, and bet slips that populate effectively. Those sites, of course, also offer college basketball futures that include national title winner, Most Outstanding Player odds, regional winners, and odds on teams to advance to the Sweet 16.

Who is the favorite to win the March Madness tournament?

The current favorite to win March Madness is Houston at +700. That means you'd win $700 if you bet $100 on the Cougars to cut down the nets in Houston.

When does March Madness start?

The First Four takes place March 14-15, 2023, in Dayton, Ohio. The opening rounds of the NCAA Tournament start March 16-17, 2023, at eight different locations across the country.

How much do Americans bet on March Madness?

Americans bet an estimated $8.5 billion on March Madness games in 2019, according to the American Gambling Association. An estimated 40 million will fill out a bracket and wager roughly $4.6 billion in office pools and picks competitions. Nevada sportsbooks took on $495 million in NCAA Tournament bets in 2019.