Whether you’re in a state with legal online sports betting or want the best odds for your NCAA Tournament bracket predictions, we have the current Vegas March Madness odds and US sportsbook promos you’re looking for. Use the March Madness 2023 odds below to quickly find the best odds, plus tons of promotions for betting on the biggest tournament of the year.
Best March Madness Sportsbook Promotions for New Signups
DraftKings Sportsbook Bonus Code
Sign up for a $50 bonus bet + a 20% deposit-match bonus up to $1,000.
BetMGM Sportsbook Bonus Code
Up to $1,000 loss back bonus + $50 in bonus bets after first bet.
Caesars Sportsbook Promo Code
Bet up to $1,250 and get a bonus bet of equal value if it loses.
FanDuel Sportsbook Bonus Code
Bet up to $1,000 and get a refund in bonus credits if it loses.
March Madness Sportsbook Promos for Existing Users
If you’re already signed up at the above sportsbooks, you don’t have to feel left out for March Madness 2023. We’ve put together a table below of all the current promotions being offered to both new and existing players, so anyone can take advantage of them for their chance to win big.
|Sportsbook||Existing User Promo||Claim Now|
|DraftKings Sportsbook||Enter free-to-play bracket pools to win cash prizes up to $50,000||Claim Now|
|BetMGM Sportsbook||Enter for free for your chance to win up to $100,000 by predicting the most correct selections||Claim Now|
|BetRivers Sportsbook||Make your free picks for a chance to earn points and win prizes up to $600||Claim Now|
|FanDuel Sportsbook||Place a wager on college basketball and get a refund in bonus bets if it loses||Claim Now|
Most Popular March Madness Sportsbook Promos 2023
If you want the best of the best this tournament season, look no further. We’ve given a quick rundown of the most popular sportsbook promos for March Madness 2023 below.
DraftKings March Madness Promo
The DraftKings March Madness promo for new players offers a $50 bonus bet + a 20% deposit-match bonus up to $1,000. This is a great way to dive into the action as you get both a bonus bet to get started right away, as well as extra funds if you choose to make a deposit.
Click Here to Claim the DraftKings March Madness Promo
Caesars March Madness Promo
The Caesars March Madness promo for new players gives you a nice safety net for your tournament bets. With promo code SBBONUSFULL, you can bet up to $1,250 and get a bonus bet of equal value if it loses. March Madness is a tournament of upsets, so this is an excellent March Madness promo to take advantage of.
Click Here to Claim the Caesars March Madness Promo
BetMGM March Madness Promo
The BetMGM March Madness promo offers a loss back bonus that gives you up to $1,000 back in multiple bonus bets, but that’s not all. To sweeten the pot, BetMGM Sportsbook has added $50 in bonus bets after your first bet so this is a can’t-miss March Madness promo. The $50 in bonus bets is a limited-time offer, so make sure to get in and claim it while you still can.
Click Here to Claim the BetMGM March Madness Promo
FanDuel March Madness Promo
Last but not least on our list of the most popular March Madness promos comes FanDuel. This new player offer, much like the Caesars offer, gives you some cushion for your tournament bets. The deal is simple — bet up to $1,000 and get a refund in bonus credits if it loses. As we stated earlier, March Madness is a great time to take advantage of an opportunity like this, whether you’re looking to bet on an underdog or protect yourself from a potential upset.
March Madness Odds 2023 – Chances to Win for Every Team
Favorites to Win March Madness 2023 According to the Current Odds
According to the current March Madness 2023 odds, Houston is the favorite to win this year’s tournament. But at around +500 odds, betting on the favorites can still equal a big payday if they can pull it off. Also, keep in mind that #1 seed Gonzaga was the far and away favorite to win the 2022 March Madness tournament, then lost in the Sweet 16 to #4 Arizona. If there’s anywhere upsets will happen, it’s at March Madness.
The second and third most likely to win are also projected at a consensus between sportsbooks. DraftKings, BetMGM, and FanDuel all have Alabama and Kansas tied for second and third most likely, and the odds aren’t far off. The top four teams on DraftKings all have odds set at +1000 or better. So to call any team the outright favorites to win March Madness 2023 is highly debatable.
