March Madness Betting Bracket
A good March Madness bracket may become priceless.
1 day ago Its March 2021 and you know what that means. College basketball teams from all over the country enter this “do or die” tournament and only one will come out victorious. And what March would be complete without a bracket contest? This year there is a March madness bracket contest which is paying out $100,000 in total money.
1 day ago It’s easy to forget that the state hasn’t experienced the betting joys and pains that come with the NCAA men’s basketball tournament. March Madness was one of the first large-scale sporting. Filed under big ten tournament, college basketball, march madness, march madness 2021, michigan wolverines, sports betting, Sports Picks, 3/2/21 Share this article: Share this. How to Bet on March Madness For 2021. One thing that is pretty universal in states with online sports betting is the process of how to actually place your wager. Follow these steps, and you will be able to place the perfect bet for your March Madness bracket.
Or worth at least $1 million.
However, DraftKings Sportsbook isn’t waiting until Selection Sunday to entice March Madness bettors.
It has unveiled a novel Millionaire BracketChallenge, with entry fees of $100 per bracket. The top prize is $1 million and $2 million will be paid out.
New Jersey is one of five states where the promotion is being offered. The others are:
- Colorado
- New Hampshire
- West Virginia
- Tennessee
Players are allowed up to 20 entries. The competition can be found in the pools or promo section on its website.
Breaking down the Millionaire Bracket prize pool
The prizes range between $1 million and $150. Here is a breakdown of the bigger payouts:
- First: $1 million
- Second: $250,000
- Third: $125,000
- Fourth: $75,000
- Fifth: $50,000
- The 6-10 slots range from $30,000 down to $12,500
The bottom line is there will be ties, and these payouts will be averaged out. However, anyone who finishes in the top 1,500 will be close to even.
“This is truly exciting because a lot of games are difficult to pick, especially this year,” Johnny Avello, the director of race and sportsbook operations for DraftKings, told NJ Gambling Sites. “The days of the 30-point spread in college basketball are over.
“This is the first time we are doing this competition. I think it is going to be fantastic.”
However, there is one small disclaimer for New Jersey gamblers. If a Garden State team makes the Big Dance, entries will automatically be assigned to the opposing team. And this is in accordance with NJ sports betting regulations.
But who is going to have Seton Hall or Rutgers winning it all?
Brackets: the soul of March Madness
Brackets represented March Madness betting, primarily in the office-pool realm.
That was until the PASPA repeal made every game available for wagering (unless a New Jersey team or location is involved).
Brackets now capture the casual bettor, propelling the multi-million-dollar March Madness gambling engine.
And based on elite teams toppling like dominoes in the last week, upsets are going to be needed to fuel a winning bracket.
But how many?
March Madness brings uncertain future
“You have to be asking yourself if (No 1. Ranked) Gonzaga is really that good,” said Avello.
“And look at the other teams having trouble,” he added. “It’s wide open. The Millionaire’s Bracket is going to be exciting and so is the rest of college basketball for the next few weeks.”
Betting enthusiasm will be fueled by parity at the top.
Teams that led the rankings all year just suffered a week of wreckage.
First, it was Ohio State, ranked as high as No. 3 in the AP Poll.
In succession came losses to Michigan, Michigan State, and Iowa. The latter was a 73-57 blowout.
Then there is the Villanova Wildcats.
They were ranked as high as No. 3 in the AP top 25, but getting pounded 73-61 by Butler doesn’t help. Yes, that Butler, which entered the game at 8-13. And the game wasn’t close.
The shocks do not stop there.
Michigan, which had taken a run of recent money at DraftKings and William Hill, was plastered Monday night by No. 4 Illinois, 76-53.
The No. 2 team in the nation, playing at home, gets blown out.
Call it parity.
Futures betting opportunities are everywhere.
And, in a big game we forecasted here last week, No. 3 Baylor went all out to topple West Virginia, 94-89 in overtime.
West Virginia held the lead in the final minute.
The Mountaineers remain a futures champion longshot (+3000) but have now lost by only five points to Gonzaga and Baylor.
They remain a tremendous value because they haven’t gotten over the top. So you know some brackets will bear their names as champions.
Time to go conference tournament shopping
Because of last week’s shakeup, this is an excellent betting week for the Big 10 Conference Championship. The dogs are live in the updated mid-week betting odds.
Here are the odds to win it at DraftKings:
- Michigan+185
- Iowa +375
- Illinois +400
- Ohio State +450
- Purdue +700
Thinking about betting on the hot teams? You’re looking at Iowa and Illinois.
But if you’re buying on the dip, Michigan and Ohio State currently represent bargains.
All these teams will battle again next week, just as they did in the past two.
And bettors have a good reason to sink their teeth into whatever teams they like here.
Maryland, at +5000, has been beating the best of the rest.
Big East Conference has similar overtones
Villanova and Creighton are deservedly favored. However, they are looking a little shaky and now represent good buys.
