March Madness Odds 2023: NCAA Tournament Betting Odds

Posted by James Guill . Last updated: March. 25. 2024

2022 NCAA Tournament Bracket

The 2023 March Madness National Championship will start with a field of 68 teams competing for the NCAA title. Last year, Kansas defeated fellow blue-blood North Carolina in the NCAA Championship.

Our 2023 March Madness guide features the latest futures odds to win the NCAA men’s basketball tournament. We also give a schedule of events, while celebrating the tournament’s greatest moments.

Odds to Win the 2023 NCAA Basketball Tournament

The Houston Cougars, led by top scorers Marcus Sasser and Jarace Walker, are the moneyline favorites with +775 futures odds at present. Purdue Boilermakers, who are led by 7’4″ Zach Edey, are installed as the second favorite at +900.

Alabama rounds out the top three with +1000 odds. The Crimson Tide’s chances hinge largely on top scorer Brandon Miller, though Mark Sears and Noah Clowney are key contributors. Those who want to bet on the defending champion should take a look at the Kansas Jayhawks, who are next with +1100 odds.

We will update our odds once all 68 teams are known. Once we know the two teams in the NCAA Title Game, we’ll update the moneyline odds and post the Over-Under.

Team	Men’s NCAA Basketball Championship Odds
Houston	+775
Purdue	+900
Alabama	+1000
Kansas	+1100
Tennessee	+1200
Arizona	+1400
UCLA	+1400
Virginia	+2500
Texas	+2500
Connecticut	+2500
Gonzaga	+2800
Baylor	+2800
Xavier	+2800
Creighton	+3300
TCU	+3300
North Carolina	+3500
Marquette	+3500
Kentucky	+4000
Iowa State	+4000
Kansas State	+4000
Indiana	+5000
St. Mary’s CA	+5000
Arkansas	+6000
Duke	+6600
Ohio State	+6600
Rutgers	+6600
Illinois	+7500
Miami Fl.	+8000
Auburn	+9000
Clemson	+9000

Types of March Madness Bets

Contrary to what some may believe, filling out a March Madness bracket is just one way to wager on the 2023 NCAA Tournament. Similar to filling out bracket after bracket, you could place a futures bet, which is essentially the same thing as predicting the winner on a digital piece of paper. Here are some more NCAA tournament bet types.

Moneylines & Spreads

Just like during the regular season, each NCAA Tournament matchup will feature point spread and moneyline odds. Spread betting means a team needs to beat their opponent by a certain number of points OR the underdog needs to lose by a certain number of points OR win the game outright in an upset, Cinderella special.

Parlays

If you think you have what it takes to predict the outcome of multiple games the first Thursday and Friday of the tournament, be sure to review parlay betting. This means you’ll wager on the outcome of multiple games on the same bet slip. However, unlike in moneyline and point spread wagers where all you need is one win for the ticket to cash, EVERY wager on a parlay ticket must be correct. If one bet loses on a parlay bet, the entire ticket is shredded.

Over-Under Point Totals

If you don’t have a good feeling on which team is going to win a March Madness matchup, point total betting, otherwise referred to as the over/under, may be for you. All you’re doing is betting if the total point scored between the two teams will be OVER or UNDER a set total determined by the online sportsbook oddsmakers.

Live Betting Opportunity

Let’s say your pick to win the 2023 NCAA Tournament falls in the second round and your bracket is toast. The betting opportunities are not over. Take a look at live betting on different games the rest of the way. Most online sportsbooks offer in-game betting, also known as live betting, to keep things interesting every second of every game.

Where to Bet On March Madness Odds 2023

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2023 March Madness Schedule

Following the completion of all the men’s basketball conference tournaments, which themselves enjoy quite a bit of college basketball betting, the NCAA will announce which 68 teams have punched their ticket to the “Big Dance” and will compete in March Madness 2023 on Selection Sunday, March 12. Two days later, at the University of Dayton’s home arena, the First Four will tip off as the last eight teams in the fight for the right to enter the field of 64 and the main NCAA tournament bracket.

