Legal March Madness Betting

Legal March Madness Deposit Methods

Before you can actually get started with betting on March Madness, you’ll need to choose one of the many sportsbook deposit methods available. These deposit options range from everyday methods such as big named credit and debit card brands to several different cryptocurrencies. The legal betting sites that take all wagers on March Madness recommend using Bitcoin, as there are no fees with this method for any transactions that occur in the US.

• Credit/Debit (VISA, MasterCard, Discover, AMEX)
• Cryptocurrency (Bitcoin, Ethereum, Litecoin, Etc.)
• MatchPay
• Voucher
• Wire Transfer
• ECheck

Legal March Madness Payouts

Getting paid out from an online sportsbook after cashing your March Madness ticket is another step that you need to familiarize yourself with. While there are many online sports betting withdrawal methods up for grabs, some options are better than others. The sportsbooks taking March Madness bets from all US players do not always offer payouts back onto your debit card. Cryptocurrency, P2P apps, and bank transfers are the most commonly used withdrawal methods at March Madness sportsbooks.

• Cryptocurrency
• Check by courier
• Wire Transfer
• Money Order
• Voucher
• MatchPay

Requesting A withdrawal From A Legal March Madness Betting Site

Payouts are the first thing you think of after cashing a March Madness betting ticket and the main thing that you should know how to do is request a payout. Requesting a payout is not hard at all as there are just four steps for you to follow to get it done. The entire process can be found right here.

• Click the “payouts” tab on your betting account
• Choose the withdrawal option that you want to use
• Insert the dollar amount of how much you want withdrawn
• Confirm you are requesting a withdrawal from your account

Betting On March Madness With Cryptocurrency

While there are plenty of financial options when it comes to depositing or withdrawing into your March Madness betting accounts, none of them compare to cryptocurrency. Crypto has been one of the most beneficial and convenient forms of betting on March Madness for several years and it isn’t hard to see why. First off, there are no extra fees linked to your transactions, quick processing times that are usually faster than other methods, and well over 10 to choose from depending on which site you look to bet with.

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• Tether (USDT)
• Binance Coin (BNB)
• Bitcoin SV (sv)
• Ripple (XRP)
• Cardano (ADA)
• Chainlink (LINK)

Legal March Madness Wager Types

Before you overwhelm yourself and worry just about brackets, you should also understand legal March Madness betting. The single-elimination tournament is known for the Cinderella story of a team who went further than anticipated, the top dog who gets booted too early, and the streaking team who can’t seem to lose. Just ask participants of legal Florida sports betting, after Miami and FAU snuck into the Final Four in 2023. All of these can be gambled upon – it is just a matter of which style of betting you will participate in.

• Point Spreads – Every game has a spread, which is the expected result for the difference in points at the end of the game. The favorite will have a minus symbol (-), which is their projected winning margin. The underdog will have a plus symbol (+), which is their expected losing margin. A successful bet happens by picking the winner after the final score is adjusted by the spread. If the game ended exactly as anticipated, this would be considered a “push”. In that case, all bets would be void and your wager would be returned.
• Moneyline – The most straightforward way to wager would be to bet on the moneyline. Moneyline betting is simple as no spreads occur – you are only picking the winner of the game outright. Like spread bets, the team with the negative is the favorite and vice versa. The odds indicate the payout. For example, online sportsbooks show -150 for Gonzaga and +125 for Ohio State. Wagering on Gonzaga would need a bet of $150 to win $100 in profit, while those taking the underdog odds could profit $125 on a $100 wager.
• Total Points – Many times for basketball, the spreads can be difficult to determine because of last-second points. Likewise, game-winning shots can change the result in the last second. The speed of the game is another option you have when looking to legally bet on the NCAA Tournament by betting on the total points scored. Some basketball teams like to slow the pace and play every possession to the extent of the shot clock while others like to get a shot off as quick as possible. These styles of play make it easier to win money betting and determine trends in total points scored.
• Player Props – Player props are odds on specific players in the game. You have several options to choose from when betting on player props as well. That includes player point totals, odds on which player is going to score the first basket, total rebounds, total assists, player futures for the tournament MVP, and much more.
• Team Props – Similar to player props, team props lets you bet on one specific team from many different angles. You can bet on different teams point totals, their first and second-half odds, alternate betting lines on the spread and point total, in addition to plenty of others. The great thing about team props, specifically team total points is that you can use those to gauge the total points in the game as well.
• Futures – Futures betting is one of the more popular bets that you can make as it is betting on the outcome of the tournament itself. You can bet on futures odds a full year in advance as the odds for March Madness open right when the prior tournament finishes. Futures odds also extend to betting on the different region outcomes, tournament MVP, team to score the most points, and much more.

