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March Madness Odds 2023

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Congratulations to the Kansas Jayhawks on winning a thrilling game Monday night against North Carolina and becoming the 2021-2022 NCAAM National Champions. Sportsbooks wasted no time posting odds on who will win the 2022-23 national championship. However, what may be surprising is the lack of a consensus as to who the favorite is.

But the odds have changed in the weeks since the 2022 Tournament concluded. While the odds have changed at many sportsbooks, there still is not a consensus favorite for next season. Duke is the favorite at DraftKings (+950). Houston has moved into the top spot at FanDuel, +950. The Blue Devils are the favorite at BetMGM, +1000.

Kentucky is the favorite at PointsBet (+1100) and Caesars (+1000) while North Carolina is on the top of the board at BetRivers (+1000). Be sure to check back here throughout the offseason to see if your favorite team’s odds have moved!

Best March Madness Betting Promotions

Looking for the best March Madness promos to get your money’s worth? These promotions on the odds to win the NCAA Tournament in 2022 were unbeatable.

Latest NCAA Basketball News And March Madness Odds 2023 Updates

  • In the weeks since the 2022 Tournament concluded, the odds have shifted at most of the major US sportsbooks, but there is still no consensus favorite.
  • Kansas opened as the betting favorite at a couple of books, but there is no consensus among the major US sportsbooks as to who the favorite is for the 2022-23 season.
  • Kansas set a record for the biggest comeback in title game history overcoming a 40-25 halftime deficit to beat North Carolina, 72-69.

Best Sports Betting Apps For NCAA Basketball Odds 2023

How can you find the best sports betting apps for March Madness? Who you can bet with will depend on who operates in your state and the restrictions (if any) on college betting in your state. This is where five of the best betting apps operating in the U.S. are licensed to take bets:

DraftKings: AZ, CO, CT, IA, IL, IN, LA, MI, NH, NJ, NY, PA, TN, VA, WV, and WY

BetMGM: AZ, CO, DC, IN, IA, LA, MI, MS, NV, NJ, NY, PA, TN, VA, WV and WY

Caesars: AZ, CO, IA, IL, IN, LA, MI, NJ, NV, NY, TN, VA, and WV

BetRivers: AZ, CO, CT, IA, IL, IN, LA, MI, NJ, NY, PA, VA, and WV

FanDuel:  AZ, CO, CT, IA, IL, IN, LA, MI, NJ, NY, PA, TN, VA, and WV

Those are the biggest shops, but many smaller operations contribute to providing customers with deep menus. The online marketplace for March Madness odds vary, sometimes wildly, and fluctuate regularly, putting those who have done their doubledowncasinowork in the best positions to capitalize on March Madness bracket predictions. Incentives are aplenty, too.

March Madness Bracket 2022


How To Bet On March Madness

Bettors wanting to put money down on March Madness have several options they can choose from including the following:

  • Point Spread: When you bet the point spread you are betting n the margin of victory of the game. The spread for underdogs will be listed with a (+); the number gets added to the team’s final score. If that number is higher than the other team’s score, you win your bet. When you bet on the favorite, the March Madness spreads are listed with a (-) and get subtracted from the final score.
  • Moneyline: Betting on the moneyline is betting for one team to win straight up over the other. The number listed tells you how much you stand to win if you pick the winner.
  • Total: Sportsbooks will include a number representing the projected total score. Bettors can bet on whether the actual total score will be over or under that number.
  • Parlay: Parlays are great if you want the chance to win more money. Rather than place several individual bets, you place one bet comprised of several individual bets called legs. The more legs in your parlay, the more you stand to win. However, miss one leg and you lose the bet.
  • Prop Bets: Also referred to as proposition bets, prop bets are wagers on the occurrence or non-occurrence of an event other than the outcome of the game. Some states have restrictions on prop bets for college events like March Madness.
  • Futures: Futures are bets you can make on something that will occur in the future. Betting on who will win the national championship is the most common; other examples include betting on conference winners or betting on whether a team will make the Final Four.