With all due respect to The Masters golf tournament, the first Thursday and Friday of March Madness are a tradition unlike any other. Men look to schedule vasectomies in the days leading up to the tournament, while many fans take a well-deserved personal day to pony up to the bar and watch 12 hours of hoops uninterrupted. It’s all quite beautiful.

The Sweet 16 and Elite Eight matchups will be hosted by Las Vegas, New York City, Kansas City, and Louisville..

We then survive and advance to Houston, Texas, and NRG Stadium, home to the Houston Texans and the 2023 Final Four. A national semifinal will take place on April 1, 2023, while the men’s national championship game is slated for Monday, April 3, 2023, where one team will earn their one shining moment and opportunity to cut down the nets.

ROUND	DATE	LOCATION	VENUE
Selection Sunday	March 12	National TV	CBS/TNT
First Four	March 14-15	Dayton, OH	UD Arena
1st/2nd Rounds	March 16 & 18	Birmingham, AL	Legacy Arena
1st/2nd Rounds	March 16 & 18	Des Moines, IA	Wells Fargo Arena
1st/2nd Rounds	March 16 & 18	Orlando, FL	Amway Center
1st/2nd Rounds	March 16 & 18	Sacramento, CA	Golden Center 1
1st/2nd Rounds	March 17 & 19	Albany, NY	MVP Arena
1st/2nd Rounds	March 17 & 19	Columbus, OH	Nationwide Arena
1st/2nd Rounds	March 17 & 19	Greensboro, NC	Greensboro Coliseum
1st/2nd Rounds	March 17 & 19	Denver, CO	Ball Arena
East Regional	March 23 & 25	New York City, NY	Madison Square Garden
West Regional	March 23 & 25	Las Vegas, NV	T-Mobile Arena
South Regional	March 24 & 26	Louisville, KY	KFC Yum! Arena
Midwest Regional	March 24 & 26	Kansas City, MO	T-Mobile Center
Final Four	April 1 & 3	Houston, TX	NRG Stadium

Lowest Seeds to Reach Final Four

The “Cinderella Stories” of March Madness are those lower seeded squads that continue to prove the slipper still fits round after round. The lowest seeds to ever reach the Final Four have all been 11’s. As premiere talent from perennial collegiate power programs make the jump to the NBA after just one season, these underdogs are making more noise during the NCAA Tournament.

March Madness Odds Lowest Final Four seeds LSU Tigers

1986 - No. 11 LSU Tigers

Dale Brown’s LSU Tigers are the only No. 11 seed in NCAA tournament history to beat a No. 1, No. 2 and No. 3 seed from the same region. They fell to No. 2 seed Louisville in the semifinals, 88-77.

March Madness Odds Lowest Final Four Seeds George Mason

2006 - No. 11 George Mason Patriots

The Colonial Athletic Association’s regular season champions lost to Hofstra in the conference tournament semifinals, but managed to knock off Michigan State, North Carolina and Connecticut on their way to the Final Four before losing by 15 to No. 3 seed Florida.

March Madness Odds Lowest Final Four Seeds VCU Rams

2011 - No. 11 VCU Rams

The meteoric rise of Shaka Smart’s coaching career began during the 2011 NCAA Tournament when his VCU Rams smashed Georgetown and Purdue by 18 and No. 2 seed Kansas by 10. Those pesky Butler Bulldogs knocked ‘em out in the Final Four, 70-62.

March Madness Final Four Lowest Seeds Loyola Chicago Sister Jean

2018 - No. 11 Loyola-Chicago

Led by superfan Sister Jean, Loyola-Chicago was the feel-good story of the 2018 NCAA Tournament when those Ramblers won their first three games by a combined four points. Their “Cinderella Story” came to an end at the hands of Michigan who beat them by 12 in San Antonio.

2021 - No. 11 UCLA Bruins

The 2020-21 UCLA Bruins became the first First Four program to reach the Final Four in tournament history. Led by Johnny Juzang, the Bruins No. 2 seed Alabama and No. 1 seed Michigan before falling to Gonzaga on a 3-pointer at the buzzer.

Most NCAA Basketball National Championships

One of John Wooden’s most famous quotes is “don’t mistake activity for achievement.” The UCLA Bruins Hall of Fame head coach would know what it meant to achieve. During his 27 seasons at UCLA, Wooden’s teams won the NCAA Men’s Basketball Tournament a record 10 times. The Bruins would win one more in 1995 as freshman phenom Toby Bailey helped raise an 11th basketball banner at Pauley Pavilion.

