The wait is over, March Madness is here!
Thanks to COVID-19 canceling the event last year, college basketball fans have gone without a postseason tournament since 2019.
The First Four gets underway on March 18, with the Round of 64 starting the next day.
Since the entire tournament is taking place in Indiana, the Hoosier hoops hysteria will be at an all-time high.
This is the first-ever March Madness tournament that Hoosiers will be able to place bets on. Thankfully, the state’s sportsbooks are ready for the Big Dance.
March Madness National Championship odds
Indiana didn’t have legal sports betting when the last NCAA Tournament took place.
This time around, gamblers from anywhere in the state can bet on the games.
Indiana gamblers wagered over $127 million on basketball during February alone. March Madness could take that number even higher.
The tournament attracts traveling fans from around the country, who will also be betting on games while they’re in-state.
Right now, Gonzaga is the favorite to win the National Championship.
The Bulldogs are a perfect 26-0 this season. That makes them the first team to head into the tournament undefeated since Kentucky’s 2015 team.
There hasn’t been an undefeated National Champion since the 1976 IU Hoosiers, so at least historically speaking, Gonzaga will be fighting an uphill battle.
Betting on the right team to come out on top is incredibly difficult, but there are other gambling options out there for the tournament that aren’t as hard to pin down.
March Madness player prop bets
Gamblers have a lot of choices when it comes to betting on the individual tournament games.
The go-to moneyline, point total and spread betting options are always there.
However, wagering on player props can be a fun way to mix up the typical betting experience.
Player props focus on the performance of individuals, rather than on the team as a whole.
For example, betting the over/under on how many three-pointers Cade Cunningham will make in a game.
Betting on the total number of points, rebounds and assists that Luka Garza has in a game could be another fun option.
Indiana allows these types of prop bets for college players, but that’s not the case in every state.
Sportsbooks tend to shy away from offering too many of these options, so don’t expect to be able to bet on every player’s stats for every single game of the tournament.
There’s typically only a few options out there at a time, so shop around at Indiana’s online sportsbooks for the full list of the day’s player props.
FanDuel’s March Madness Purdue odds
Feeling good about a particular team? If you are, then you’ll have plenty of options at Indiana’s sportsbooks.
One of those options is betting on how far your favorite squad will make it in the tournament.
We’ll use Purdue as an example here since they’re the only team from Indiana that managed to make the tournament this year. Here’s a look at FanDuel’s odds for the Boilermakers.
- To win National Championship: +5,000
- To make Final Four: +1,000
- To make Elite Eight: +470
- To make Sweet Sixteen: +116
Those options are out there for all of the tournament’s teams, so there’s something for everyone even if you’re not a Purdue fan.
NCAA Tournament region betting odds
Another fun category for basketball bettors is wagering on which team will win each region.
The March Madness bracket is divided into different sections that organize the teams. Each area has its own special betting odds.
Purdue is one of the favorites to come out of the South Region, but the Boilermakers will still have plenty of competition.
Right now, BetMGM likes Baylor’s chances of ending up on top.
- Baylor: +100
- Ohio State: +400
- Texas Tech: +800
- Purdue: +1,000
- North Carolina: +1,000
Of course, betting on a team to win its region is really a roundabout way of betting on them to make the Final Four.
However, seeing the odds for the competition could help you make a more informed bet. If region/Final Four betting peaks your interest, then head over to BetMGM to check out the odds for every team.
DraftKings NCAA Tournament specials
DraftKings has the widest selection of unique betting options for March Madness.
Its “Tournament Specials” let gamblers bet on things that aren’t typically on the board at other sportsbooks.
For example, you can bet on which state the National Champion will come from. Right now, Texas is the -134 favorite, with Indiana way back in the standings at +4,000.
Do you think a No. 12 seed will win a tournament game in the Round of 64? How about a No. 13 seed? What about a combination of either a No. 14, 15 or 16 seed?
All these options and more are available for betting at DraftKings.
The company has embraced the wacky side of betting, so you can even bet on whether or not a team with “Bulldogs” or “Huskies” as its mascot will reach the Final Four.
There are a ton of different options for March Madness bets out there, so feel free to explore the full list to find something that’s right for you.