Types Of March Madness 2022 Bets Available All Season

Online sportsbooks will offer odds (futures) for the NCAAM and NCAAW National Championship throughout the season. But some will offer additional ways bettors can put money on March Madness. The following are the types of March Madness bets bettors can find at sportsbooks throughout the NCAA season until the final matchup is determined:

  • Outright Winner: The simplest bet has players wagering on the team that wins the Championship. And, given the current Super Bowl odds, any winning bet would pay out a huge ROI (between +500 to > +10,000).
  • To Make The Final Four: If you do not like the thought of picking the overall winner, you can pick a team to be one of the four remaining teams in the Tournament. With four chances to be right, this market may be more appealing to some bettors.
  • Winning Conference: Every conference may not have a contender, but a few conferences are bound to have a few teams with a legitimate shot at winning the national championship. The payout will be lower, but so will the risk.

It is also not unusual to see odds for the exact matchup and the exact outcome once the Tournament gets underway. This list is also not a comprehensive list. Sportsbooks will often try to get creative and offer odds on a market the competition does not. With an event like March Madness, the options are truly endless.

Odds To Win March Madness 2023 Movers And Shakers

March Madness odds are subject to change throughout the season, depending on how teams are playing and the public is betting. It is a good idea to check back periodically to see what the odds are on your favorite team, even during the offseason. With the right transfer or two, a team’s odds could see a boost. At the same time, if a player or two enter the portal, a team’s odds could go the other way.

No one’s odds have changed dramatically since the season ended, but there has been some movement. For this section, we’ll reference the odds at BetMGM, but the odds vary greatly from one sportsbook to the next.

Whose Odds Are Improving?

Houston +2000 to +1800

Arizona +2000 to +1600

Whose Odds Are Getting Longer?

Duke +800 to +1000

Even though their odds have gotten longer, the Blue Devils are still the betting favorite at BetMGM.

Arkansas +1000 to  +1200

Baylor +1400 to +1800

What Affects March Madness Predictions And Odds

In March 2000, Cincinnati was soaring with Kenyon Martin, widely regarded as the game’s best player. A No. 1 seed in the NCAAs seemed an afterthought, a third national championship trophy for the Bearcats a strong likelihood.

Instead, Martin suffered a broken leg in the Conference USA tournament in Memphis. The Bearcats were dealt a No. 2 seed, and they were beaten by coach Bill Self and Tulsa in the second round of the NCAAs.

Anyone holding a futures ticket on that Cincinnati team probably still feels the sting. That’s Exhibit A of what can affect a team’s odds, point spread, and totals.

Injuries, transfer defections, and opt-outs all affect those numbers. When Duke lost talented freshman Jalen Johnson— who left to prepare for the NBA draft—in mid-February of the 2020 season, the Blue Devils’ odds to win the whole thing varied between 60-1 and 150-1.

When it comes down to it, March Madness odds and predictions get impacted the most by how a team plays. Opening odds are set based on expectations and how people think a team will play. But teams do not always live up to their hype. At the same time, there are teams like Auburn in the 2021-22 season; preseason expectations were not high, but they have played like one of the best teams in the country.

NCAA Basketball Game Odds

College basketball odds and NCAA game lines are impacted by the same things that impact every other sport. Preseason odds are set based on how well experts believe a team will play, but those odds will shift once the season gets underway and it becomes apparent just how good a team is.

On a game-to-game basis, odds are affected by how well a team plays, how often it has been playing, whether it is a doubledowncasino or away game, and of course injuries.

For example, when the 2021-22 season got underway, expectations were low for Auburn; bets on the Tigers to win it all came with pretty high odds. But as the season has unfolded, the Tigers have proven that they are indeed a contender and their odds to win the Championship reflect that.