Adolph Rupp coached the Kentucky Wildcats from 1930-1972 and helped Big Blue Nation win four national titles in 1948, 1949, 1951, and 1958. Despite strong recruiting classes for the better part of this century, UK has won only one national championship since 1999. The 2012 Wildcats, led by Anthony Davis (though not in that game), cut down the nets after beating the Kansas Jayhawks, 67-59.

Roy Williams retired at the end of the 2020-21 college basketball season, but not before bringing three championships back to Chapel Hill. North Carolina basketball thrived during his 18 seasons and won it all in 2005, 2009, and 2017.

UCLA

Titles

Final 4 19
Elite 8 23
Sweet 16 35

Kentucky

Titles

Final 4 17
Elite 8 38
Sweet 16 45

North Carolina

Titles

Final 4 20
Elite 8 28
Sweet 16 34

2023 March Madness Betting Tips

For college basketball betting sharks and the casual fan alike, filling out a March Madness bracket is one of life’s great pleasures. However, betting on individual NCAA tournament games and/or team futures odds to win the college basketball tournament can be just as enjoyable. Here are betting tips when filling out your NCAA tournament bracket and submitting bet slips.

Advance the No. 1 seeds

Up until the UMBC Retrievers shocked the world with their upset of Virginia during the 2018 March Madness tournament, No. 1 seeds had won EVERY other No. 1 vs No. 16 matchup. Of the four No. 1 teams seeded annually, the top No. 1 seed has won 23 National Championships since 1985.

Pick at least one No. 12 seed

After No. 12 seed Oregon State upset No. 5 seed Tennessee in last spring’s tournament, No. 12 seeds have upset their first round opponents 51 times in 144 games, better than 35% of the time.

Fade the Favorite

While the talk of parity in NFL is common, it’s become more of a tangible theory in college basketball over recent years. As more players embrace the “one season and done” mentality and/or skip college altogether, the lower-tiered programs – who keep their athletes through their senior season – have closed the gap on what it takes to cut down the nets. In this spirit, it’s probably wise to not to lock in on a No. 1 seed to win it all. Plus, you have to assume most of your bracket competition will also be leaning towards a higher seed to take home the natty. By embracing a lower seed and fading the favorite, you’re setting yourself up for a greater windfall with less risk incurred.

Study player stat props

For some, college basketball betting the moneyline, point spread or point total is boring. Come NCAA Tournament time, no-name collegiate athletes become household names for three weeks in March and early-April. If somebody is starting to catch fire, perhaps college basketball player props during the tournament are more your speed. You can bet on if a player scores Over/Under a certain amount of points, over/under X-number of rebounds or, on some sites, wager on a head-to-head matchup where Player A outscores Player B.

Greatest Moments in March Madness History

It’s nearly impossible to pair down all the great March Madness memories into one top five list, but here are Gamble Online’s top shining moments.

Texas Western Basketball Championship 1966

Texas Western Wins Title

The inspiration behind the book and movie “Glory Road,” the 1965-66 Texas Western Miners basketball team became the first team with an all-black starting lineup to win the NCAA Tournament and they did it by beating the all-white Kentucky Wildcats. Head coach Don Haskins’ team finished 28-1 that season and beat their opponents by an average of more than 15 points.

Jimmy V North Carolina State Championship

Jimmy V's North Carolina State Win

One of the most iconic March Madness memories is that of North Carolina State head coach Jim Valvano running on the court, looking for somebody to hug after Lorenzo Charles won the game on a buzzer beating dunk to lift the Wolfpack over Houston, 54-52.

Christian Laettner buzzer beat Kentucky March Madness

Christian Laettner Buzzer Beater

Nothing embodies the madness of March more than Grant Hill’s 3/4-court inbounds pass to Christian Laettner and the All-American’s one dribble right and turnaround dagger through the basket and right into the heart of Kentucky at the buzzer.

