March Madness Odds

With sports betting fully legalized and operational in Arizona, fans will be able to legally wager on March Madness for the first time in 2022. One of the pinnacle sporting events each and every year, March Madness figures to be one of the most bet upon tournaments in sports. Here’s how college basketball fans in Arizona can get in on the variety of bets that can be placed on the NCAA Tournament. 

Current March Madness Odds

At the time of writing, the favorites to win the big dance in March are the Gonzaga Bulldogs, who boast average odds (based on odds from DraftKings, BetMGM, and FanDuel) of +633. Here are the five teams with the best average odds to win it all. 

Gonzaga (+633) – With Drew Timme returning for his junior season and five-star freshman Chet Holmgren coming to town, the Bulldogs are just as loaded with talent as they were during last year’s run to the championship. 

Michigan (+1200) – Juwan Howard has quickly brought this Wolverines program back to the top of the sport, and with star center Hunter Dickinson set to return for his sophomore season, the team looks as formidable as ever. 

UCLA (+1300) – Only two players from UCLA’s Cinderella 2021 team have departed the program. Neither is named Johnny Juzang, who will continue to be the Bruins’ best player in 2022. With practically the same roster as last year, UCLA looks dangerous. 

Villanova (+1333) – Opening the year at No. 4 in the AP Poll, Jay Wright’s Wildcats welcome back star players Connor Gillespie and Jermaine Samuels for their fifth seasons. This team is stacked, and, as usual, figures to contend in 2022. 

Texas (+1367)- Unlike the other title favorites, Texas rolls in with a brand new look, including a new coach and five of the nation’s best transfer students. If this team can mesh quickly, they have as much talent as anyone in the country. 

Where Can I Bet On March Madness Online In Arizona? 

In Arizona, some of the major online sportsbooks that will offer odds on NCAA Tournament games include BetRivers, BetMGM, FanDuel, and DraftKings. Typically an online sportsbook site will offer similar odds as its competitors, though there will be some variation. Additionally, each sportsbook presents a unique bonus offer to first-time users. This can be anything from a deposit match to a risk-free bet.

  • DraftKings offers new users a 20% deposit match bonus up to $1,000. Additionally, new players can earn a free $50 bet with a deposit of $5. While getting the most out of DraftKings’ promotion would require a $5,000 deposit, the company is the industry standard when it comes to its mobile app, market depth, and variety, and competitiveness of odds.  
  • BetMGM offers its new users (exclusively those using the mobile app) a risk-free bet worth up to $1,000. A lost wager of over $50 is refunded as free bets in increments of 20% of your first wager. Otherwise, the risk-free bet is refunded as a free bet of equal value. Boasting an excellent app, deep market, and competitive odds, BetMGM is one of the best options for Arizona online sports betting and is partnered with the Arizona Cardinals. 
  • FanDuel is offering new users a risk-free bet worth up to $1,000. FanDuel Sportsbook is widely considered one of the best in the nation, boasting an exceptional, user-friendly mobile app, a wide variety of odds, and some of the easiest cash-out methods on the market. Its land-based partner in Arizona is none other than the Phoenix Suns.
  • BetRivers offers new users a 100% deposit match up to $250. BetRivers, partnered with the Arizona Rattlers, offers a user-friendly experience perfect for the desktop better. While their mobile app isn’t as highly regarded as the competition, BetRivers is widely considered to have some of the deepest markets and generous bonus offers among online sportsbooks. 

How To Place Bets Online For March Madness

In order to place a bet on March Madness online, users will need to be within the state of Arizona or another state in which their betting platform is legally operational. These can vary depending on the sportsbook used. 

Registration – In order to register with an online sportsbook, users simply need to make an account (which requires you to be 21+ years old) on whichever platform they desire. The app will use GPS to ensure you are placing bets within Arizona (or other legal states) state lines. 

Depositing Funds and Cashing Out – After registering, the new user will need to deposit funds into their account. This can be done via credit or debit cards, e-wallets such as PayPal, or via cash deposits at locations partnered with your sportsbook. Cashing out is the same, withdrawing your winnings to your bank account, debit card, or e-wallet. 

How March Madness Betting Odds Are Calculated

As expected, March Madness odds are calculated based on a given’s team chances of winning the tournament. These can change at any time leading up to the tourney and can be impacted by a variety of things such as injuries, suspensions, teams going on a hot or cold streak, coach firings or hirings in the offseason, recruitment, and more. 

An example of a March Madness bet for 2022 would be to take the Gonzaga Bulldogs at +650. Betting $100 on the Bulldogs to win the championship at +650 would see a total payout of $750. However, if Gonzaga failed to win the tournament, regardless of an injury or scandal facing the school, the bettor would lose their wager. 

