March Madness is one of the biggest sports betting events of the year. Known for upsets and Cinderella stories, the NCAA Tournament is also one of the most profitable times of the year for professional gamblers. With more than three weeks between the First Four and the National Championship Game, the biggest challenge for most college basketball fans will be managing their sports betting bankroll during March Madness. Below, we’ll break down how to build a sports betting bankroll for March Madness and manage your account balance all the way through the Final Four.
How To Boost Your Sports Betting Bankroll at the Best March Madness Betting Websites
College basketball fans that want to gamble on March Madness can claim sports betting bonuses from multiple sportsbooks to boost their bankroll for the Big Dance.
The best March Madness betting websites are giving away free bets and bonus cash ahead of the NCAA Tournament, along with NCAA Tournament Bracket contests with up to $250,000 in cash prizes.
Basketball fans can also benefit from exclusive March Madness betting promotions, including $100 overtime insurance and bracket buster insurance that can help them reduce their overall risk and increase their profits during the NCAA Tournament.
Below, you’ll find up to $6,375 in betting bonuses for the NCAA Tournament at the best March Madness betting sites.
- BetOnline – $1,000 Sports Betting Bonus + 2 Free Bets for March Madness
- XBet – $500 in Free College Basketball Bets for the NCAA Tournament
- MyBookie – $1,000 Sportsbook Bonus to Bet on March Madness
- BetUS – $3,125 in Free Bets for March Madness Games
- Bovada – $750 Bitcoin Betting Bonus for the 2022 NCAA Tournament
Does March Madness Betting Require A Big Bankroll?
Similar to the stock market, sports bettors must risk money in hopes of earning a return on their investment. The amount of money that you can win is directly related to the value of your wager.
Depending on your goals, sports betting does not require a big bankroll to get started. Many sports bettors start out small when learning the ropes. Over time, as their confidence grows, many sports fans aim to find a way to generate an income from betting or to bet on sports for a living entirely. To do so, bettors will need to grow their bankroll and increase their bet amounts in order to reach their goals.
This is where bankroll management comes into play.
Whether you’re a recreational gambler or a serious sports bettor, bankroll management helps to reduce your overall risk and earn a profit over the long run.
How to Build a Sports Betting Bankroll for March Madness
In 2024, building a sports betting bankroll is easier than ever before. Basketball fans can boost their bankroll for March Madness by cashing in on sports betting bonuses and free college basketball bets.
Most sportsbooks will match your first deposit when signing up. This effectively doubles your bankroll and allows bettors to instantly start with more money than their original deposit.
Instead of depositing all of your funds in one place, savvy bettors can register for an account with more than one sportsbook and claim multiple bonus offers, instantly doubling their account balance for March Madness.
This also gives college basketball fans the ability to take advantage of the best March Madness odds for each game.
For example, if you want to bankroll your sports betting account with $6,500 for March Madness, can register for an account at BetOnline, MyBookie, and BetUS and receive up to $5,125 in betting bonuses, plus up to three free bets for the NCAA Tournament.
Below, we’ll uncover how to build a March Madness betting bankroll that will last through the NCAA Tournament.
- Sign up for more than one sportsbook
- Claim free bets and the biggest sports betting bonuses
- Bet responsibly by managing your sports betting bankroll
Sports Betting Bankroll Management for March Madness
Every college basketball fan sets out to make winning bets but few manage their bankroll with enough discipline to earn a long-term profit.
While the madness begins in March, the Final Four and National Championship Game are played at the beginning of April. College basketball fans that are serious about earning a profit have to manage their bankroll from the first round of the NCAA Tournament all the way through the Final Four.
Below, we’ll break down the basics of bankroll management and give bettors an edge on the sportsbooks by giving away savvy bankroll management strategies, tips, and more.
What Is Bankroll Management in Sports Betting?
Bankroll management is the practice of gambling responsibly in order to earn a consistent profit and weather the ebbs and flows of betting on sports.
Sharp bettors use sound bankroll management techniques to reduce their risk, stabilize their account balance, and earn long-term profits while sports betting.
Why Is Bankroll Management Important When Betting on Sports?
When betting on sports, bankroll management is vital for long-term success. That’s because bettors have to beat the sportsbooks, which have a house edge on every bet.
Even at the best online sportsbooks in the US, there are already implied profits worked into the original game lines.
The cut or profit margin that a sportsbook collects for accepting a bet is called the juice or vig. The house edge at most sports betting sites is around 4.55 percent. Even the best offshore sportsbooks offer college basketball point spreads at -110 odds, which means that bettors have to win 52.4 percent of their bets just to break-even.
To put this into perspective, even professional sports bettors rarely sustain a winning percentage of higher than 55 percent.
This means that you can expect to lose almost half of your wagers and still earn a considerable profit, which makes managing your account balance one of the secrets to success when betting on sports.
What Are Units in Sports Betting?
Since every person has a different bankroll and tolerance for risk, sports bets are often broken down into units instead of purely dollars and cents.
