March Madness Betting: How To Bet Online

min read
UConn's Tristen Newton tries to get past Marquette's David Joplin during the second half of an NCAA college basketball game Wednesday, March 6, 2024, in Milwaukee. UConn won 74-67.
(AP Photo/Morry Gash)
Richard Janvrin @richardjanvrin Mar 28, 2024, 1:05 PM
  • The UConn Huskies are favoured to win the NCAA Tournament at +400.
  • There are numerous ways to bet on March Madness, including moneyline, point spread, totals, props, parlays, futures, and more.
  • You can wager on March Madness at BetMGM Ontario.

The 2024 NCAA Tournament, also known as March Madness, started on Tuesday, March 19, with the First Four. The Round of 64 begins on Thursday, March 21. 

With so many contests coming up over the next few weeks, you may be wondering how to bet online while the games take place.

In addition to understanding basketball lines, below, you’ll learn how to bet on March Madness online, who the favourites are, where you can bet, and more.

How To Bet on March Madness Online

There are numerous ways to bet on March Madness college basketball odds. The typical markets include the moneyline, point spread, totals, props, parlays, futures, and more. 

Here’s a rundown of what each betting market is: 

  • Moneyline: Picking which team you think will win regardless of the spread. 
  • Point Spread: The point spread is the margin, set by the oddsmakers, that one team is favoured over the other.
    • For example: A spread between Saint Peter’s and Tennessee is -21.5. To cash your Volunteers’ ticket, they must win by 22 points or more. To cash a Peacocks’ ticket, they can lose by fewer than 21 points, including winning outright.
  • Totals: Wager on the combined number of points scored. 
  • Props: A popular example is player props, where you’ll wager on individual player performances, such as how many 3-pointers or rebounds a particular player will get. 
  • Parlays: Group together multiple games on one ticket. All wagers on a parlay betting slip must succeed in getting a winning ticket. 
  • Futures: Wager on who you think will be the eventual winner of the tournament, each region, who will make it to key rounds, and more. 

Who Is the Most Favored to Win March Madness?

Here at BetMGM Ontario, the top five teams, odds-wise, to win March Madness are Connecticut (+400), Houston (+600), Purdue (+650), Arizona (+110), and North Carolina (+1300). 

Connecticut, also known as UConn, won the Big East Tournament, while Houston and Purdue lost in their tournaments. Houston lost in the championship to Iowa State, while Purdue lost in the semifinals in overtime to Wisconsin. 

Arizona also lost in the semifinals of its conference tournament, losing to the eventual champion Oregon Ducks, 67-59. 

Finally, the Tar Heels were favourites in the ACC Tournament but lost to the dark horse North Carolina State Wolfpack, a No. 10 seed, in the conference championship 84-76. 

Can You Bet on March Madness Games?

Yes. You can wager on March Madness games. Check your area to see if online sports betting is legal. 

Where Can I Bet on March Madness Online?

You can bet on March Madness right now at BetMGM. BetMGM is available in numerous states throughout the United States and offers March Madness betting markets in Ontario.