March Madness Odds

After a thrilling March Madness tournament in 2022, sports fans and bettors across the country already have their sights set on the 2023 tournament. With sports betting now available in Louisiana, college basketball fans in the Pelican State can get in on the sports betting action by placing their wagers either in-person or on their mobile devices. NCAA basketball fans in Louisiana have been able to bet in-person since last fall, and the rollout of mobile betting earlier this year brings bayou bettors more flexibility when placing bets.

Current March Madness Odds

After winning the 2022 national title, the Kansas Jayhawks are one of the top teams going into the 2023 season. Oddsmakers at DraftKings list the Jayhawks at +1200 to win next year’s tournament, which is the fourth-best odds of any team. The teams ahead of Kansas are Duke (+900), North Carolina (+1100), and Kentucky (+1200).

Other teams near the top of the March Madness futures list include Arkansas (+1400), UCLA (+1600), Houston (+1600), Villanova (+1800), Gonzaga (+1800), and Arizona (+1800)

Louisiana’s premier college basketball program, the LSU Tigers, were a 6-seed in the 2022 tournament. They fell in the first round to Iowa State, 59-54. The Cyclones were the underdog in the contest, but only by four points at the closing spread. Even with the total fairly low at 129, both teams only scored a combined 113 points.

Where Can I Bet On March Madness Online?

Louisiana began accepting online sports bets earlier this year on Jan. 28. Louisiana bettors can now place bets directly from their phones in any parish that allows sports betting. In total, 55 of Louisiana’s 64 parishes approved sports betting. The nine that voted to not legalize sports betting are Caldwell, Catahoula, Franklin, Jackson, LaSalle, Sabine, Union, West Carrol, and Winn. Bettors in these parishes have to drive to other parishes to place sports bets.

Online sportsbooks currently available in Louisiana include DraftKings, BetMGM, Caesars, BetRivers, and FanDuel.

DraftKings

Visit: DraftKings Sportsbook to get $50 Free Bet w/ $5+ deposit and 20% Deposit Match up to $1,000

DraftKings offers one of the best mobile apps in the business, which features an intuitive interface, a special mobile users-only market or betting pool, and lots of regular promotions. Also included are live betting and a live stream functionality that allows you to watch sports games right on your phone or tablet screen. 

DraftKings offers odds and lines for every March Madness game, and users can make player prop and futures bets as well. 

BetMGM

Visit: BetMGM Sportsbook to claim $1,000 Risk-Free Bet. Use Code SHARP.

BetMGM is one of the leading sports betting apps in the US, and for good reason. Their market depth and sports variety make it one of the best sportsbooks in the industry. The app is now live in Louisiana, and new users can claim a pair of great bonus offers for a limited time. Visit BetMGM Sportsbook to claim $1,000 Risk-Free Bet (use code SHARP).

Caesars

Visit: Caesars Sportsbook to receive up to $1,250 in First Bet Insurance. Use code SHARPBETFULL.

Caesars Entertainment acquired William Hill, an international sportsbook operator, for $3.7 billion and announced in August 2021 its rebrand to Caesars Sportsbook. The app is now available to download across Louisiana.

Caesars has a major presence in the state, including holding naming rights at the Superdome and a partnership with LSU athletics.

BetRivers

Visit: BetRivers Louisiana to receive a 100% first deposit match up to $500. Use code SHARPRIV.

The BetRivers Louisiana app is one that helps novice bettors explore the world of sports betting without having to commit a significant amount of money. It is great for new bettors, and like every sportsbook, it has competitive odds. It also has a welcome bonus that does not require users to commit $500 or more to a single bet. So, you get the benefit of a welcome bonus without having to place a single, large wager.

FanDuel

Visit: FanDuel Sportsbook to receive a $1,000 Risk-Free Bet

FanDuel is another huge name in sports wagering. Founded as a daily fantasy sports company in 2008, it’s been in the business for as long as DraftKings and went live in Louisiana on Jan. 28. FanDuel features an excellent user interface and player-friendly betting odds. This sportsbook operator also includes market depth and variety, so you’ll be able to find lines for major American sports like football and baseball, as well as more niche betting activities like darts and NASCAR races. 

All March Madness games are available on FanDuel, as well as futures bets on who will win the National Championship.

How To Place Bets Online For March Madness

Online sports betting is now live in Louisiana, and users can download any of the sportsbooks apps and register for an account. For example, you could download the FanDuel sportsbook app and register for an account there.

Registration

When you open the FanDuel app, you will have a list of states where FanDuel offers sports betting. You’ll select Louisiana and it will take you to the registration page. On that page, you will register an email, pick a username, choose a password, and then you can create an account. 

For the next step, you will need to enter your name, address, phone number, and last four digits of your Social Security number. FanDuel needs this information to verify your eligibility to make bets. 

Depositing/Withdrawing Funds

To deposit money, click on your account funds on the bottom right of the app. That will take you to a page where you can add funds to your account. You select add funds and you can choose a variety of ways to add money to your account. Options include payment through a Visa or Mastercard, PayPal, ACH, a prepaid FanDuel card, online bank transfer, a check, and other banking apps. PayPal has no minimum deposit while the other methods require a $10 deposit. The majority of options instantly add funds to your account. Adding funds through a check will take a few days to deposit. 