When discussing sports bets, the term “unit” is used to describe the dollar value of a standard wager. The value of a unit is unique to each bettor, depending on their bankroll, risk tolerance, and more.
How Much Should You Be Betting on March Madness Games?
Sports betting is notoriously difficult, even for the sharpest professional gamblers.
Betting involves investing in the performance of players and sports teams, which are often subject to injuries, travel, streaks, and other factors that can make it hard to predict the outcome of events.
No matter the size of your bankroll, sports bettors should aim to limit their wagers to between one percent and five percent of their total account balance.
Sports Betting Bankroll Management Strategies for March Madness
When betting on the NCAA Tournament, managing your betting bankroll is one of keys to earning a profit during the madness in March. The 2022 NCAA Tournament features 68 teams and 67 total games after including the First Four March Madness play-in games.
For sharp bettors, there are plenty of opportunities to earn a profit. While some sports fans bet the same amount on every game, others vary their wagers based on their confidence level and other criteria.
Below, we’ll break down a few bankroll management strategies and how to use them successfully during March Madness.
Flat Betting Model
No matter whether you’re winning or losing, a flat sports betting model involves sticking to a standard bet amount. After setting your sports betting unit size, bettors wager exactly one unit on every bet. However, the flat sports betting model does not take into account your confidence level, the odds of winning and losing, or your account balance.
The flat betting model can also be deployed in two ways:
- To Win Method; &
- Risk Method
To Win Method
When using the “to win” method, bettors account for the vig or juice by wagering enough to win one unit.
When betting on favorites, this means adding some value to your standardized unit in order to win one full unit. Similarly, when selecting an underdog to win, bettors can risk a lower amount in order to win one unit.
When using the risk method, bettors do not have to account for the vigorish when making their selections. Instead, they stick to the exact same unit size for each bet.
When betting on favorites, this means that bettors will win less than one unit on a winning wager. On the other hand, betting on an underdog and winning will return more than one unit.
Percentage Sports Betting Model
Similar to the flat betting model, the percentage model for sports betting restricts the unit size of each wager to a certain percentage of your total bankroll. Using this model, a bettor’s wager increases when they are profitable and decreases when they are losing bets.
When betting with the percentage-based model, the number of units available in your sports betting account remains the same. This makes the model a slightly riskier strategy than the flat betting model but allows profitable bettors to increase their return on investment at a higher rate over time..
Confidence Sports Betting Model
Unlike the first two sports betting strategies that we’ve discussed, the confidence betting model involves varying the amount of your wager based on your level of certainty. When using this model, sports bettors can wager more or less than one unit based on their confidence level.
Bettors can use this betting model to their advantage by increasing the size of their wagers when they are confident that a bet will win. They can also increase the volume of their wagers by still taking action on certain markets and betting less than one unit when they are less confident.
Kelly Criterion Sports Betting Model
Similar to the confidence betting model, the Kelly Criterion sports betting model adds another variable into the equation: win/loss probability. Instead of basing the value of your wagers on your confidence level, the Kelly Criterion method attempts to determine the optimal size for each individual bet.
Also known as the scientific gambling method, it attempts to discover the exact winning percentage for each wager and uses that number to assign a bet amount based on the percentage of your bankroll.
The Kelly bet size is found by maximizing the expected value of the logari
Kelly Criterion Formula: f = p – q/b = p + p-1/b
- f is the percentage of the current bankroll to wager.
- p is the probability of a win
- q is the probability of a loss
- b is the proportion of the bet gained with a win
Kelly Criterion Formula in easy to understand terms:
wager = win probability – loss probability/proportion of bet gained with win = win probability + win probability -1/proportion of bet gained with win
Tips For Managing Your Sports Betting Bankroll for the NCAA Tournament
For recreational gamblers, managing a sports betting bankroll can be a difficult task. In order for basketball fans to avoid the highs and lows of March Madness betting, it is important to bet responsibly.
Below, we’ll break down a few bankroll management tips that can help college basketball fans earn a profit when betting on the NCAA Tournament.
💸 Only Risk What You Can Afford to Lose
Betting on sports is supposed to be fun. Having some skin in the game can make it more exciting and engaging to watch the action unfold. However, it is easy to let things get out of hand, especially when bettors are convinced that one side is a “lock” to beat another team.
When betting on March Madness, college basketball fans should always remember to only risk what they can afford to lose
This is the most simple tip to adhere to when gambling on sports but is often overlooked.
💰 Think of Bets in Terms of Units
Most gamblers are most concerned with the dollar value of their account balance.
While the majority of sports fans want to risk very little and win a lot of cash, breaking down the value of your account in terms of units can offer a different perspective and lead to better decision making over time.
Thinking of bets in units rather than dollars and cents can also help gamblers remain disciplined and add some stability to their account balance.
📊 Set Units to Between 1% and 5% of Total Bankroll
Typically, sports fans should aim to set their unit size to between 1% and 5% of their total bankroll. Setting a unit size between 1-5 percent allows bettors to weather the highs and lows of betting on sports, adding some stability to their account balance. This can help them endure losing streaks and remain profitable in the long run.
