How to Bet on Basketball for March Madness
When it comes to college basketball, March has always been the most thrilling time of year. March Madness is taking over Las Vegas, and sports fans are looking forward to placing their bets for this year’s NCAA Tournament. If you’re heading to Sin City to partake in some of the March Madness excitement, we’re covering how to bet on basketball and where you can cheer on your favorite teams in Downtown Las Vegas.
The Point Spread Bet
Betting on the spread is easily the most popular way to bet on basketball. For each game, oddsmakers equalize the teams with a point spread to make it easier for bettors to place a wager on either team, rather than simply betting on who will win. Instead, you place a bet that a particular team will win by a specific number of points set by the oddsmakers.
The team expected to win, or the favorite team, is listed as being minus (-) for the point spread. The underdog team is listed as being plus (+) for the point spread. For example, Arizona is favored to win over Washington, so let’s say the spread is listed as Washington +5.5 and Arizona -5.5. If you bet on the underdog, Washington beats the spread by losing by 5 points or less, or winning the game outright. Likewise, Arizona beats the spread if they win by 6 points or more. If the favorite team wins by more points than the spread, this is called “covering” the spread.
Money Line Bets
Placing a money line bet means you’re making a straight bet on which team you think will win the game. However, teams are not always evenly matched, so you can’t expect the same payout for both teams. Because it’s riskier to bet on the underdog, your payout will always be more than if you bet on the favorite to win. These odds are represented by negative and positive numbers. For example:
In this case, Elon is the underdog at +280. This means if you bet $100, you will win $280, in addition to getting your original $100 back. Conversely, you would have to bet $340 on Northeastern to win $100. You don’t win as much because Northeastern is a less risky bet.
Totals (Over/Under) Bets
A totals bet, also known as the over/under, is another popular way to bet on basketball. Rather than betting on a particular team to either win or cover the spread, you’re betting that the total points scored during the game will either be over or under a number set by the oddsmakers.
Let’s say the over/under number for the Nebraska-Indiana game is 142. You can either bet that the combined total score of the two teams will go over 142, or stay under 142. Pay odds for over/under bets are typically -110, meaning you have to bet $11 to win $10 plus your original bet. It’s an easy wager to place, especially if you don’t know too much about sports betting, because there are really only two choices.
If you’re looking for a more lucrative and suspenseful betting option, parlays allow you to bet on multiple games on a single betting ticket. To play a parlay, you must select two or more wagers. The more outcomes you choose, the higher the potential payout if you win all the bets you selected. You could for example, bet on the Over in one game, and bet on a team to cover the spread in another game. This is what makes parlay betting fun, as you can make several different types of wagers by only risking a single bet.
Keep in mind that you must win ALL your chosen bets to get a payout, so it’s more difficult to win with more bets placed on that ticket. If you lose one bet, you lose the parlay. However, the pay odds are exponentially more with every wager! You could potentially turn a small amount of money into a big payout by winning all the bets on your parlay ticket.
How to Place Your Bets
In Las Vegas, sportsbooks make it easy to place your bets at the counter, using self-serve kiosks at the sportsbook, or making a wager through an online app. The William Hill Sportsbook at Downtown Grand Hotel & Casino offers all three options, so you can place your bet however you feel most comfortable.
When you get to the sportsbook, all available wagers will be on a display board with a designated rotation number. This number is universal across all sportsbooks and makes it easier for bettors to identify the specific bet they want to make. Rather than explaining to the ticket writer at the counter which bet you’d like to place, all you have to do is give them the rotation number, and they’ll know exactly which bet you want to make.
For example, if you want to bet on the Texas Tech point spread and the rotation number for Texas Tech is 540, you can tell the ticket writer, “I would like to bet 540 to win $100.” This means you are placing a bet that Texas Tech will cover the point spread in order for you to win $100.
“March Mania” Specials at Downtown Grand
On Thursday, March 19, 2020, and Friday, March 20, 2020, visit the William Hill Sportsbook at Downtown Grand for a chance to win $1,000,000 on a parlay card. We’ll also be offering food and drink specials every Thursday through Sunday during March Madness, so you can enjoy the hottest NCAA Tournament games without breaking the bank.
Some food specials include chicken fingers with fries and Wisconsin cheese curds for $5, a burger with fries for $8, and onion rings or fries for $4. You can also snag a bucket of 6 domestic beers for $30, or specialty Irish whiskey cocktails for $8. Get your snack on, grab a cold drink, and cheer for your March Madness teams at Downtown Grand in Downtown Las Vegas!