March 2, 2023
Your Guide to Betting on March Madness 2023
- Many sportsbooks have given winning odds to the University of Houston men’s basketball team to win the 2023 NCAA Division I Men’s Basketball Championship.
- Kansas, Alabama, Arizona, and Purdue are all close behind Houston to win the March Madness 2023 tournament.
- Zach Edey of Purdue University has the best sportsbook odds to win the John R. Wooden Men’s Player of the Year Award.
Spring is nearly here, so you know what time it is … March Madness! The NCAA Men’s Division I Basketball Tournament begins on March 14, 2023, and the final game is on April 3, 2023. You can watch March Madness games on the NCAA website, CBS, TBS, TNT, and TruTV throughout the month of March.
As of this writing, we’re in the middle of pre-bracket play to determine which teams are going into the multi-week gauntlet. So you still have plenty of time to place your bets.
Here’s your ultimate guide to betting on March Madness 2023!
How to Bet on March Madness
Follow these steps on how to bet on the March Madness tournament:
- Pick an online sportsbook: Look for competitive odds for the bets you want to make. Read user reviews to learn more about their customer service and withdrawal processes, too.
- Create an account: Sign up for a new account, or log in to your existing online casino account.
- Take advantage of new bettor offers: Many online sportsbooks offer money-back bonuses for new users as well as new-player odds boost offers, too.
- Deposit money into your account: Some offers require you to deposit a certain amount of money to opt in.
- Opt into event-specific offers: Many sportsbooks have odds boosts for March Madness matchups.
- Do your research: Stay up to date with new matchup results, watch game coverage, and even listen to sports betting podcasts to get in-depth information you need to make smarter bets.
- Select your March Madness bets: Pick the teams you think will win in different matchups and move on to the next round. You can even pick an entire bracket of bets, like you would in a March Madness bracket gambling pool.
- Choose your wager amount: On your bet slip, you can adjust how much you want to wager on each bet. Check your profit margins to get a good idea of how much you could stand to win.
Types of Bets for March Madness
You can make many different types of bets for college basketball, and these are only amplified for March Madness because the best of the best are playing. The main bet types and their descriptions are:
- Moneyline – The winner of the game.
- Point spread – The amount by which the winner wins (or the loser loses).
- Over/Under – The total number of points scored.
- Parlays – Combo bets to maximize your profits.
- Player Props – Include betting on the player with the most points scored, highest number of rebounds, highest number of assists, highest number of three-pointers, and even highest number of combos.
- Team Props – Team-specific scoring and play successes.
- Game Props – Special points wagers. For instance, DraftKings has a race to 10, 15, 20, and so on points for various games.
Who Is Favored to Win the NCAA Basketball National Championship 2023?
According to multiple sportsbooks in New Jersey, the following teams are favored to win the 2023 March Madness tournament:
- University of Houston Cougars (Houston) has the best odds to win across New Jersey sportsbooks.
- University of Kansas Jayhawks (Kansas) won the championship in 2022 against University of North Carolina (UNC).
- University of Alabama Crimson Tide (Alabama) was ranked No. 5 in their conference last year but was knocked out in the first round.
As of this writing, we’re in the middle of conference play and about two weeks out from the start of the championship tournament. While online sportsbooks have set odds for the teams they believe are likely to win right now, it’s still anyone’s bracket. Since there are so many matchups, there are plenty of chances for upsets. That’s what makes March Madness so exciting for spectators and bettors alike!
That said, here are the top 11 teams who are favored to win the 2023 NCAA Men’s Division I Basketball Tournament:
| Odds for 2023 March Madness Tournament Winner | ||||
| BetMGM | Caesars | DraftKings | FanDuel | |
| Houston | +600 | +650 | +650 | +650 |
| Kansas | +800 | +800 | +850 | +800 |
| Alabama | +800 | +1000 | +900 | +900 |
| Purdue | +1000 | +1200 | +1000 | +1000 |
| UCLA | +1200 | +1200 | +1200 | +1300 |
| Arizona | +1400 | +1000 | +1600 | +1700 |
| Baylor | +1600 | +2000 | +1800 | +1700 |
| Tennessee | +2000 | +1800 | +2500 | +2500 |
| Texas | +2000 | +2500 | +1800 | +2300 |
| Connecticut | +2000 | +1600 | +2000 | +2000 |
| Gonzaga | +2500 | +2200 | +2500 | +2600 |
Data pulled 02/26/2023.
