March Madness is upon us and ahead of the biggest betting event of the year we spoke to the PointsBet trading team to bring some tips from the trading floor.
March Madness 2021 is, without a doubt, the biggest betting event that America has ever seen. The NCAA Tournament will take place in Indiana, which has legal sports betting and two of the top seeds – Illinois and Michigan – come from states which legalized online sports betting in the last year.
This means that more Americans than ever can watch the action and gamble from the comfort of their living room sofas, which is perfect for the all-action schedule of March Madness.
Ahead of the tip-off we spoke to PointsBet, who offer legal online betting in Indiana, Illinois and Michigan, as well as in New Jersey, Iowa and Colorado, to find out where the money is going and if the bets they have taken can reveal any clues as to who will win the NCAA Tournament.
If you don’t have a PointsBet account and are in one of the states listed the register using bonus code 150EXPERT to claim $150 in Free Bets when you bet just $20 on a March Madness game.
1. Who has been the best bet team to win March Madness? Maybe a top 3?
Charts below paint the best picture…Each represent top 10 teams by handle, bet count, and liabilities. As you can see, Gonzaga is the most bet and has the most stake. Michigan, Baylor and Illinois are other teams all in the top 5 of both bet count and handle.
2. Have you seen differences in the outright win market depending on state?
Gonzaga remains the most bet team in Colorado, Illinois and New Jersey. However, in other jurisdictions we definitely seen some variations on the most bet team. Bettors in Michigan are sticking with their hometown team, with the Wolverines taking the most bets to win in that state. Iowa residents are backing their local team as well, with the most bets to win outright in that state on the Iowa Hawkeyes. In Indiana, bettors are backing their neighbor state Illinois to win the NCAA tournament (Indiana numbers likely high on Illinois due to Illinois bettors not being able to bet on the Illini while in the state).
3. Who is the best bet team outside the top seeds?
Outside top 5 seeds, we’ve had a few big bets come in on #9 Missouri, including a $1k bet at +18000 and a $2k bet at +5000.
4. What opening game have you taken the most money on?
As far as first round games, Georgia Tech vs. Loyola Chicago has the highest stake currently, but bigger bets normally come in closer to tip.
5. What is the most unbalanced game – handle vs bets?
GT vs. COL… Georgetown is taking 61% of bets while 69% of handle is on Colorado. (ML)
6. What markets are people betting most – spreads, money line, totals, props, something else?
Moneyline seeing the most action currently.
7. Have parlays been popular for the opening slate of games?
Yes, we’ve seen clients parlaying some of the most heavily favored teams, including all of the No. 1 seeds in their first round matchups.
8. Any big liabilities you can share? A favorites parlay that is proving popular or any big single bets you are worried about?
Charts below show the top 10 teams by liabilities as well as notable bets.
9. What promotions are PointsBet running for the tournament?
The following offers are available to all customers during March Madness. Register for an account using the code 150EXPERT to receive a $150 Free Bet.