The same is true when it comes to individual games. For example, when they faced Alabama early on in conference play, the Crimson Tide were the favorite (-3 via Caesars). When they met a few weeks later and Alabama had a 4-5 conference record and Auburn was 9-0, the Tigers were favored (-6, via Caesars).

Restrictions On College Betting Online

The minimum age requirement is 21 in every legalized jurisdiction except Montana, New Hampshire, Rhode Island, and Washington, DC, where anyone 18 and older can make a wager. Rules vary among each jurisdiction.

Many states with legal sports betting place restrictions on college sports betting. This is to protect the players, who are often quite young. For example, states like New Jersey and Virginia place restrictions on betting on in-state college teams. Virginia does permit betting on in-state teams during March Madness, though. Many states, including Iowa and Tennessee, prohibit prop bets on March Madness and all college games. Oregon prohibits all wagering on college sports at its retail sportsbook locations.

NCAA Basketball And March Madness Odds FAQs

Is It Legal To Bet On March Madness Online?

Yes. Sports betting is legal in some form in almost two dozen states. Online sports betting is also legal in about a dozen states, including Colorado, Illinois, Indiana, Iowa, Michigan, Nevada, New Hampshire, New Jersey, Pennsylvania, Tennessee, Virginia, West Virginia, and Washington, DC.

Who Sets March Madness Betting Odds?

Bookmakers concoct their own futures, and game spreads and totals odds, then adjust those figures according to the market. If a flow of limited wagers comes in heavy on one team, expect the odds on that team to decrease and odds on other teams to increase, to attract money elsewhere, and, ultimately, to limit the book’s exposure and liability.

KenPom serves as the odds foundation for many sportsbooks, to which they themselves will admit, but they also factor their own oddsmakers’ power ratings and experiences, and an innate feel for the games and public appetite.

Where Can I Find March Madness Vegas Odds?

March Madness odds can be found on websites for many of the Vegas retail sportsbooks. Plus, online sportsbook apps that are legal in Nevada also carry odds. 

Where Can I Find The Best March Madness Picks?

Handicappers, and some of their ideas and selections, can be found on social media, and there are some very wise voices on other platforms, like the Vegas Stats and Information Network (VSiN) whose flagship voice is of the legendary broadcaster, Brent Musburger.

Although it requires many years to perfect, it is rewarding to do your own doubledowncasinowork. Excellent resources include teamrankings.com and KenPom’s excellent databases, whose annual fee of $20 is a pittance. Those can be invaluable in helping bettors form their own power ratings and edges, leading to anomalies that can sometimes be glaring when comparing what a line should be to what’s on the big board in the books.

What Are The Odds Of A Perfect Bracket For March Madness?

The NCAA pegs the odds of picking all 63 games of the NCAA Tournament correctly at 1 in 9.223 quintillion, a quintillion being one billion billion—a number requiring six commas. The debate, though, is ongoing, as a Duke professor says it’s closer to 1 in 1.4 trillion, and one at DePaul pins it at 1 in 128 billion. Hey, what’s a comma or two?

Do The Sportsbooks Offer Live, In-Game Betting For March Madness And The Final Four?

Many do, but each property’s offerings can vary. In many physical books in Vegas, adjusted in-game odds are available during the two or three minutes of commercial breaks—better wear your track shoes—and at the longer halftime breaks. Online offerings can be instantaneous, but a poor internet connection and heavy traffic can affect those transactions.

What is the best sports betting app for March Madness?

We recommend BetMGM, DraftKings, FanDuel, and Caesars Sportsbook as “best in class” options for betting on March Madness and the Final Four.  

About the Author

Travis Pulver

Writer and Contributor
Travis Pulver is a lifelong football fan, something he says comes naturally having been born in the football-crazy state of Texas. Through the years, his love of sports has extended into baseball, basketball, golf, and rugby. Life currently finds him in Indiana with his wife and two kids.

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