Other Favored Bets for March Madness 2023
While betting on the winner of the NCAA Men’s Basketball Championship is the most popular bet, you can place wagers on every game up until the bracket starts. That includes regular season games and conference showdowns. You can also make bets on each bracket game, including the First Four, First Round, Second Round, Sweet 16 (third round), Elite 8 (fourth round), and the Semifinals (Final Four).
Conference Tournament Winners
You can also bet on the winners of each conference. As of publishing, winners have already been crowned for the following conferences:
- Atlantic Sun Conference Winner — February 27
- ACC Regular Season Winner — February 28
- Horizon League Conference Winner — February 28
- Patriot League Conference Winner — February 28
- Sun Belt Conference Winner — February 28
- SEC Regular Season Winner — February 28
- Big South Conference Winner — March 1
- Ohio Valley Conference Winner — March 1
- West Coast Conference Winner — March 2
- Missouri Valley Conference Winner — March 2
We’ve included odds for conference games that occur after the publishing of this article.
| Odds for 2023 American Athletic Conference Winner | ||||
| BetMGM | Caesars | DraftKings | FanDuel | |
| Houston | N/A | N/A | N/A | -280 |
| Memphis | N/A | N/A | N/A | +500 |
| Cincinnati | N/A | N/A | N/A | +1600 |
| Tulane | N/A | N/A | N/A | +1600 |
| UCF | N/A | N/A | N/A | +2000 |
| Temple | N/A | N/A | N/A | +2500 |
| Wichita State | N/A | N/A | N/A | +4000 |
| South Florida | N/A | N/A | N/A | +10000 |
| Tulsa | N/A | N/A | N/A | +10000 |
| SMU | N/A | N/A | N/A | +10000 |
| East Carolina | N/A | N/A | N/A | +10000 |
| Odds for 2023 Colonial Athletic Conference Winner | ||||
| BetMGM | Caesars | DraftKings | FanDuel | |
| Charleston | N/A | -125 | -115 | N/A |
| Hofstra | N/A | +170 | +180 | N/A |
| Towson | N/A | +850 | +600 | N/A |
| UNCW | N/A | +1500 | +1000 | N/A |
| Drexel | N/A | +2800 | +2500 | N/A |
| Delaware | N/A | +6000 | +5000 | N/A |
| William & Mary | N/A | +20000 | +25000 | N/A |
| Elon | N/A | +15000 | +25000 | N/A |
| North Carolina A&T | N/A | +30000 | +30000 | N/A |
| Northeastern | N/A | +15000 | +40000 | N/A |
| Stony Brook | N/A | +30000 | +50000 | N/A |
| Monmouth* | N/A | N/A | N/A | N/A |
| Hampton | N/A | +30000 | +50000 | N/A |
*New Jersey school; see “Can You Bet on New Jersey Colleges or Games When You’re in New Jersey?” section below
Data pulled 02/26/23
| Odds for 2023 Summit League Conference Winner | ||||
| BetMGM | Caesars | DraftKings | FanDuel | |
| Oral Roberts | N/A | -180 | -180 | N/A |
| South Dakota State | N/A | +375 | +400 | N/A |
| St. Thomas | N/A | +750 | +800 | N/A |
| North Dakota State | N/A | +750 | +750 | N/A |
| South Dakota | N/A | +5000 | +5000 | N/A |
| Western Illinois | N/A | +5000 | +4000 | N/A |
| Denver | N/A | +6000 | +10000 | N/A |
| North Dakota | N/A | +7500 | +10000 | N/A |
| Kansas City | N/A | +12500 | +10000 | N/A |
| Omaha | N/A | +25000 | +15000 | N/A |
Data pulled 02/26/23
| Odds for 2023 Southern Conference Winner | ||||
| BetMGM | Caesars | DraftKings | FanDuel | |
| Furman | N/A | +110 | +120 | N/A |
| UNC Greenboro | N/A | +225 | +250 | N/A |
| Samford | N/A | +450 | +400 | N/A |
| Chattanooga | N/A | +1400 | +1200 | N/A |
| Wofford | N/A | +2800 | +1900 | N/A |
| Western Carolina | N/A | +3500 | +2000 | N/A |
| East Tennessee State | N/A | +2000 | +2000 | N/A |
| Mercer | N/A | +4000 | +4000 | N/A |
| VMI | N/A | +30000 | +40000 | N/A |
| Citadel | N/A | +30000 | +40000 | N/A |
Data pulled 02/26/23
Final Four
You can also wager on which four teams you think will make it to the penultimate championship game. You really have to have a clean bracket to hit it big here. But these are the sportsbooks’ odds for the 10 teams they think will make it to the Final Four.
