NCAA March Madness for men’s and women’s college basketball is unfolding for 2023! In addition to filling out their brackets, New York bettors will be able to get in on the action by researching the best March Madness odds and placing bets online with their favorite sportsbook.
Here’s everything New York bettors need to know about betting on the 2023 NCAA March Madness Men’s Basketball Championship.
Current 2023 NCAA March Madness Odds
To Reach Final Four
To Win National Championship
Where Can I Bet On March Madness 2023 Online In New York?
All of the nine New York sportsbooks feature men’s college basketball odds. Gaming operators feature varying markets, but all of them feature games to bet on and futures for conference champions and outright winners of the major tournament. There is less availability on betting markets for the 2023 Women’s NCAA Basketball Championship, but some sportsbooks provide odds to wager on.
- DraftKings Sportsbook is currently legal in most states where sports betting apps are legal, and it’s available to New York bettors as well.
- Current DraftKings NY bonus offer: New York bettors who deposit at least $5 into their accounts can get a bonus bet worth $50. DraftKings also offers a 20% deposit worth up to $1,000, meaning you’d have to deposit $5,000 to get the maximum match.
- Caesars Sportsbook operates in New York since sports betting apps went live. They have customized futures and allow for most games to be bet on for college basketball events taking place in New York.
- Current Caesars NY bonus offer: Caesars Sportsbook is offering first bet insurance of up to $1,000. Click here to claim your sign-up bonus.
- FanDuel Sportsbook is available in New York.
- Current FanDuel NY bonus offer: You can receive up to $200 No Sweat First Bet when you sign up with the sportsbook.
- BetMGM Sportsbook is available in several states and launched in New York on Jan. 17, 2022.
- Current BetMGM NY bonus offer: There is no current offer in New York, but BetMGM offers a first bet offer, which is up to $1,000 paid back in Bonus Bets in other states where the sportsbook is legal.
- BetRivers NY Sportsbook went live on January 8, 2022. It’s available in nearby states, New Jersey and Connecticut, as SugarHouse Sportsbook. Bettors can place wagers on events (games and futures) taking place in New York.
- Current BetRivers NY bonus offer: BetRivers NY will match your first deposit dollar-for-dollar up to $500. Claim your sign-up bonus here.
- PointsBet NY sportsbook launched near the end of January 2022 (specifically Jan. 24). Markets are limited with options for the overall outright winner and teams to reach the Final Four. Women’s basketball odds may not be available.
- Current PointsBet NY bonus offer: Get up to $250 in Second Chance Bet Credits when you sign up for PointsBet New York sportsbook.
Can I Bet On New York Teams During College Basketball Tournaments?
Unfortunately, the rules to bet on local teams in New York still apply after the regular season. So when Syracuse or St. John’s is playing in the ACC or Big East tournament, respectively, they cannot be wagered on. The same goes for if they make the NCAA tournament for the men’s or women’s championship. Other conferences affected include the America East, Atlantic-10, CAA, MAAC, NEC, and Patriot League.
Here is the full list of teams that cannot be bet on in New York:
- Albany Great Danes
- Army Black Knights
- Binghamton Bearcats
- Buffalo Bulls
- Canisius Golden Griffins
- Colgate Raiders
- Columbia Lions
- Cornell Big Red
- Fordham Rams
- Hofstra Pride
- Iona Gaels
- Long Island University Sharks
- Marist Red Foxes
- Manhattan Jaspers
- Niagara Purple Eagles
- Siena Saints
- Stony Brook Seawolves
- St. Bonaventure Bonnies
- St. Francis Terriers
- St. John’s Red Storm
- Syracuse Orange
- Wagner Seahawks
2023 March Madness Odds And Betting
Many of the bets you’re familiar with will be able to be placed leading up to and throughout The Big Dance.
2023 March Madness Bets On Individual Games
- Moneyline bets – Placing a moneyline bet during March Madness is simply picking which team you think will win the game in question. Teams with a – next to their odds is the favorite, while + odds signify the underdog.
- Point spread – With point spread bets, teams are either “getting” or “giving” points depending on who is favored. Let’s say you’re placing a point spread bet on Duke, and the line is -8.5. This means Duke has to win by nine or more points for you to win your wager. If Duke wins by 8 points or fewer or loses the game outright, you would lose your bet.
- Point totals – This type of bet is wagering on whether two teams will combine for more than or less than (over/under) a set number of points. If there is a total of 103.5, anything total score of 103 points or less would be a win for the under, while any total of 104 or higher would hit the over.
- Parlays – A parlay is when you combine two or more bets in a single bet slip. The reason for doing this is the odds are higher, and therefore the potential payout is greater than wagering on games individually. The downside, however, is all of your bets have to win for you to get the higher payout.
- For instance, let’s say you wanted to parlay bet Duke -8.5 and Purdue -7.5. If either team fails to cover the spread, you lose your wager.
- Some sportsbooks offer same-game or single-game parlays as well. You could build a parlay where you’re wagering on Gonzaga to win, Drew Timme to score more than 15.5 points, and Chet Holmgren to have less than 7.5 rebounds.
What Is A March Madness Futures Bet?
Futures bets are exactly what they sound like – wagers that bettors won’t know the outcome of until later in the season.
For March Madness 2023, the futures bets you can place center around who will win the tournament and who will make the Final Four. Remember, you can place these anytime during the season and throughout March Madness as well.
What Is A March Madness Prop Bet?
Prop bets are bets you can place that typically don’t have a direct outcome on a particular game. The amount and variety of March Madness prop bets will vary between each online sportsbook, but here are some examples. At this time, New York prohibits wagers on college player prop bets. However, here’s what to expect if that changes in the future:
- Player Props
- For March Madness player prop bets, you’re wagering on individual players and their performance throughout a game. These can be bets on the number of points a player scores, the number of rebounds a player has, or the number of three-point shots a player will make.
- Other Prop Bets
- Which team will win a specific bracket region
- Which conference is the winning team from
- If you place a bet on the winning team to be from the Big 10 conference, for example, it would cover all Big 10 teams (Purdue, Ohio State, Michigan, etc).
- How many number 1 seeds will make the Final Four
Strategies For 2023 March Madness Betting
While everyone loves a Cinderella story in the NCAA Tournament, betting on them to win the Big Dance is bad for your wallet.
- 64% of all College Basketball National Champions have been number 1 seeds.
- Since 2000, only two 2 seeds have won the championship.
- Since 2000, only three 3 seeds have won the national title.
- Since 2000, only one team has won the NCAA tournament that was not a top-3 seeded team (Connecticut in 2014 as a 7 seed)
Paying attention to the status of teams entering March Madness is important as well. Knowing if there are any injuries, player opt-outs, or how the team has been playing leading up to the tournament are all factors that can give you an edge.
Betting Odds For 2023 NCAA March Madness FAQs
Yes. New Yorkers can legally bet on March Madness as long as they aren’t wagering on in-state schools. While some of the legislation has been confusing, bettors can place wagers on events hosted in New York. Sportsbooks will offer different market options, so check multiple platforms to see what’s available.
Currently, for New York bettors, there are nine online sportsbooks where you can place 2023 March Madness bets. Popular platforms include DraftKings, Caesars Sportsbook, and FanDuel.
The legal gambling age in New York is 21.
Yes, live or in-game betting is legal for March Madness.
New Yorkers can place player prop bets as well as team prop bets.
Alabama is the current betting favorite to win 2023 March Madness.