March Madness 2024 is just around the corner now, and we at The Gruelling Truth are just as excited as ever. For us, it’s one of the most exciting times on the sporting calendar. It’s the peak of college basketball, and the number of different games makes the action feel almost non-stop.
From a betting perspective, this can be both a positive and negative thing. There are plenty of opportunities to win big on March Madness parlays and have fun, but there is also a risk of getting caught in a loop, losing lots of money, and developing a problem.
We at The Gruelling Truth endorse only responsible gambling. We only bet with stakes we can comfortably afford to lose, and we never chase a loss.
Now, without further ado, let’s get into this March Madness 2024 parlay breakdown.
Top Parlay for Round One
My top parlay for Round one games is usually a small favourite which would be Florida Atlantic over Northwestern, I feel that the Wildcats injury issues combined with Florida Atlantic’s tournament experience bodes well for a Florida Atlantic win at -140.
NC State at +160 against Texas Tech. I like it because the Wolfpack are as hot as any team in the tournament. They beat Duke and North Carolina in the ACC Tournament, and I feel they have a real shot to take down Texas Tech in what should be a close, hard-fought game.
James Madison is at +195 against Wisconsin. I like enough to make it a game; I am going to bet straight up on that money line by itself. Wisconsin has struggled since January in conference play, and JMU has been good all season with a record of 31-3.
Finally, another almost 2-1 underdog rounds out our top parlay, as Grand Canyon is +195 against St. Mary’s. Grand Canyon is an experienced team that matches up well with St. Mary’s and this should be another tight game.
This is a longshot parlay that pays at +3778 which means a ten-dollar bet cashes in at a total payout of $387.88
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NC State +160
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James Madison +195
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Florida Atlantic -140
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Grand Canyon +195
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Bet $5, Get $150 If Your Bet Wins
Go to DraftKings
What is a March Madness Parlay?
A parlay bet is a bet that combines multiple different outcomes into one big bet. The odds are usually quite high. The biggest winners you see on social media usually come from parlay bets. There have been some amazing winners over the years, but there is a small catch.
If just one of your selections doesn’t hit, the whole bet loses. This can make for some of the most heart breaking losses. Especially if it all comes down to the last leg. Some bookies do offer ways for the bettor to get a slight advantage on parlays, we’ll discuss some of those later on.
Types of March Madness Parlays
There are two main types of March Madness parlays that you can stake your funds on. Both are equally fun and important. There is a time and place for each to be effective. The two are:
- Multi-game parlay
- Same-game parlay
Multi-game Parlay
A multi-game parlay is the traditional type, and it’s exactly what it says on the tin. A parlay that includes multiple different games. The most popular way to incorporate this type of bet is to simply pick who you think will win each game.
The beauty of March Madness parlays is the volume of games to pick from. If you pick carefully, you can create a very high potential return with a very small wager. Higher odds tend to be far more enjoyable to track and the feeling is very sweet when you show your friends a +5000 parlay winning slip.
Same-game Parlay
Same game parlays are where things get even more interesting. You are tasked with picking multiple outcomes to happen in a single game. These bets take advantage of player prop markets, over/under markets, and more.
If you have a particular expertise on a game, a same game parlay can be your best friend. For example, if you fancied a player to get more than 20 points, his team to win, and there to be over ‘x’ amount of points, then you can combine them all and make some great odds.
You can even combine multiple same game parlays into one mega parlay. This is where things begin to get really interesting, the odds can skyrocket if you combine three or four of the same game parlays into one.
How to place a March Madness parlay
Right, now that you know exactly what a March Madness parlay is, the next thing is how to actually place one. Allow us to guide you through the process of setting up your betting account all the way to placing your first parlay ahead of March Madness.
Don’t worry, it won’t take long, and it’s really simple…
Step 1: Choosing a Sportsbook
The first step in choosing the best March Madness parlay is choosing which sportsbook you’d like to play with. There are quite a few that all offer unique bonuses and welcome incentives, so it can be a tough choice.
To make it easier, they are all laid out below with their welcome offers. If you’re struggling to pick, we would suggest going with BetMGM. We have always had a great experience with them here at The Gruelling Truth.
1.
Up to 125 SC FREE + 625K Golden Coins + 1250 VIP Points
Players from Virginia accepted
2.
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
Players from Virginia accepted
Requirements (WR): 3x
3.