| Odds for 2023 March Madness Tournament Winner | ||||
| BetMGM | Caesars | DraftKings | FanDuel | |
| Houston | N/A | N/A | +130 | +130 |
| Kansas | N/A | N/A | +190 | +160 |
| Alabama | N/A | N/A | +200 | +185 |
| Purdue | N/A | N/A | +240 | +200 |
| UCLA | N/A | N/A | +300 | +270 |
| Arizona | N/A | N/A | +350 | +380 |
| Baylor | N/A | N/A | +450 | +380 |
| UConn | N/A | N/A | +450 | +430 |
| Texas | N/A | N/A | +450 | +500 |
| Tennessee | N/A | N/A | +550 | +550 |
Data pulled 02/26/23
John R. Wooden Award
Every year, a committee of American college basketball experts vote on a men’s and women’s basketball player to receive the The John R. Wooden Player of the Year Award. In general, the qualifications and voting parameters include:
- Full-time students at an NCAA college or university
- Have a cumulative GPA of 2.0 or higher
- Excel as an offensive and defensive player
- Have excellent teamwork skills and dedication to their team
You can vote on the 2023 men’s Wooden Award recipient, including these candidates:
| Odds for 2023 March Madness Tournament Winner | ||||
| BetMGM | Caesars | DraftKings | FanDuel | |
| Zach Edey (Purdue) | -1400 | N/A | -10000 | -20000 |
| Jalen Wilson (Kansas) | +1000 | N/A | +4000 | +4000 |
| Trayce Jackson-Davis (Indiana) | +1800 | N/A | +4000 | +3000 |
| Oscar Tshiebwe (Kentucky) | +2500 | N/A | +15000 | N/A |
| Marcus Sasser (Houston) | +2500 | N/A | +15000 | +20000 |
| Azuolas Tubelis (Arizona) | +2500 | N/A | +15000 | +20000 |
| Adama Sonogo (UConn) | +4000 | N/A | N/A | N/A |
| Brandon Miller (Alabama) | +4000 | N/A | +10000 | +25000 |
| Drew Timme (Gonzaga) | +5000 | N/A | +15000 | +20000 |
| Armando Bacot (UNC) | +6600 | N/A | +20000 | N/A |
| Kris Murray (Iowa) | +8000 | N/A | +20000 | +25000 |
| Markquis Nowell (Kansas State) | +8000 | N/A | +20000 | +25000 |
Data pulled 02/26/23
Can You Bet on New Jersey Colleges or Games When You’re in New Jersey?
No, New Jersey gambling laws prohibit anyone in the state of New Jersey — resident or not — from betting on any New Jersey-based colleges or any collegiate games played in New Jersey. That means you won’t be able to wager on schools like Rutgers, Monmouth, or Princeton.
Luckily, many online sportsbooks in New Jersey automatically remove New Jersey schools from the betting pool. That way you don’t have to worry about accidentally breaking this law.
Looking for an online casino and sportsbook in New Jersey? You can place your bets now at:
We’ve reviewed these online casinos so you don’t have to. Learn which online sportsbooks in New Jersey have the best new player bonuses, customer service, and more.