March Madness National Title Odds Report, Trends: Everything You Need To Know
March Madness odds aren't at the forefront of public awareness as the NFL playoffs play out. But it's been an interesting few months of shuffling in odds to win the NCAA Tournament.
Defending national champion UConn and Duke opened as co-favorites at BetMGM. But for several weeks now, UConn has stood alone atop the college basketball national championship odds board.
Here's everything you need to know about the 2023-24 March Madness odds market: action, movement and betting trends. Check back regularly for updates, as bookmakers provide their insights on NCAA Tournament futures odds. Looking for more basketball picks? Check out our NBA odds. And use our BetMGM bonus code to get the most out of your action.
March Madness Odds
UConn is clearly the class of the March Madness futures odds market. The Huskies are now +500 favorites to win the NCAA Tourney.
UConn recently wrapped up a 14-game SU spree before finally cooling off in a contest at Creighton. The Huskies got hammered 85-66 as 2.5-point road favorites. But they bounced back with a 78-54 home shellacking of Villanova.
At 25-3 SU (17-11 ATS), UConn isn't lacking for backers at the championship betting window.
"We can’t stop writing tickets on UConn at the moment. They’ve looked mighty impressive and bettors have taken notice," BetMGM trader Seamus Magee said. "I think UConn this year might be better than it was last year. The Huskies are deep and have guys all over the roster who can hit shots."
When NCAA Tournament odds first posted in April, UConn was the +1200 favorite.
As March Madness approaches, Houston has made its way to the top of the AP rankings. The Cougars are No. 1, with Purdue No. 2 and UConn No. 3.
But as noted above, the Huskies remain BetMGM's favorite to win the NCAA Tournament, at +500. Purdue is +700, followed by Houston at +750.
BetMGM trader Seamus Magee likes what the Cougars have going.
"I think Houston can hang with the best of them," Magee said. "The Cougars have really proven themselves among everyone in the Big 12, the toughest conference in the country. There's no doubt that this team has the talent and experience needed to make a run."
Houston is 10-1 SU in its last 11 games – a pair of five-game win streaks sandwiched around a more-than-respectable loss at Kansas.
Magee also noted a blueblood seeing an uptick in action.
"Kentucky has come across my desk a lot the past week, thanks to its performances against Ole Miss and Auburn," Magee said. "Lots of hometown money coming from Kentucky. It's hard to ignore how the Wildcats have played since that home loss to Gonzaga."
The 'Cats followed the 89-85 Feb. 10 setback to Gonzaga by topping Ole Miss 75-63. Then Kentucky traveled to face a solid Auburn team – the Tigers are +1800 to win the national title – and the Wildcats notched a 70-59 victory as 8.5-point underdogs.
John Calipari's squad then lost on a buzzer-beater 75-74 at LSU. But the Wildcats (19-8 SU/16-11 ATS) rebounded with a high-quality home rout, hammering Alabama 117-95.
Kentucky is taking the most tickets in BetMGM's March Madness odds market and is No. 2 in money, behind only UConn. The Wildcats can currently be had for +2200, notably longer than April's opening +1400, but just shy of the +2500 price prior to the blowout of 'Bama.
Kentucky is BetMGM's largest liability in the NCAA Tournament odds market.
Ticket Takers and Money Makers
As noted above, in BetMGM's mobile/online betting nationally, Kentucky is No. 1 in ticket count. UConn is No. 2, followed closely by Kansas (+2000) and Purdue, the +700 second choice to win the championship.
Also as noted above, UConn is taking the most money at BetMGM and Kentucky is No. 2. Kansas and Purdue are in a dead heat for the third-most money.
Magee said BetMGM customers are rooting mostly for Kentucky, UConn, Kansas, Purdue and Arizona (+1000). So who would the book like to see come out on top in the March Madness odds market?
"Houston, Duke, Tennessee, Auburn and Marquette. We wouldn't mind seeing North Carolina, either," Magee said, while reminding that the bulk of championship futures money hasn't even been wagered yet. "All this will surely change once outright betting really gets going in early March."
Houston is the +750 third choice at BetMGM. Tennessee is the +1300 fifth choice, Auburn the +1800 co-sixth choice, and Duke and Marquette are both +2500. North Carolina is +1800.