How To Signup For A March Madness Betting Site?

One of the simplest things you can do on a March Madness online betting site is the actual registration process. It is so simple that you can do it the day that the tournament starts and have your funds deposited into your account just as fast. Just input some of your personal information to get your account going and you’ll have access to bet on all of their odds.

• Full Name
• Date of Birth
• Contact Information
• Zip Code
• Create Password

March Madness Betting Trends

#1 Seed Betting Trends

Itching to capitalize on a possible upset from the #16 seed? The odds may be high but the probability is extremely low. Throughout the entire history of March Madness, only one time has a number one seed lost in the first round (2018 when the Virginia Cavaliers lost to the UMBC Retrievers). All stats below are taken from when 16 seeds were added to the tournament in 1985.

• #1 seeds are 147-1 against the 16 seed since they were added in 1985.
• #1 seeds won two games 86% of the time, exiting the first weekend 2-0.
• Only eight times have two #1 seeds have met in the Championship Game.
• None of the #1 seeds made the Final Four in either 2006 or 2011.
• Public data shows brackets average 1.8 #1 seeds in their Final Four.

#2 Seed Betting Trends

• #2 seeds in the weakest #1 seed’s quadrant make the Final Four more often than the #1 seed.
• The public averages one #2 seed in the Elite 8 every season and 0.5 #2s in the Final Four.

The 8 Vs. 9 Matchup

The eight and nine seeds are practically split over the last 30+ years of the NCAA Men’s Basketball Tournament. However, it is the next round where the data gets interesting. If winning the first round, 8 seeds have a 9.7% win rate to get to the Sweet 16. As for the 9s, they have a 4.9% win rate.

• 9 seeds hold a slight advantage over 8 seeds, winning 50.7% of games since 1985.
• One 8 seed has won the Tournament while five teams ranked eighth have made the Final Four.
• Only one nine seed has made it to the Final Four, who ended up losing in the Championship.

How Many Upsets Happen Each March Madness?

If you are looking to capitalize on some longshot upsets during March Madness, it’s good to look at the tournament’s upset averages. When it comes to betting on the bracket, keep in mind that an annual average of 12.7 upsets happen each year during the NCAA Men’s Basketball Tournament. The fewest upsets that occurred in March Madness was four in 2007 and the most being 19 in 2014.

Upsets Per Round In The Men’s Basketball Tournament

Betting On The Cinderella Team

A team ranked #7 to #11 is the best place to find a Cinderella team. In fact, in every year but two since 2011, the Final Fours have seen a #7-#11 seed make it.

• 11 seeds are almost even against six seeds over the last decade.
• #12s can dominate early on, but are 1-20 overall in the Sweet 16.

First Round Upset History

Second Round Upset History

Final Four Betting Trends

Look to make number 11 the mindset going into making a bracket or betting on March Madness. In the last few decades, the sum of the seeds in the Final Four has averaged 11 but the possibilities and combination of teams can be mind-boggling. Many look at KenPom rankings – which are a great indicator. However, if betting once the tournament has begun, look for teams that are doing well against the spread in the tournament.

General NCAA Tournament Betting Trends

• 1 Seeds have gone 22-12 in the National Championship game.
• Seeds 4, 6, 7 and 8 all have one National Championship.
• 5 seeds have made the National Championship three times and lost all three.
• 15 seeds have only made the Sweet 16 one time.
• 5 seeds have gone 7-2 in the Elite 8
• Seeds 13-16 have never made the Elite 8.
• 11 Seeds have gone 0-4 in the Final Four.
• There are over 65,000 ways to fill out a bracket.
• Teams that make their first National Championship often find themselves losing.
• The Eastern time zone has claimed well over 90% of the last two decade’s championships.

The Effects Of Travel During The NCAA Tournament

An interesting thing sports bettors should note when looking to bet the over during the NCAA Men’s Basketball Tournament is how well teams fare when playing close to home. Teams that play closer to home end to play better offensively. Both underdog and the favorites that play closer to home are more likely to cover the spread according to MyBookie.