March Madness Odds

March Madness odds
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March Madness odds for the 2025 tournament are already available. Duke (+1100) and Kansas (+1200) opened as the betting favories.

March Madness odds

March Madness odds for 2025 are available below.

college basketball National Title odds

Here is how March Madness odds are changing throughout the course of the year. Opening odds for the 2025 NCAA men’s basketball National Championship that are shown below are from April 9.

TeamMarch Madness odds
Duke+1100
Kansas +1200
Alabama+1500
UConn+1500
Houston +1500
North Carolina+1500
Arizona+2000
Baylor+3000
Gonzaga+3000
Kentucky+3000
Purdue+3000
Rutgers+3000
Tennessee+3600
Texas+3600
Arkansas+4000
Auburn+4000
BYU+4000
Illinois+4000
Iowa State+4000
Creighton+4500
Marquette+4500
Miami+5000
Michigan+5000
Florida+5500
Michigan State+5500
Ohio State+5500
St. John’s+5500
Texas Tech+5500
UCLA +5500

March Madness Locations

First Four

First Four odds

Dayton, Ohio, UD Arena (March 19 – 20)

West

West Region odds

San Francisco, CA at Chase Center (March 27 and 29)

South

South Region odds

Atlanta, GA at State Farm Arena (March 28 and 30)

East

East Region odds

Newark, New Jersey at Prudential Center (March 27 and 29)

Midwest

Midwest Region odds

Indianapolis, Indiana at Lucas Oil Stadium (March 28 and 30)

Final Four

Final Four odds

San Antonio, Texas at Alamodome (April 5 and 7)

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Here is how the FanDuel website looked ahead of March Madness this past season.

How the NCAA Tournament works

March Madness is a 68-team, single-elimination tournament that annually crowns college basketball’s NCAA Division 1 men’s national champion.

The event is aptly named, considering it features a frenetic 67 games over a 19-day period. The participating schools are announced on “Selection Sunday”, along with the exact seeding and brackets.

The annual college basketball rite of spring is sports betting’s most prolific multi-day event. Below you’ll find the current betting odds for the favorites to win the NCAA Tournament, along with key tournament details and betting strategy to help you during the month-long madness.

The first 32 teams to gain entry into the tournament do so automatically by winning their conferences. The remaining 36 slots are filled by “at-large” teams. A 10-member selection committee consisting of athletic directors and conference commissioners undergoes an arduous and multi-layered process to determine the 36 at-large teams and subsequently finalize seeding and brackets.

The committee will again employ the NCAA Evaluation Tool (NET) as its primary sorting method for determining at-large entrants. The NET replaces the RPI (Rating Percentage Index), which has been utilized since 1981.

The NET takes into account the following metrics:

  • Game results
  • Strength of schedule
  • Game location
  • Scoring margin
  • Offensive and defensive efficiency
  • Quality of wins and losses

The NCAA has a detailed, step-by-step breakdown of seeding and bracket protocol on this page within its website.

March Madness betting history

The first NCAA basketball tournament took place in 1939 in Evanston, Illinois. Since then, 37 teams have won it all and five teams have won the tournament at least five times (Indiana, Duke, UNC, Kentucky, UCLA). Since seeding began in 1979, number 1 seeds have won the tournament 25 times and have accounted for almost 49% of all championship appearances. Just three times has a team seeded lower than four won the title, and no team seeded below eighth has won, nor made a championship appearance.

Since betting lines were released for NCAA tournament games in 1985, underdogs in March Madness odds have covered 44% of the time, winning outright 29% of the time. Games have gone under the total in 56% of games. Since 2010, games have gone under the total in 70% of games and favorites have covered in seven out of ten games. Three teams have won more than one championship since 2010 (Duke, UConn, Villanova), but none have won back-to-back titles (despite Butler & UNC appearing in back-to-back title games).

Since 2000, the top overall seed has made the championship game just four times but won the game three of those times (75%). In total, top overall seeds in the tournament have comprised of just 8% of the total Final Four teams (missed 13 out of 20 years). Besides 1-seeds, 2-seeds have the most championship appearances since 2000 (7 times), followed by 3-seeds (6 times), and 5- and 8-seeds (2).

Just eight percent (52/640) of all Sweet 16 teams have been seeded 11 or lower, and only 2.8% of teams in the Elite Eight were seeded 11 or lower. Four 11 seeds advanced to the Final Four (Loyola Chicago, 2018; VCU, 2011; George Mason, 2006; LSU, 1986). UMBC is the only 16-seed to upset a 1-seed in the tournament’s history (2018), and just eight 15-seeds have prevailed (5%). In 2015, two 15-seeds upset 2-seeds (25% of all such upsets) and two 14-seeds upset 3-seeds.

Using historical data when filling out brackets and betting March Madness, err caution; stats should be used in the long-run but when choosing individual games, be sure to study matchup statistics. The most important thing to remember, though, is this is March Madness, and anything can (and will) happen.

Tournament betting strategies

The historical ATS data for each team in tournament play is just one of countless data points that can constitute March Madness odds betting research. Other factors that can hold considerable relevance include:

  • A team’s late-season performances, including in their conference tournament
  • Key injuries
  • A team’s defensive proficiency, as this typically has more carryover into tournament play than a high-powered offense
  • “Fading the public” when the line appears to be significantly affected by a team’s popularity, as opposed to actual recent performance

Examining various tournament-specific historical trends, such as how high-seeded mid-majors have done in each round regarding straight-up wins and losses.

Another overarching data set that could prove highly valuable is the performance of each seed in each round versus the spread.

Where can I bet on March Madness?

Bettors physically located within the following states will be able to place a legal sports wager on March Madness games:

StateOnline Sports Betting?Retail Sports Betting?
ArizonaYesYes
ArkansasYesYes
Colorado YesYes
ConnecticutYesYes
DelawareNoYes
IllinoisYesYes
IndianaYesYes
IowaYesYes
KansasYesYes
Kentucky YesYes
LouisianaYesYes
MaineYesNo
MarylandYesYes
MassachusettsYesYes
MichiganYesYes
MississippiNoYes
MontanaNo Yes
NevadaYesYes
New HampshireYesYes
New JerseyYesYes
New MexicoNoYes
New YorkYesYes
OhioYesYes
OregonYesYes
PennsylvaniaYesYes
Rhode IslandYesYes
South DakotaNoYes
TennesseeYesNo
VermontYesNo
VirginiaYesYes
Washington, D.C.YesYes
West VirginiaYesYes
WisconsinNoYes
WyomingYesNo