In the United States, betting on NCAA basketball is almost a national pastime. Alumni from around the country bet on their favorite teams during the regular season, then March Madness gets everyone involved. This is also one of the most popular sports for professional handicappers to bet on, with tons of games every week, and value to be found.
How To Bet On NCAA Basketball Games
Just like the NBA, the point spread is the most popular way to bet on NCAA basketball as well. Money line bets, totals (over/under), prop bets, and futures are popular as well. For those looking to make a big score, parlay and teaser bets provide that opportunity.
During March Madness, most betting sites offer a much wider variety and volume of prop bets. Some of these are fairly standard types of bets, while others can get pretty bizarre. Props can be fun, but they don’t always provide much value.
NCAA Basketball Point Spread Betting
In a point spread bet, handicappers betting on the favorite have to give up points to the underdog. Those betting on the underdog are given points. This evens out the game and allows both sides to get in the ballpark of -110. Some betting sites offer reduced juice of -105, but -110 is most common. Typical point spread odds for an NCAA basketball game would look similar to this:
- Ohio State -5.5 (-110)
- Purdue +5.5 (-110)
In the game above, Ohio State would need to win the game by 6 points or more for bets on them to win. For Purdue, they could lose the game by 5 for bets on them to win. This is because they’ve been given 5.5. For example, if the final score was Ohio State 85, Purdue 80, you would add 5.5 to Purdue’s score. That makes the final score Ohio State 85, Purdue 85.5.
The (-110) after the point spread relates to the amount of money wagered versus the payout. For explanation, read the section below on money line bets.
NCAA Basketball Money Line Bets
Money line bets are straight-up bets on who will win the game. Instead of using a point spread, odds are adjusted to reflect the favorite and underdog. Bets on the favorite require a larger bet to earn the same profit as betting on the underdog.
Example:
- Ohio State (-210)
- Purdue (+180)
Negative (-) money lines represent the favored team, and positive (+) money lines represent the underdog. For calculating odds, both figures are based around the $100 figure. Negative money lines represent the amount of money needed to wager in order to win $100 in profit. For positive money lines, the number represents the amount that would be won from a $100 wager. So, in the example above, it would take a bet of $210 to win $100 in profit on Ohio State. For Purdue, a bet of $100 would result in a $180 profit.
NCAA Basketball Total Bets
Total (also called over/under) bets are wagers on the total combined score of both teams in a game. For example, a score of 85-80 would have a total of 165. Betting sites set a number they think will encourage 50% betting on the over, and 50% betting on the under. If you think the score they’ve predicted is too low, you would bet the over. If you think it’s too high, you’d bet the under.
At most sports betting sites, you’ll pay -110 for these bets, meaning $11 bet for $10 in profit. Some betting sites offer reduced juice of -105, or reduced juice on special days of the week.
NCAA Basketball Futures Bets
A futures bet is a wager placed on the outcome of a future event or final result. For example, in NCAA basketball, the most popular futures bet is on who will be the National Champion.
Futures bets on Big 10, Pac 10, and other league champions can be made as well.
Some betting sites end their futures bets when the season begins, while others keep them running late into the season and continually adjust the lines.
Since it takes an entire season to get paid, and because of the difficulty of winning these bets, we recommend that serious handicappers keep their NCAA basketball futures bets to a maximum of .5% of their bankroll. For those working on a fixed bankroll, you don’t want to tie up a large sum of money on a bet like this.
NCAA Basketball Prop Bets
Prop bets are wagers that involve outcomes on things that don’t fit into other betting categories. In NCAA basketball, prop bets can be made on individual players, and also on teams. Some of them are generic like ‘which team will score the first point of the game’, but they can get a bit bizarre as well.
Prop bets on big NCAA regular season games are offered at most betting sites. During March Madness, all of the online sportsbooks ramp up their prop betting options.
Some NCAA basketball prop betting examples include:
- Over/under on points scored by team X.
- Over/under on points scored by player X.
- Over/under on combined points, rebounds & assists by player X.
- Will team X make it to the Sweet 16?
- Will team X make it to the Final Four?
- Who will President Obama pick as the National Champion?
- Will President Obama pick the correct National Champion?
For successful prop betting, always compare odds and vig (juice) at several online betting sites.
NCAA Basketball Half Time Bets
Half time bets are wagers made on the results of either the first or second half of a game. Most betting sites offer first half bets, but some offer them for the second half as well. There tends to be more value in betting on underdogs in the first half than for a full game. The reason is because better teams should win their games, and the longer they play a weaker team, the more likely they are to win. It’s easier for an underdog to be ahead after the first half than it is for them to win the entire game. Since odds are generally very close for first half and full games, value can be found in these bets.
Parlay Betting on NCAA Basketball
In NCAA basketball, it’s very common to find heavy favorites. However, it takes a large amount of money to make a small win. To increase their odds, many handicappers like to parlay these games. A parlay bet is a wager where you pick multiple teams to win, and put them onto a single betting ticket. All teams on the ticket must win, or the entire bet is lost. For this reason, we recommend keeping your parlay bets down to 2-4 teams per ticket. Of course, the more teams on a ticket, the higher the odds – and risk.
Example:
- Two, $5 bets on -250 teams = $4 total profit if they both win.
- One $10 parlay with two -250 teams = $9.60 if they both win.
Of course you can go 1-1 on your individual bets, but on teams with -250 odds you would only get a $7 return ($5 wager +$2 profit on one bet), but you’re still losing $3 overall. If you feel strongly about a couple of teams that are heavy favorites, a parlay might be a better way to go.
NCAA Basketball Teaser Bets
Teaser bets are exactly the same as parlay bets, with one major exception. In a teaser bet, either 4, 4.5, or 5 points can be bought. This means that instead of getting Ohio State -5.5, you can get them at -1.5, -1, or -.5 points. Since it only takes one team loss for your bet to lose, a teaser gives handicappers a much better chance of winning their bet. Of course, with a better chance to win a teaser, the odds aren’t as good as they are on a parlay bet. Teasers are good options for people who might be considering a 4-5 team parlay but don’t want so much risk.
Betting On March Madness Online
March Madness is when NCAA basketball betting season really gets hot. People put together office pools, bet against their friends, and of course online betting action heats up as well. Every major sports betting site offers point spread, money line, and over/under betting on the Sweet 16, Elite 8, Final Four, and the National Championship. More prop bets can be found as well.
Teams with large fan bases and more national recognition tend to get a larger percentage of the betting action, often moving the lines in favor of underdogs. If you’re planning on betting the favorite, it’s usually best to place your bets early before the casual handicappers move the line. If you’re going to bet the underdog, wait until closer to game time for the lines to move in your favor. Of course, if the underdog has a much larger fan base, watch the lines and consider doing the opposite.