Here is the Big East Championship odds breakdown as of Wednesday afternoon:
- Villanova +175
- Creighton +200
- UConn +475
- Xavier +600
So there are good values all around.
Butler, fresh off the Villanova win, is +6000. And Creighton recently lost to Xavier.
Michigan Rises, then falls at William Hill
You’ve heard of the Sports Illustrated jinx, right? Feature an athlete on the cover and watch for a flop.
That happened to Michigan after it became a top-tier team at the William Hill sportsbook.
Before being blown out by Illinois, Michigan had jumped to +350 for the national championship.
They joined Gonzaga (+250) and Baylor (+350) for the shortest championship odds.
The optimism had come with good reason.
“Michigan is absolutely on that same tier as Gonzaga and Baylor,” said Nick Bogdanovich, Director of Trading for William Hill US.
“They’ve been playing outstanding. We’ve got huge liability on Michigan, the bettors were pounding them early. So we lose really bad with Michigan and we lose pretty damn good with Baylor, too.”
Michigan was listed at +7500 before the start of the season and jumped to as high as +125 in early December.
The Wolverines dropped to +8500, then +2500 in early January, and now are a near chalk.
We talk about the great futures betting odds available by wagering early in the season.
This is a classic example.
Meanwhile, the biggest 2020-21 college basketball championship futures wager on Gonzaga was a New Jersey bettor laying $15,000 on them at +800 for a total potential payout of $135,000.
Dreamstime Photo
As we enter February and grieve the football season passing us by, we mustn’t forget what time of year it is. It’s March Madness time. That’s right, it’s time to dust off those old brackets and prepare for the greatest tournament in all of sports (and sports betting, for that matter).
With the pandemic restricting the NCAA tournament to the Indianapolis area, many Covid-related questions are still in the air. That said, one thing is for certain – March Madness offers bettors one of the greatest opportunities to have fun and (hopefully) make money.
March Madness Favorites
When odds were first announced, Villanova, the previous March Madness champs, came out as the favorite. However, much has changed. Villanova lost to Virginia Tech in late November and to Saint John’s, in a surprising defeat, on February 3rd.
Despite these two losses, Villanova is still positioned as the 3rd overall team, with +750 odds at BetMGM. The Wildcats trail Gonzaga and Baylor (+250 and +450, respectively), both undefeated.
Michigan comes in at 4th at +1200 with BetMGM. This judgment is echoed by Andy Katz, whose bracket has these four teams as the number one seeds. DraftKings is currently offering -305 odds for Gonzaga to make the final four, -305 for Baylor, +100 for Villanova, and +170 for Michigan.
See our Complete Guide To March Madness Odds And Betting On The Final Four
Underdog Picks
While making a futures bet on a favorite is always a safe move, betting on an underdog is where the most excitement, and hopefully the most money, is to be found. After all, who doesn’t love a Cinderella story?
One great way to profit from an underdog comes in the round of 64. Betting a 12 seed to upset a 5 seed, for instance, has been one of the most popular and profitable bets in recent years. Since the tournament expansion in 1985, 12 seeds have beaten 5 seeds roughly 35% of the time.
Similarly, a bet on an 11 seed over a 6 seed or even a 13 seed over a 4 seed has historical merit. Since 1985, 29 13 seed teams have beaten 4 seeds, which equates to almost 21% of the time. For 11 seeds beating 6 seeds – the upset happens about 37% of the time. Given these stats, you can surely find some expected-value positive bets.
An Underdog To Win
One team that stands out as the value-bettor’s sleeper is Illinois. Based on the NCAA’s NET rankings through February 3rd, Illinois is the 4th ranked team overall. However, many of the sportsbooks seem to disagree. DraftKings has Illinois at 13th overall to win the championship.
Considering this asymmetry, DraftKings’ odds of Illinois winning (+2000) or making the final four (+400) could be advantageous. Illinois is preparing for their bout against Michigan on February 11th – a game that will likely determine the Big Ten leader. If Illinois pulls off a win, you can rest assured those odds won’t be as sweet.
Bracket Challenges
Espn March Madness Bracket
Really, what is March Madness without a bracket? Making a bracket is not only wonderful for teasing your friends over their terrible picks, but it also gets you involved in every single game. And even though your bracket is sure to be busted, several sportsbooks have offered great challenges with big money payouts.
For the last NCAA tournament, DraftKings offered New Jersey Residents a chance to compete in a $100,000 prize pool for a $20 buy-in. They also offered a free entry contest, available to anyone in the US. The contest touted $64,000 in total prizes.
Current March Madness Bracket
FanDuel also offered a free, nationwide bracket contest. With over $250,000 in total prizes, the proud owner of the best bracket received a cool $100,000. Assuming DraftKings and FanDuel offer something similar this year, making a bracket and signing up for the free competition is a no-brainer.