What College Sports Fans Should Know about Betting on NCAA Games
Last Updated on November 1, 2024
NCAA games have really come a long way since the first NCAA Division I men’s tournament was organized in the 1930s. What seemingly began as a niche competition now has millions upon millions of fans following. Statista recently hinted that almost ten million fans followed the 2024 edition of the NCAA Division I Men’s Basketball Championship on TV in the US alone.
And maybe you are one of them and are considering how to show more loyalty, either through betting or any other way. You no longer have to worry anymore as you have just arrived in the right place. This article will help you understand NCAA betting tips and strategies, uncovering insights that will help you get the most fun.
The popularity of NCAA betting
Anyone who has been keenly following America’s sports betting industry will actually agree that the figures have been increasing. For example, the American Gaming Association highlighted that the total bet amount on all sports exceeded $121 billion in 2023, a rise of about 30% from the previous year.
One of the factors fueling this staggering growth is that more states are legalizing wagering on sports. Furthermore, there has never been a time in history when accessing sites like the best offshore sportsbooks was easier and more convenient than now. In fact, a survey conducted just last year indicated that roughly 31 million fans intended to bet on March Madness in online sportsbooks.
In this year alone, the American Gaming Association estimated that fans would bet about $2.7 billion on the NCAA men’s and women’s championships through reputable betting platforms. Can you imagine that even David Forman, the American Gaming Association vice president of research, acknowledged that March Madness was actually the biggest individual event for fans to bet across the year?
Is it possible to bet on your team?
Of all the fifty states in the US, only 38 have legalized sports betting. And even if you live in a state where sports wagering is legal, you can as well be blocked from placing bets on your favorite teams or players.
In fact, there are some states, like Connecticut, Rhode Island and Massachusetts, that prohibit placing bets on their own college teams. But you can wager on tournaments.
In other states like Maryland and Ohio, you can only bet on the outcome of college games and not on the performance of specific players. From March 2024, fans were not able to place proposition bets on college players in these states.
And on top of that, there have been previous concerns raised by NCAA, claiming that player-specific bets could lead to problems such as mental health issues. It also added that these bets could encourage players to vary their play, affecting bets that depend on stats.
More states now allow betting
The win by the University of Connecticut during the men’s tournament last year came with a lot of changes in this industry – about six states welcomed or expanded sports wagering.
For example, Kentucky opened up to both in-person and online sports betting in September 2023, which coincided with the start of the NFL season. Nebraska did the same about three months before Kentucky, although mobile wagers are still illegal.
In December 2023, the Seminole Tribe of Florida won a court case that would see it take sports bets in addition to casino gambles. Vermont has also not been left behind. Just this year, in January, the state launched online sports betting. In North Carolina – where you could only bet on sports at three tribal casinos – players can now wager statewide.
Common terms you need to know
The juice/vig
The vig is the amount of money a platform charges for taking and handling wagers, and it can vary based on the odds. For example, if the odds of -110 on a certain platform have a 10% vig and you bet $110 and win $100, the platform will take $10. And since platforms charge vigorish differently, you may want to shop for the lowest vig, especially when wagering on money lines.
Moneyline bets
Money lines are quite simple, as you just need to select the team you believe will win. If a team is more likely to win, it will have lower risk and returns; if it is expected to lose, the risk will be higher, resulting in higher returns.
Point spreads
This basically refers to the number of points you think teams may win or lose. However, the platform sets the points from which you will choose. That is actually the good side of this betting type, as you can bet on any team, even the losing one.
Over/under betting
Over/under betting differs slightly from spreads because it focuses on the total points. You will encounter the combined points between two teams and will need to determine whether the outcome will be an over or an under.
- Over means the outcome exceeds the estimated total
- Under means the opposite is true
Parting words
Well, even though exhausting everything regarding college betting may not be possible in one sitting, we have gathered some foundational tips for you. And since regulations across different states keep changing, you may want to always keep checking so you do not miss out on any important updates.