Either way, you can use the odds table above to lock in the best odds on March Madness 2023 possible to maximize your profit margins.
March Madness 2023 Bracket – All Game Results
Below is the result of each game played across the March Madness 2023 bracket. Click any of the games on the bracket to visit DraftKings Sportsbook for $50 bonus bet on signup + a 20% deposit-match bonus up to $1,000.
Types of March Madness Bets
Some states limit the types of March Madness bets you can place at an online sportsbook. For example, Illinois restricts placing player prop bets, and New York blocks betting on in-state college teams. But, in general, players have the following types of March Madness bets at all online sportsbooks:
- Moneyline: A simple win-or-lose bet on either team for each individual game of the March Madness tournament.
- Points Spread: Bet on a team to start with extra points (plus number) or negative points to even the odds (typically -110) between the underdog and favorite.
- Over/Under Totals: Bet whether the total combined points between the two teams will be over or under than the sportsbook’s guess (such as over/under 160.5 points).
- Futures: Bet on the future winner of the tournament, which is the most popular (and only) odds on March Madness prior to Selection Sunday.
- Parlays: Combine multiple bets into a single wager to increase the overall win potential. All individual bets must win for the parlay to pay out. Sportsbooks now offer same-game parlays on March Madness basketball, including combining moneyline and totals with player and team props.
- Player Props: Restricted in some states and not offered by some sportsbooks, March Madness player prop bets can be hard to come by. But the idea is that you’re betting on a player’s individual performance, such as over/under rebounds, points, rebounds, and three-pointers.
- Team Props: This is a much more common bet and involves how a specific team will perform, such as over/under rebounds or points.
- In-Game Live Betting: Another bet that’s often restricted for college sports, an in-game live bet is placed after opening tipoff, such as the result of the next possession or the winner of the game at halftime.
Betting on March Madness Games vs. Brackets – Which Is Better?
You’re more likely to win the lottery (around 1 in 42 million) than you are to fill out a perfect March Madness bracket, which has odds around 1 in 9 quintillion (the name of the number that comes after quadrillion). So those perfect bracket challenges are worth going for because they’re free, but the odds are beyond absurd.
Basically, a perfect bracket is a 63-leg parlay, which has absolutely never been won. In fact, a 25-leg parlay is pretty much unheard of, and most online sportsbooks limit the maximum picks to 20 legs.
However, winning a bracket pool may have a better return on investment than betting on the games throughout the March Madness tournament. You only have to beat the people in your pool to win money, so the odds become considerably better (although still relatively long) compared to filling out a perfect bracket. It’s not uncommon to get all but one Final Four team wrong and still get a payout.
Sports Betting Odds
The big advantage betting on each game has is the ability to win after losing. If the team you have going all the way on your March Madness bracket is out in the first or second round, your bracket is shot and you can pretty much kiss the price of entry goodbye. If a single bet on a game loses, that’s expected and you can hope for the next one.
Betting on each individual March Madness game also allows you to play each game smarter. Is one too close to call? You can skip it if you’re betting on sports. But you have to guess if it’s on your bracket.
Further, many sports bets have odds better than 50%. The sportsbook always charges a 10% vig on every bet that’s built into the odds, which is why a 50/50 bet is reflected at -110 odds rather than +100. So any odds shorter than -110 have an implied probability that’s better than 50%. For example, a bet with odds -200 has about a 66% chance of winning.
By that same token, you can win a lot more than most bracket pool prizes by betting on long shots, including parlays. For example, an 8-game college basketball parlay, for example, can have odds at +17,544, meaning just a $10 bet would pay out $1,754.40.
Let’s Have Some Fun Out There
For many of us, 2023 will be only the first or second NCAA tournament that will be played since sports betting was legalized in our state. That means it could very well be your first time betting on your favorite teams, alma maters, and hometowns without traveling to Nevada for the Vegas odds on March Madness. So, ultimately, don’t worry if the team you like isn’t the best value on the board. Sit back and enjoy the fact that you can now legally bet to add the fun kind of madness to your March.