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March Madness Betting Odds 2024: Latest Lines For The NCAA Basketball Tournament

Publish Date: 03/23/2023
Fact checked by: Mike Goodpaster

March Madness Betting Odds

The Grueling Truth is the home for the sports betting enthusiast, and we want to make sure you’re up to date with the latest and greatest sweet 16 betting odds available during the March Madness tournament. Apart from finding the best odds we’re also going to tell you why it’s important for you to know about them.

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Why Compare March Madness Odds?

A common question would be to ask why should we even compare March Madness odds? The main reason is because the provider who has the best odds today might not necessarily have the best odds tomorrow, or for another game you might want to bet on.

Even a small difference in odds percentage might have a huge impact on the outcome of your bet and how much you stand on winning back. You’ll also be surprised just how many different March Madness odds you can find for the same team or fixture between the different providers. You might also not be aware of sleeper picks for sweet 16 which we covered, make sure you have a read through that to have an advantageous edge.

How do Providers Determine Their March Madness Odds?

Whilst there’s a true science behind March Madness odds creation, mostly all US sports betting providers use the same standard formula so that the odds remain similar across the board. This is pretty much the same for every other sport odds and not just March Madness odds.

The main aim for a provider is to make the odds look attractive to you, the customer with the possibility of making some profits off your winnings. Makes sense so far, right? The provider calculates the realistic probability of the outcome and then subtracts a 5% margin as a means to safeguard their profits.

But Can I Actually Win?

As mentioned above, the provider would need to safeguard their profits in some way, they are a business after all. But that doesn’t mean that they’re trying to make you lose! If no one really ever won anything, the betting industry wouldn’t be here today, would it?

Why do March Madness Odds Differ From One Provider to The Next?

So if the providers and bookmakers use the same standard formula to calculate their March Madness betting odds, why do some odds fluctuate between others when compared? Well it’s important to keep in mind that the betting odds will change running up to the event or game. These odds might even change multiple times within an hour.

The main factor for these changes is anything that may influence the circumstances within the game, such as injuries for example. The betting provider is also trying to protect their exposure on each line to balance profits.

Sometimes you might come across some odds which are displayed in different formats. Essentially the numbers mean the same thing, the outcome of your winnings compared to your wager. The display format is usually down to personal preference. Here are some examples:

  • Decimal Odds – The most common & logical
  • Fractional Odds – A format usually used in Horse Racing
  • American Odds – The best basketball odds format

The odds will always produce the same winnings as they will be calculated on the same basis. It’s just the format that’s different. Make sure you use our odds calculator page to iron out any doubts you may have whilst browsing different March Madness odds.

Factors to Consider When Comparing March Madness Odds

The odds are pretty much the most important things to consider and to factor when determining the best March Madness betting odds. You might find plenty of march madness sweet 16 predictions for 2023 too. Don’t forget to do your team research by checking NCAA basketball news and your calculations beforehand so that the odds you choose will reflect your expected winnings accurately.

 March Madness Odds & Live Betting

A very valid and often overlooked factor is how to compare March Madness live betting and in-play betting odds. Live betting involves placing your bets during the event or as the game is in progress. Such odds values are calculated by factors which are happening live to determine the odds, which would most likely reflect the outcome.

The best advice we can give you is to plan ahead and act quickly when game play is paused or has stopped. Odds will usually stabilize a little bit more during a break or during a contested decision. You need to be absolutely sure of your selections as you need to act quick. You can also shop around for different odds when free throws are being taken or when there’s a break in the game.

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