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Betting For March Madness 2021: An Ultimate Guide

March Madness is one of the most awaited sporting events this year, and it’s just around the corner, with the Selection Sunday opening the NCAA Tournaments this March 14 at 6 PM ET.

A field of 68 NCAA men’s college basketball teams will rally to become the nation’s best throughout March and April. Do you know which teams to bet for?

NCAA March Madness basketball tournament

Along with the expansion of sports wagering across the United States, more states have started offering sports betting on 68-team postseason tournaments than the previous year. As you anticipate for this year’s March Madness to kick in, here’s a comprehensive guide on how legal sports betting works.

All About March Madness

March Madness is a popular annual sports event among basketball enthusiasts. The NCAA men’s college basketball tournament takes place for three weeks between March and April. While the season is ongoing, a betting action happens to account record handles for sportsbooks around the United States.

The tournament has a single-elimination format that is made up of 68 teams. These teams are announced during Selection Sunday, a separate event in itself. Selection Sunday 2021 will be televised nationally on March 14 at 6 PM EST at CBS, one of the United States’ largest broadcasting companies.

Basketball enthusiasts often make prediction attempts of the full bracket before the actual event starts. This occurrence is called “Bracketology” and is known among sports betting circles. To know more about March Madness odds, here are some tips from fanduel.com.

March Madness Bracket Explained

March Madness might be one of the most anticipated sports betting events in the United States. Its format not only caters to sports bettors but to the common masses too. The March Madness bracket is a single-elimination tournament where bettors pick winners of head-to-head matchups before actual matchups are determined.

You only have one in a quintillion chance of predicting a perfect March Madness bracket. It is that difficult to figure out. Nonetheless, sports enthusiasts are still glued to their brackets, especially during the first round, where several upsets occur.

All in all, there are 63 games to predict, from the Sweet 16 and Elite Eight weekends to Final Four and Championships. Provided in the following list are the dates for all the March Madness games played in neutral sites:

  • First Four- March 18
  • First Round- March 19-20
  • Second Round- March 21-22
  • Sweet 16- March 27-28
  • Elite Eight- March 29-30
  • Final Four- April 3
  • NCAA Championships- April 5

Types Of NCAA Tournament Bets

Deciding on which March Madness wager to bet for is important in ensuring success. Remember that your money’s on the line, so plan ahead if you want to get the upper hand. Check the following list of NCAA Tournament bets that sports bettors take part of:

  • Bracket Pool

The March Madness Bracket Pool may be the easiest tournament bet that anyone can participate in. All you need to do is team up with a group of colleagues to predict the entire NCAA Tournament outcome.

Your group can accomplish this system online or offline. Decided by the pool’s leader, the betting starts with an entry fee. The leader should gather all the entries before the first matchup starts. And, the one who has the best prediction wins the Bracket Pool.

  • Point-Spread Bet

Point-spread bet is developed to encourage bettors to back up weaker teams to receive points. This system provides balance for both competing basketball teams. The two teams are listed with a title during a game, either a favorite or an underdog. So in a point-spread bet, backing up a favorite squad means giving several points up.

  • Game Lines

Understanding the betting odds is the key when betting for March Madness. When Selection Sunday comes to an end, oddsmakers will immediately post all of the matchups’ opening lines. Sports bettors will then toggle among three different game line sections: Spread, Money Line, and First Half.

  • Money-Line Bet

A money-line bet is a form of point wagering where there occurs no point-spread. This straight-up wager system will require you to invest more to win more when betting for a large favorite.

  • Parlay

A parlay is a single-bet system that links two or more wagers together to receive a higher payout. This system can incorporate point-spread, over-under, and money lines all at once. For you to win a parlay bet, all the included wagers must have a win or tie. If any of the wagers lose, your parlay will lose, too, regardless of the game outcome.

  • Over-Under Bet

One of the most popular wagering systems during March Madness is the over-under or total, as most people refer to it. This wagering system is won by a cooperative effort between two basketball teams to go over or under the posted total points.

  • Futures Bet

When placing a futures bet wager, you’re investing your money for a much later event. The winning team will yet to be crowned in April, so if you bet on a winning wager, you will then be paid depending on the fixed odds during the first placing of bets.

Takeaway

Betting for sports events can be fun and nerve-wracking at the same time. Thus, knowing everything about the tournament will always work to your advantage. Review our guide and expect a positive return once the season ends.

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