No. 16 UMBC Upsets No. 1 Virginia

The greatest NCAA tournament underdog to win just so happened to be a Retriever. The No. 16-seed UMBC basketball program upset No. 1 Virginia 74-54 during the first round of the 2018 tournament. UMBC shot 54% from the floor and 50% from beyond the arc in their 20-point blowout victory.

Villanova Kris Jenkins Buzzer Beat National Championship

Kris Jenkins Buzzer Beater

Tied at 74 with 4.7 seconds remaining, Villanova pushed the ball down the court and got it into the hands of Kris Jenkins who connected on a 24-foot, game-winning three-pointer at the buzzer to lift the Wildcats over North Carolina, 77-74.

2023 Women's NCAA Tournament Winner Odds

If you want to bet on the NCAA women’s March Madness tournament futures, here are the current odds at BetOnline Sports. The South Carolina Gamecocks are the favorite to win the WNCAA tournament.

Team	Women’s NCAA Basketball Championship Odds
South Carolina	+120
Stanford	+350
Connecticut	+750
LSU	+900
Indiana	+1400
Ohio State	+1600
Notre Dame	+2000
Iowa	+3300
Iowa State	+3300
Texas	+4000
Virginia Tech	+4000
Utah	+4000
North Carolina	+5000
N.C. State	+6600
Maryland	+7500
Baylor	+7500
Tennessee	+10000
Louisville	+10000
Oklahoma	+10000
Arizona	+10000
Michigan	+10000

March Madness Odds 2023 FAQs

The college basketball betting favorites to win March Madness 2023 - and only programs with odds 10-to-1-or-better - are the Gonzaga, North Carolina and Kentucky.

Organizing a March Madness betting pool has become a beloved annual tradition, both for families and offices alike. According to data compiled by the American Gaming Association (AGA), over 24 million people filled out more than 70 million brackets ahead of last year’s NCAA Tournament. Of course, that hardly means more than one-fifth of the nation committed a criminal act – not in the slightest. Joseph M. Kelly, a professor of business law at Buffalo State College, offered the following advice via Law360 in March of 2016: “I would say that the chance of prosecution would be the same as being struck by lightning. If it is just an office pool, where the winner takes all, in theory, you are violating the law in about half the states, but in practice, you are not going to be prosecuted. I just can’t imagine a prosecutor taking time to go after a casual player.” To learn more about the law across the states, see our guide to legal online gambling in the USA.

Gamble Online's team of experts have reviewed these as the best online sportsbooks to place a 2022 March Madness wager this season. Be sure to review them yourself for the best possible welcome bonuses and promotions.

According to the AGA, the 2018 March Madness generated over $10 billion in total wagers nationwide.That figure covers everything from casual office pools to targeted one-game wagers through an online sportsbook. This represents 6.6 percent of the combined sum Americans bet on sports every year. What are the odds of picking a perfect March Madness bracket sheet? Since 2014, billionaire investment guru Warren Buffet has issued a challenge that seems too good to be true. Anybody who can predict all 63 games in the NCAA Tournament will receive $1 million every year for the rest of their life. That challenge remains unfulfilled through five years and counting though. Thanks in large part to the astronomical odds against nailing a spotless bracket. Picking all 63 games requires perfect accuracy on a one-on-one matchup 63 times over, or 2^63 in math geek lingo. All told, that equation equates to odds of 1 in over 9.2 quintillions. Making a perfect bracket exactly one trillion times less likely than getting struck by lightning twice in a lifetime. Jonathan Mattingly – a professor of mathematics at Duke University – developed a formula based on the overwhelming likelihood of the No. 1 seeds defeating their No. 16-seed opening round opponents. But even when these long-shots are factored in, along with other superior seeds facing underdogs, Mattingly calculated improved odds of 1 in 2.4 trillion. And if a Blue Devil’s digits aren’t up to snuff in your book, DePaul University mathematician Jay Bergen calculated the odds at one in 128 billion. But whomever you consider gospel when betting NCAA basketball, backing one side with a single bet through your favorite online sportsbook is the best way to beat the odds.

So, you're telling me there's a chance? The odds are filling out a perfect NCAA tournament bracket are astronomical at: 1 in 9,223,372,036,854,775,808. Welcome to shredded bracket season.