March Madness Odds And Betting

Bettors will be able to place a variety of different types of wagers on March Madness games. 

Moneyline

Betting the Moneyline is an outright prediction of who you think will win the game. This is also referred to as a straight bet. 

Points Spread

Unlike a Moneyline bet, the score is all that matters with a points spread. A bettor will wager on the favored team to win by at least a certain amount of points, or the underdog team to lose by fewer than a certain amount of points. 

For example, in the Villanova vs UCLA game taking place on Nov. 12, 2021, the Bruins enter the game as favorites of -2.5. This means, placing a points spread bet on the Bruins would not only require the Bruins to win the game, but they’d need to defeat Villanova by at least 2.5 (so 3) points. Adversely, a bet on Villanova would only require the Wildcats to lose by fewer than 2.5 points in order to be considered a success, even if Villanova loses the game outright. 

Totals

Betting on the total refers to the total points scored in the game. The sportsbook will set a figure which they think will be the total score of the game, and bettors wager whether they think the combined score will be over or under that target number. This can be wagered on full games or individual halves. 

Parlay Bets

A parlay bet includes at least two or more picks and is dependent on each leg of the bet being successful in order to payout. The payout of a parlay is multiplied based on each of its parts. In terms of March Madness, the most common parlays would be on the outcome of individual games, whether it be combining various Moneylines or mixing up Moneylines, Totals, and Point Spreads. 

What Is A March Madness Futures Bet?

A futures bet is a wager on an event that will occur at some point in the distant future, I.E. predicting the winner of the NCAA Tournament. You don’t have to strictly bet on the winner, however, you can bet on how far a specific team will advance or what teams will feature in the championship or Final Four. 

Strategies For March Madness Betting

March Madness is certainly one of the most exciting events to bet on, but that doesn’t make it any less challenging. Some tips and tricks for success in March Madness include betting on teams that are sound defensively, or that have a coach with a track record of winning. Additionally, as UCLA showed us this last year, March Madness can be all about getting hot at the right time. If things start to click, a team that hits a hot streak can be as dangerous as any team in the country. 

Betting Odds For March Madness FAQ

Is it legal to bet on March Madness in the United States? 

Yes, in states that have legalized online sports betting, which include Arizona, Connecticut, Colorado, Indiana, Iowa, Michigan, New Jersey, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming.

Where can I bet on March Madness online?

Some of the most notable sportsbooks in the country include the likes of DraftKings, BetMGM, Caesars, FanDuel, BetRivers, and PointsBet. All of these sportsbooks will offer odds on March Madness on their respective platforms.

How old do I need to be to bet on March Madness?

You need to be at least 21 years old in order to bet on sports in the United States, though there are some exceptions in which those 18 years and older can place wagers. Online sportsbooks require users to be a minimum of 21 years old. 

Is it safe to bet on March Madness online?

Yes, betting on March Madness online is safe, so long as you do it through state-regulated, legal online sportsbooks. In order to identify a legal online sportsbook, users should look for the seal of approval issued by the state’s gaming regulation agency. Online gambling sites that are not approved by United States regulators are not safe, however. 

Do online sportsbooks offer live betting during March Madness?

Yes, live betting will be available during March Madness, with a wide variety of odds available as the action occurs. The specific odds and props available may vary depending upon the platform you use.

What kind of prop bets are there for March Madness?

Types of props that exist for March Madness include “team that will win X region” or “Will a No. 1 seed win the tournament?” You can also bet on things such as “How many ACC teams will advance past the first round?” or “Will a No. 16 seed beat a No. 1 seed?” The options are vast, and there’s always an exciting bet to be made. 

Can I bet on events happening off the court? 

Yes. Some sportsbooks will offer odds on various events which don’t take place within the actual game, including placing bets on things to do with the National Anthem or halftime show, or even bets related to commercials. 

Who is the current March Madness odds favorite for 2022? 

Currently, the Gonzaga Bulldogs are heavily favored to win the 2022 NCAA Tournament, with average odds of +633. Other teams in the mix for the early favorites include Michigan, Kansas, Duke, Texas, Villanova, and UCLA.

When is March Madness 2022? 

The tournament will begin in mid-March, with Selection Sunday due to occur on March 13. The Final Four will occur in early April, followed by the National Championship game. Despite that, Futures odds are already available for March Madness. 

About the Author

Karl Rasmussen

Karl Rasmussen is a freelance writer based in Portland, Oregon. He's written for various media outlets primarily focusing on sports and entertainment. Karl is a passionate fan of the New York Yankees, New York Jets, Portland Trail Blazers, Oregon Ducks, and Tottenham Hotspur.