March Madness Online Betting
Posted by: Hilbert Mayer
March Madness online betting is finally here after a long wait since 2019. It is estimated to be the hugest March Madness tournament of all time. The college basketball tournament is going to hit off from 19th March, and a total of 16 games are to be played. March Madness selections are supposed to happen on 15th March, the Sunday before the match hit off. This long-waited for NCAA tournament in 2019 had estimated over 47 million sports bets by Americans. The American Gaming Association (AGA) approximated the wagers to be over 8 billion US Dollars.
Standard Line-Up for the March Madness
There is a total of 68 teams that usually qualify for the March Madness out of possible 353. 32 of the 68 teams receive automatic bidding. They are required to hold a tournament to find out who will get the automatic bidding. The remaining 36 slots are given randomly. There is a selection committee for this purpose. The selection Sunday just before the tournament is set aside. An advertisement is made, which allows fans to choose their favorites. The committee also determines the placement of teams throughout the tournament period. This tournament is meant to mark the end of the season that begins in November. Then, determine the winner of the season.
States in the US That Legally Support March Madness Online Betting
There is a lot of illegal betting in events such as March Madness. It would help, however, if you did it legally to avoid any mishaps. Unfortunately, not all states in the US that allow legal March Madness betting. The ones who support this either are retail and online or retail only. For retail and online, they include Indiana, Iowa, West Virginia, Nevada, Pennsylvania, Rhode Island, New Jersey, and Oregon. Arkansas, Delaware, Mississippi, New Mexico, and New York allowed Retail betting. Some states will soon embrace the legal betting of the NCAA tournament. They include Illinois, North Carolina, Tennessee, Michigan, Colorado, New Hampshire, and Montana. It is advisable to note this while getting into March Madness betting.
For the upcoming event, only Pennsylvania, New Jersey, Indiana, and West Virginia will support online betting.
The NCAA allows for the following online sportsbooks for bets in the above states:
These are beside the standard state online betting market in the four states. You only need to create an account, username, and password to start on March Madness betting. Due to the rise in states that adopt to the sports betting, the income to be generated will be higher than ever before. This is according to estimation by the AGA while considering both legal and illegal betting. Illegal wagers are expected to make the hugest percentage.
Significant Dates to Keep in Mind
Below are some of the dates and locations you need to have an idea on in March Madness betting 2020:
Bets to Lookout for on March Madness Online Betting
This is the most massive event in the basketball realm, so there is something for everyone. It is a college basketball tournament going on for a considerable amount of time. More betting options are hence available. In this and every other March Madness online betting, make use of:
Future Bets: These types of bets are there from the start of the season. Odds change throughout the season due to changes in in-game results. Here, you can choose the championship winner, the conference that will win or the best player. Utilizing these odds before the tournament begins assures you of more significant payouts.
Bracket Challenges: They are usually introduced after the First Four. Each bracket is divided into four regions. You wager on every single game until you win. Otherwise, even if one team loses, you have a chance to place a wager on another within your bracket.
Live Betting: This involves utilizing the changes as the tournament continues to your advantage. You are not restricted to the wagers you can place. Therefore, some may consider this instead of putting their money up before games begin.
Point spread, over/under, and Moneylines
Point spread wagers are placed on a favorite and an underdog. You choose the winning team and how many points you think they will win with. If it is 15, the team has to win with 16 in the least for you to win. Moneylines are like point spread wagers. The only difference is you don’t state by how many points. With over/under, there are odds put in place on a predicted total of both teams after the game.
If you are planning on March Madness online betting, it is better to begin early. This is when the wagers are high. Also, do your research and gauge team strengths before the tournament. Having an idea of the teams’ trends will also help. And always remember, bet online responsibly.