March Madness is second only to the Super Bowl in terms of the most heavily bet annual sporting events.
According to casino.org, an estimated $9 billion is wagered on the NCAA Tournament in America alone each year, and a sizable amount of this action comes from March Madness betting pools.
Because so many people place bets on games through unregulated channels in the form of office pools or even illegal bookies, it’s difficult to estimate just how much is spent on March Madness bets in total.
People freak out for this tournament because it offers lots of upsets and drama. More importantly, March Madness features some of the most exciting gambling action on the planet.
Top 3 Ways People Bet on March Madness
Bet on the Champions
Most of the people start with this classic futures bet. Betting on the champion is always exciting for a number of reasons. The first reason is that the odds of any team out there, including the favorites are quite solid. It creates a good opportunity to make a lot of money with just a tiny bet.
Bet on the Final Four
The format of March Madness makes any team a possibility. Each round is single game elimination if you are concerned about that, you can always try the Final Four option.
For a starter, the odds are still solid so you won’t have to put up a lot of money to get a good return. At the same time, each team has a much bigger chance of making the Final Four as opposed to winning March Madness.
Fill Out a Bracket
This is a rather unconventional approach, but one that shouldn’t be underestimated. There are the different kinds of bets on March Madness the first is the simple bracket pool. This is where a group of friends, co-workers, family, or strangers each submit a bracket.
The entry fee can be as little as a $1 or as high as people are willing to go. Some pools give more points to upset picks, but in the end whoever has the most points earns a high share of the pooled entry fee money.
Bracket pools are the most common form of betting March Madness, but offer lowest amount of money per person. A lot of people participate (possibly as high as 10 percent of the US population), but not for high stakes.
Only 3 out of 5 people who filled out a bracket said they were knowledgeable about college hoops, and less than 10 percent of people pick brackets based on experts' rest pick on their intuition.
Final Words
The entertainment during March Madness 2018 is pretty much guaranteed, and it would be even better if you manage to make some money.
As you already see, there are ample amount of opportunities to boost your bank balance with a couple of smart wagers here and there. You will see more options as the tournament progresses.
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