To withdraw funds, stay in the account menu and select the withdraw funds option right next to the add funds button. There you can select the same methods you used to deposit. Funds will not instantly deposit into your accounts like they did when you deposited money. It will usually take 3-5 business days for the money to show up in your bank account.

Placing March Madness Bets

From there you can start placing bets on March Madness. The futures odds for next year’s champion should be listed in the middle of the front page. If they are not, simply click on the ‘All Sports’ tab on the bottom menu. You will then click on NCAAB to make March Madness bets. 

On the top bar, you can click on ‘2023 champion’ and select betting odds from a long list of schools. Once you find the bet you want, you click on the odds on the right side and a bet slip will pop up. You enter the amount you want to wager and then you place the bet. 

How March Madness Betting Odds Are Calculated

Before the season, oddsmakers look at various factors to determine betting odds. The biggest factor includes the roster the team has. If a school has a top recruiting class of freshman players, then they will have better odds to win March Madness. 

On the other side, if a school lost key contributors to the draft or graduation, they may have lower odds. If a team replaces the players they lost with top recruits or high-profile transfers, then they will open the season with higher odds as they have a high-quality roster.

In college basketball, rosters change dramatically on a year-to-year basis. Players can declare for the NBA draft after only one college basketball season. The top recruits will typically spend one year in college, so teams need to have top recruiting classes every year to stay competitive.

How March Madness Odds Are Made

The March Madness title odds fluctuate throughout the season. The odds can be changed based on a team’s performance, as a team may overperform or underperform their expectations. Top recruits that oddsmakers expected to make a difference may not transition well to the collegiate level. If those players do not perform well and the team starts to lose, then their odds will drop.

March Madness odds can change depending on other factors as well, such as transfers, injuries, matchups, and coaching changes.

When placing a bet on the winner of March Madness, the bet will only cash if that team wins the National Championship. The bet carries more risk as anything can happen over the course of five to six months, but the bets carry higher odds because of that. 

March Madness Odds And Betting

When betting on the winner of March Madness, users can bet the moneyline on who they think will win it all. If your chosen team wins, then the bet cashes, but if they do not, the bet loses. You can also place parlay bets on teams that will make the Final Four or teams that will win their conference. All bets in the parlay will need to win for it to cash.

During March Madness, users can make bets on each individual game. This would include the total for the game, the spread for each team, and the moneyline for who you think will win. 

Last season in the 2021-22 March Madness Championship game, Kansas opened as four-point favorites. The total also came in at 152. Kansas beat North Carolina for the championship by a score of 72-69. This meant that Baylor covered the four-point spread, but Kansas moneyline was victorious at -160. Both teams combined for 141 points, meaning that the under cashed.

What Is A March Madness Futures Bet?

A March Madness futures bet happens when you bet on something that will happen in the future. Most notably, you can predict who you think will win March Madness or appear in the Final Four. Betting months in advance adds a lot more unpredictability, but the odds give higher payouts because of that. As March Madness approaches, future odds will decrease as the outcome becomes more predictable. You can place future bets any time before the deciding game.

What Is A March Madness Prop Bet?

A March Madness prop bet features bets made inside of a game. Instead of betting on the outcome of a game, you can place bets on how players will perform. You can bet on if a player will have over or under a certain number of points, rebounds, assists, blocks, steals, shots made, or a combination of those.

Oddsmakers typically set the totals for the prop bets based on a player’s averages throughout the season. If a player averages 24 points a game, oddsmakers may set his or her total for a game at a number around 23.5 or 24.5.

Strategies For March Madness Betting

When betting on March Madness, it helps to look at how teams played during the regular season. You should look at games versus ranked opponents to see how teams play against tougher competition. Anything can happen in a single-elimination tournament, but battle-tested teams have an advantage going into March Madness.

In basketball, one player can make a major difference. Well-rounded team triumphs over all, but teams with a major scoring threat can make waves in March Madness.

In today’s game, three-point shooting plays a major factor. Teams with a high three-point shooting percentage can score a lot of points and make a deep run into March Madness as well,

Betting Odds for March Madness FAQs

Is betting on March Madness legal in the US?

Yes, people in the US can bet on March Madness. They can place bets at sportsbooks or through mobile betting apps in legalized states. People can also fill out March Madness brackets for office pools that require a buy-in.

Where can I bet on March Madness online?

In states with legalized sports betting, people can use sportsbooks like DraftKings, FanDuel, and Caesars to place bets.

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

You must be 21 years of age to bet on March Madness in Louisiana.

Is it safe to place a March Madness bet online?

It is safe to place March Madness bets on online sportsbooks that have a sports betting license from the Louisiana Gaming Control Board. DraftKings, FanDuel, Caesars, and Betfred all have licenses in Louisiana.

Do online sportsbooks offer live betting during March Madness?

Yes. Online sportsbooks let you bet on ongoing March Madness games.

What kind of prop bets are there for March Madness?

Users can make prop bets based on the number of points, rebounds, assists, steals, blocks, and made shots a player will make in a game. Various sportsbooks offer differing odds for these prop bets.

About the Author

Connor Grootenhuis

Connor Grootenhuis is a Content Manager and sportswriter covering all things sports betting. Based in the Bayou State of Louisiana, he is a lifelong sports fan and a believer that every loss is a bad beat and every win is easy money.