150% Purchase Offer: 25 SC FREE and 50K GC
Players from Virginia accepted
4.
100% Purchase Bonus, Spend $20 get a 200k GC and 40 SC Bonus
Players from Virginia accepted
5.
27.5 SC FREE and 57.5K Gold Coins
Players from Virginia accepted
Requirements (WR): 1x Bonus
Step 2: Set up an account
The sign-up process for a sportsbook is actually really simple. It takes less than five minutes for most of them.
You’ll just need to fill out some basic information and complete some identity checks and you’re in. Make sure to use a promo code as well to make sure you get all the welcome benefits.
Step 3: Do your research
If all has gone well, you should be set up and looking at your chosen sportsbook’s website/app.
Now don’t get ahead of yourself and start adding random legs onto a parlay, this is where you’ll end up losing money. Instead, open a new tab and get reading. If you’re unfamiliar with NCAAB then have read about it.
Also, look out for expert tips, we’ll share some later on, but closer to the start date when the fixtures are announced, there will be plenty of tips flying around. Give yourself the edge and get reading.
Step 4: Place that bet
By now, you should have an account set up with a sportsbook, some money loaded up, and some knowledge on college basketball. The brackets come out on the 17th of March, so you can’t quite pick a traditional parlay just yet.
But you should be well prepared now and ready to go when the first four are announced.
Make sure to check out our
best sports betting apps
if you are looking for the top on the go options!
March Madness Parlay Betting – DraftKings
Pros and cons of DraftKings
- Superb range of different sporting leagues
- Effective in-play betting feature
- Exciting fantasy team building
Want to make your March Madness betting promos a little bit more exciting? DraftKings Sportsbook has got you covered. Start betting, and raise the stakes with their $150 Bonus Bet deal by just placing a $5 wager.
Here’s the scoop: Solely exclusive for new customers, anyone who has not yet created an account with DraftKings.
Once you’re on board, you’ll be given six separate bonus bets of $25 each, totalling up to $150. These Bonus Bets are for one-time use only; they cannot be converted into cash and require being wagered once before withdrawing any winnings. You have 7 days until they expire. Do not miss out! This offer ends on April 14th, 2024.
Bet $5, Get $150 If Your Bet Wins
Is March Madness betting legal?
March Madness betting is very legal, yes. But only in certain states. Here are the states where you can legally bet on it:
- Arizona
- Arkansas
- Colorado
- Connecticut
- Delaware
- Florida
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Mississippi
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- Tennessee
- Vermont
- Virginia
- Washington
- Washington, D.C.
- West Virginia
- Wisconsin
- Wyoming
Quite a few…
Best March Madness Parlays and Strategies
When placing bets, it is important to have some kind of strategy in place, unless it’s a throwaway bet with loose change. There are multiple tiers of strategy when it comes to
March Madness betting sites, and all of them have their place.
Everyone has their own way of betting, and one of these strategies should suit you.
Strategy 1: Using expert opinions
The first type of March Madness parlay strategy is looking into expert opinions. You can find plenty of articles, TV programs, podcasts and YouTube videos where experts will be discussing March Madness. You can just take what the experts say and base your picks around that.
They’re not always right, but they’ll give you a good gauge.
Strategy 2: Watching the game
Strategy 2 is perhaps the most basic, it is simply watching the game of basketball and determining your picks based on what you see. You could watch a team huff and puff into the next round and know they’ll have a tough ride in the next round, or vice versa.
It also goes hand in hand with in-play betting. If you’re watching a game, you may get a sense early that it’ll be high scoring or that a certain player will do something.
The knockout format of the tournament makes the action much different from a regular season. One loss and you’re out, teams tend to give more and ‘leave it all on the court’. It makes for some great stories.
Strategy 3: Using statistics
Using stats is one of the best and most logical ways to make March Madness Parlay picks. You can find high end data for free at plenty of different sites. The amount of information available is quite frankly, insane.
In 2024, we have more data access than ever before, and you can use this to make picks based on logic and even find bookie mistakes. The vast majority of sportsbooks use supercomputer algorithms and automation to pick their odds, and sometimes you can find some amazing value through the cracks.
Using stats is the best way to find value in odds. Some sites worth checking out are:
- CBB Analytics
- ShotQuality
- Synergy
These are just a few, there are more out there too. It’s understandable if you’re not bothered about reading up on stats, as it does take some time, but it will give you much more contextual knowledge and a potential edge.
