Betting on March Madness: All you need to know to join the action

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Betting on March Madness: All you need to know to join the action
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All the different ways to bet on the upcoming basketball tournament

Every team in the tournament is ranked from 1 to 68 based on their regular-season record. The first round of the tournament will see four of those 68 teams face off in the First Four to fill the last two spots in the final 64-team tournament bracket. That bracket is then divided into four regions of 16 teams each.

The 16 teams in each region are seeded from 1 to 16, based on the same ranking system used earlier. The first seed plays the last seed, the second seed plays the second-last seed and so on. March Madness is a single-knockout tournament, so if you lose, you go home. The last two teams standing will meet in the national championship game on April 3.is the simplest and most common way to get in on the action, so it’s great for beginner or recreational bettors. This is strictly a bet on who you think will win the game. In the example above, Gonzaga is the favourite to win, which you can tell by the minus sign beside the number 147. St. Mary’s is the underdog as shown by the plus sign .

The number next to the minus or plus sign determines the payout. You would need to bet $147 on Gonzaga to earn $100. If you bet on St. Mary’s, a $100 bet would earn you $124 profit.essentially levels the playing field between two teams. Like moneyline betting, the minus sign beside the number 2.5 indicates Gonzaga is the favourite to win, while the plus sign shows St. Mary’s as the underdog.

In the example above, Gonzaga is favoured to win by 2.5 points. To win a bet on Gonzaga, they must win the game by three or more points. If you bet on St. Mary’s, you win if they win by any margin or lose by two points or less., also known as Over/Under, is a bet on whether the game’s final score will be Over or Under the number given. The number listed is accompanied by a price, often set at -110 for both the Over and Under.

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