We have officially arrived at one of the greatest times of the sporting year. Every March, 68 college basketball teams come together with the dream of winning the national championship. This is March Madness.
With the prevalence of sports betting, you may be wondering just how to combine the two worlds. The good news is that there are a few simple tips to follow to help you get involved and take March Madness to a whole new level.
Bankroll Management
When it comes to March Madness betting, the single most important thing to learn is how to manage your money. Everyone goes on cold streaks from time to time, but properly managing your money will ensure that you weather those storms and still have something to bet with.
College basketball can get crazy, so bankroll management should be at the top of your list. Check out which games you want to wager on ahead of time. Know what you can devote to each game and stick to your guns. Don’t let your emotions dictate things or you’ll find yourself wagering more than you would otherwise have.
Remember the Mid-Majors
When betting on March Madness, it can be all too easy to go with the biggest names. After all, the top teams got to be the No. 1 seeds because of how great they are, right? Well, that’s part of it, but don’t sleep on the mid-major programs that aren’t traditional powerhouses.
Major conferences like the Big 12, ACC, Big Ten, SEC, etc. tend to garner all of the attention. But just last year, San Diego State from the Mountain West Conference made a run to the National Championship game. It can be hard finding that mid-major but just know that choosing the blue bloods won’t equate to an automatic deep run in the bracket.
Do Your Homework
There is a lot of luck involved in sports betting. It is important to remember that otherwise those with the most information would win the vast majority of the time. That said, having a lot of information is critical when it comes to making better decisions. The goal of sports betting is to win each wager and you do that by putting yourself in the most advantageous position possible.
Look at every possible angle before placing a bet. Check out records coming into the tournament, performance in conference tournaments, trends in terms of games versus teams of a similar type, etc. Once those avenues have been exhausted, you can be confident in your pick to a reasonable degree of certainty.
Check Out KenPom Ratings
The tournament earned the nickname March Madness for a reason. After all, we are just one year removed from a No. 16 seed upsetting a No. 1 seed (Fairleigh Dickinson over Purdue). There are only so many things that you can control.
KenPom ratings, however, are great for checking out the matchups. They use advanced stats like offensive and defensive efficiency, luck, strength of schedule, and tempo to paint the whole picture for a team. Looking at a team’s record gives a 10,000-foot view but doesn’t tell anything close to the whole story about their season.
For instance, nearly all national champions going back to 2002 have been in the top 20 in adjusted offensive efficiency while also being top 25 in adjusted defensive efficiency. Underdogs might be fun to bet on, but there’s a far more likely chance that your eventual national champion will come from KenPom rankings. It also narrows down the field exponentially, giving you much better odds of picking a winner.