Also make sure to follow
March Madness betting trends
to keep up with the latest trends.
Things to avoid when betting on March Madness Parlays
In order to be successful when betting on March Madness parlays you need to be smart, disciplined and know your limits. It’s all well and good to know how to make picks, but managing your betting habits is equally important.
Here is what to avoid when betting on March Madness parlays. This is important.
Not managing your bankroll
Managing your bankroll starts with setting a deposit limit at your sportsbook and sticking to it. You can change the limit later, but it is very important to start small. Keep tabs on what you’re spending, you can check within the sportsbook apps, but we’d even recommend keeping note of yourself.
Get a little notepad and pen or whip up a spreadsheet, whatever you prefer. Seeing each bet you’ve put on in black and white will help you see where you’ve gone wrong and keep track of your spending.
This is perhaps the most important, and for a good reason. When betting you will experience highs and lows, even with small stakes, you still feel gutted when a bet doesn’t land. Don’t act on these emotions.
There are countless stories of people chasing losses, particularly during March Madness. The volume of games makes it easy to just keep on betting. If your parlay doesn’t hit, it doesn’t hit and that should be that. Don’t just throw money on the next game to make your stake back. It’s a vicious cycle. This leads straight onto the next thing…
Something that makes March Madness so unique is the massive amount of games in just one month. It can be very easy to get caught up in the excitement and feel the need to bet on each and every game. Whether it be a parlay or a single selection bet.
A good rule of thumb is to only bet on single selections on games that you intend to watch.
How to find the best value March Madness parlays
Value spotting is one of the most advantageous ways of making money in the world of sports betting. It entails finding a hot pick with overpriced odds. In this next section, we will break down exactly how you can find the best value March Madness parlay picks.
Here we go…
Step 1: Find your pick
The best way to find a high value pick is by looking at the stats. You can see which players like to shoot, who gets rebounds, how they react to certain opponents, court heat maps and more.
For example, if you liked a certain player for threes made, it would be a smart idea to look at his potential opponent, watch some clips and see how he defends. You can find much more potential mismatches in the NCAA compared to the NBA.
To make this process easier, we’d suggest making a list of all of your potential picks as you find them.
Step 2: Shop around
Now you have your list of picks, the next thing to do is shop around for odds. Different sportsbooks offer better value than others in certain areas. If there is an odd that genuinely looks like a mistake, the chances are it’ll be rectified later on, and you could find yourself with a positive cash out before the tip off.
Some of the picks you find on stat websites will have low odds, the stats come into play when the sportsbooks price up the selections and they’ll know if Player X is likely to shoot threes. But there is still an opportunity to spot mistakes.
It’s also worth looking at some tipsters on platforms such as Reddit and X, there are plenty of value spotters around if you don’t fancy doing the work yourself.
Step 3: Make your parlay
At this stage you should have a few picks with decent odds. Now here comes the fun part. Add them to a parlay and see what odds the sportsbook offers. There is an element of shopping around here too, as different sportsbooks offer different parlay odds.
If you want to take the excitement of March Madness to the next level, you should also look into March Madness live betting alternatives.
Pros and Cons of March Madness Parlays
Pros:
- Lots of games to choose from
- Higher odds than singles
- Low risk for high reward
- Research is rewarded
Cons:
- Higher risk than a single bet
- March Madness can be unpredictable at times
- Usually involves betting on games you’re not watching
The fun of March Madness parlays and the vast amount of opportunities to win ultimately outweighs the cons. Getting involved with March Madness 2024 parlays is something we intend to do, and if you’re planning on betting, then you should give it a try too.
Always take care when betting, no matter what the event or type of bet is. That is the most important message to take. Betting on sports can be incredible fun, don’t let it turn sour, when the fun stops, you stop as well.
Best of luck with all of your March Madness 2024 parlays and be sure to send us your slips over on X @Gruelingtruth.
FAQ
Where can I place 2024 March Madness parlays?
There are a number of legal sportsbooks in the US that will be offering March Madness parlay betting. Some of our favorites include: BetMGM, Caesars Sportsbook, FanDuel and DraftKings.
When can I start placing March Madness parlays?
The March Madness bracket is revealed on the 17th of March, from then you will be able to start picking parlays and wagering money.
What is a March Madness same game parlay?
A March Madness same game parlay is a bet that has multiple different odds from the same game combined into one big bet.
