March Madness odds are already posted, and new odds will continue to be released in the future. These odds can all mean something different, and it’s important to know how to read them properly.
Knowing how to read March Madness odds is one of the biggest factors in terms of your success when betting on the NCAA Tournament. This article will also discuss some other tips and strategies to use in order to give you the best chance at being successful.
All of the odds and betting types discussed will be general, but the same odds will be used by all of the sportsbooks.
What Does the Moneyline Mean?
A Moneyline bet is going to be a popular betting option on the NCAA Tournament, and this can be one of the easiest betting types to understand the odds. Moneyline odds are going to be different for each team in a matchup, and those odds will explain how much money can be lost.
When looking at Moneyline odds, there are a couple of basic things to keep in mind. The first is that each team will either have a (+) or a (-) sign attached to the odds.
For teams that have a (+) sign attached to the odds, those teams would be the underdog in a certain matchup. Teams that have odds that come after a (-) would then be the betting favorites.
In order to figure out how much money can be won, it is best to think of these odds in terms of $100. Here is an example of what that might look like:
Duke Blue Devils -115
Arizona Wildcats +125
In this example above, it would take a $115 wager on Duke to win $100. Meanwhile, a $100 wager on Arizona would lead to a payout of $125.
How Do I Read Spread Odds?
Spread betting is the other top betting option when it comes to college basketball, and these odds are going to work a bit differently. You will usually see all of the betting lines set at -110, but the spread is what makes this betting option a bit differently.
If you are going to bet against the spread, then you have to know what that means. It’s best to look at a specific example and we will use the same teams from our previous example.
Let’s say the Duke Blue Devils are 4.5-point betting favorites over the Arizona Wildcats. This means that Duke would have to win this game by at least five points to make them the correct pick.
Arizona doesn’t even have to win the game for them to win this spread bet. As long as the Wildcats lose by four points or less then they would be the correct team to wager on.
How are Future Odds Different?
Future betting is extremely popular when it comes to the NCAA Tournament, and these odds work a bit differently. All of the future betting odds are going to resemble Moneyline betting, but there will be a very big difference.
If you are going to place a bet on the eventual NCAA Champion then it will be pretty easy to determine your payout. Almost always, all of the future odds that you will see are going to be positive, meaning that you will win money with this wager.
It is going to be very rare that you see a team with a (-) sign in front of their odds, as that would signal that they are a massive betting favorite. The teams with the lower number will be favored over teams that have the higher three-digit numbers listed.
Always Search For the Best Odds
One thing to keep in mind when preparing to bet on the NCAA Tournament is that each sportsbook will offer different odds. There might not be a ton of variation in the odds or betting lines, but even a tiny amount can make a big difference.
Before you ever place a bet on the NCAA Tournament, you are going to want to look around and make sure that you are getting the best possible odds. This is true for any betting type that you are looking at as favorable odds can ultimately lead to more money in your pocket.