Written by Thomas | Saturday, March 19th, 2011

March Madness, with the sheer number of games played, is the most bet on event in American sports.

In Las Vegas, $80-$90 million will be gambled over the three-week tournament.  Another estimated $2.5 – $7 billion will be wagered on the games illegally either through an online sportsbook or local bookie.

If you are one of the many sports bettors out there betting on this years’ tournament, you must have a few profitable strategies to increase your odds on betting March Madness.

Heavy Line Movement

During the tournament, you want to view the pointspreads as soon as they are posted.  This is because you want to watch how the lines move prior to tip off of each game.

The oddmakers move the pointspreads for multiple reasons.  Though the main reason is to even the money on each possible outcome, it isn’t just any money that makes the lines jump.  It is the sharp money.

An example of this is the opening round match-up between #2 Villanova and #15 Robert Morris in the 2009 tournament.  Most sportsbooks opened the pointspread at 20.5.  An hour later is had moved to 19, and, by game time, it moved a solid four points to 16.5.

Robert Morris led by six-points at halftime and lost the game in overtime by three-points.

The sportbooks had this game wrong and the sharp bettors knew it and unloaded on it.  Because of the sharp bettors, the line plummeted until tip off.

It is this kind of line movement that should make you take a look at this match-up a little closer.

Compare Like Seeded Match-ups

Comparing the pointspread of each like seeded match-up is another very powerful strategy – especially during the first round.

You will see that the oddmakers often set comparable pointspreads for each of the same seeded match-ups in the first round.  However, there are often times when you will see an outlier.  While many #5 and #12 match-ups might have a pointspread of 8-10-points, you might find one that is only 4.5.

For some reason, Vegas believes this team will be able to keep the game close.  If you don’t expect either of the teams to go far in your bracket, you might want to pick the upset.  It could also be a nice moneyline play with a nice payout.

Forget the NCAA Tournament – Bet the NIT

The NCAA Men’s Basketball Tournament isn’t the only tournament going on during this time of year.  The NIT, which crowned the national championship years ago, is also being played and often has many more profitable betting opportunities than the Big Dance.

The reason for this is simple – less people bet on it, so the sportsbooks focus less attention to it.  Because of this, you can often find favorable pointspreads and match-ups.

Also, during the NIT, all games are played at the highest seeded team’s home court.  As most college hoops bettors know, home court is huge in college basketball.

Another reason you find favorable match-ups is that there are teams that were snubbed by the NCAA Tournament and others that played well down the stretch, but not well enough to make the tournament.

The teams that were snubbed, might not be as pumped for a game against a lowly opponent that would have had no chance in the Big Dance whether they were given a bid or not.  And, for that same reason, the team that has been on fire recently could be trying to make a statement in the NIT and are happy to be still playing ball.

While these are some excellent betting strategies for March Madness, there are others that will take your handicapping to the next level.  The Sports Betting Academy offers many more free tips on betting sports including a full March Madness betting tutorial.

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