March Madness Betting Trends and Odds

Date IconLast Updated: Sep 18th, 2023
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March Madness Betting Trends and Odds
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As the NCAA men’s basketball tournament gets underway Tuesday, bettors are eyeing the March Madness odds, seeking wagering advantages.

The opening games on Tuesday feature two matchups being played at the University of Dayton Arena in Ohio. The pairings include a game between Texas Southern and Texas A&M-Corpus Christi and a showdown pitting Indiana against Wyoming.

The next two opening games, set for Wednesday in Dayton, are the Bryant-Wright State matchup and the contest between Rutgers and Notre Dame.

Below are trends and statistics that online bookmakers spotted before the start of play.

Arizona, Kansas Among Bettors’ Favorite Teams

The Indiana-Wyoming matchup is the “most popular game so far” among the first four, according to FanDuel Sportsbook.

The top-bet teams by bet count at FanDuel are Arizona (10%), Kansas (10%), Tennessee (9%), Iowa (8%) and Gonzaga (6%).

The top-bet teams by handle are Kansas (7%), Arizona (3%), Tennessee (3%), Iowa (2%) and Duke (2%).

FanDuel’s Final Four Bet Percentages

The top-bet teams by bet count to make the Final Four are Tennessee (9%), Arizona (7%), Kentucky (6%), Kansas (5%) and Iowa (5%).

The top-bet teams by handle to make the Final Four are Tennessee (17%), UCLA (13%), Kansas (8%), Auburn (7%) and Houston (7%).

FanDuel’s Most Outstanding Player Wagering

FanDuel also notes that the top-bet players by bet count to win Most Outstanding Player are Drew Timme (Gonzaga), Jaden Ivey (Purdue) and Chet Holmgren (Gonzaga).

The top-bet players by handle to win Most Outstanding Player are Ochai Agbaji (Kansas), Oscar Tshiebwe (Kentucky) and Drew Timme (Gonzaga).

BetMGM Facts and Figures

BetMGM Sportsbook also is spotting trends and patterns.

John Ewing, a BetMGM data and public relations specialist, noted that the “Under” in the first four games is 25-15 (63%) since 2011, when the tournament field expanded to 68. Below are BetMGM’s Over-Under bets for the first four games:

  • Texas Southern-Texas A&M-CC: 135.5
  • Wyoming-Indiana: 132.5
  • Bryant-Wright State:154.5
  • Rutgers-Notre Dame: 131.5

Before Tuesday’s games began, BetMGM’s statistics showed the following.

Most bet games (ticket count):

  • Michigan-Colorado State
  • Providence-South Dakota State
  • Arkansas-Vermont

Most bet teams (tickets):

  • Vermont :+5.5
  • South Dakota State: +2.5
  • Michigan: -2.5

Met bet teams (handle):

  • Vermont: +5.5
  • North Carolina: -2.5
  • Akron: +13.5
  • Caesars Sportsbook’s National Title Odds

    As with other online bookmakers, Caesars Sportsbook has posted updated odds on which team will win the national title.

    Gonzaga, the tournament’s No. 1 overall seed, is the favorite. Below are Caesars Sportsbook's national championship odds.

    • Gonzaga: 7-2
    • Arizona: 6-1
    • Kentucky: 7-1
    • Duke: 10-1
    • Kansas: 12-1
    • Baylor: 14-1