🏀 Remain Disciplined to Avoid Too Many Highs and Lows
It is important for bettors to stick with their sports betting strategy during March Madness. While it might be daunting to overcome a few losses, chasing profits can ultimately do more harm to your account balance.
For a quick review of our sports betting bankroll management tips, check out the chart below.
|💸 Only risk what you can afford to lose
|💰 Think of bets in terms of units
|📊 Set units to between 1% and 5% of total bankroll
|🏀 Remain disciplined to avoid too many highs and lows
How to Maximize Your Sports Betting Bankroll For March Madness
Now that you understand how to manage your sports betting bankroll, we’ll focus on how to increase your profits during the NCAA Tournament. With more than three weeks of March Madness games to bet on, gamblers have several opportunities to turn their basketball knowledge into cold hard cash.
Next, we’ll uncover how to maximize your sports betting bankroll and increase your profits when gambling on March Madness.
🎰 Sign up to more than one sportsbook
In order to maximize your profits during March Madness, it’s important to have a sports betting account with at least two online gambling sites. Signing up to more than one sportsbook gives college basketball fans two main advantages. It allows bettors to spread their bankroll between different sites, claim more bonus cash, and capitalize on exclusive March Madness betting offers. Bettors can also use their sports betting accounts to compare March Madness odds between the top sportsbooks and get the best March Madness odds for all of the NCAA Tournament games.
💰 Claim the biggest sports betting bonuses
In order to boost your bankroll for March Madness, it’s important to claim the maximum sports betting bonus available at your favorite betting site. Most sportsbooks will offer a betting bonus, up to a certain amount of money, just for signing up and making a deposit. Spreading your bankroll across different sites and claiming the biggest sports betting bonuses is an easy way to start in the green and earn a profit during the Big Dance.
🎲 Shop for the best March Madness odds
Signing up to more than one sportsbook also allows sharp bettors to shop for the best March Madness betting odds. Bettors can compare college basketball point spreads from the best March Madness betting sites to ensure that they are getting the best odds during the NCAA Tournament. While getting an additional +/- 0.5 on a point spread or +15 on a moneyline bet might not seem like a lot, these small efficiencies can add up and lead to increased profits over time.
⛹ Take advantage of same-game parlays and player props
In addition to March Madness game lines, the best NCAA Tournament betting sites offer a wide variety of prop bets and player props for the Big Dance. Sharp bettors can capitalize on softer odds for player props and other college basketball props, allowing them to increase their betting volume and profits all the way through to the Final Four.
📈 Profit from free bets, odds boosts, and other sports betting bonuses
While most online sportsbooks in the US offer welcome bonuses to new users that sign up, the best March Madness betting websites also give away free bets, odds boosts, and other sports betting offers during the NCAA Tournament. For example, at BetOnline, college basketball fans can claim a free player props bet and a free live bet during the NCAA Tournament. BetOnline also offers overtime insurance and bracket buster insurance, which gives bettors their money back if a top-three seed loses outright.
To review how to maximize your sports betting bankroll for March Madness, check out our summary below.
|🎰 Sign up to more than one sportsbook
|💰 Claim the biggest sports betting bonus offers
|🎲 Shop for the best NCAA Tournament odds
|🏀 Cash in on same-game parlays and player props
|📈 Profit from free bets, odds boosts, and other sports betting bonuses
Tracking Your Sports Betting Results
No matter how you decide to bet your bankroll during March Madness, it is important to track your results.
Some bettors may excel in certain sports, in certain betting markets or at particular times throughout the calendar year. Sharp bettors can use this information to their advantage to increase the size or frequency of their wagers and focus their attention on certain markets that are actually earning them a profit.
Whether you keep a detailed spreadsheet or use sports betting apps to track your performance, recording your results will help you identify where and how you can improve your sports betting strategies, allowing you to increase your return on investment over time.
How Bankroll Management Can Help You Win Real Money During March Madness
Properly managing your sports betting bankroll can turn the tables and give you an edge on the sportsbooks. While bettors need to practice some self-control, sticking to a profitable sports betting strategy can pay off in the long run. Using a disciplined approach, college basketball bettors will be able to weather the highs and lows of March Madness, predict NCAA Tournament upsets, and cash in on bracket busting underdogs.
At the best March Madness betting sites, college basketball fans can take advantage of free bets, sports betting bonuses, and exclusive NCAA Tournament betting promotions to boost their bankroll and minimize their overall risk.
Signing up to multiple online sportsbooks also gives sports bettors the opportunity to maximize their bonus money, shop for the best March Madness betting lines, and cash in on the best college basketball odds. These small efficiencies can add up over time and help bettors minimize the house edge and maximize their profits when betting on March Madness games.
With March Madness right around the corner, BetOnline is giving away three free bets for the NCAA Tournament. Members can receive a free player props bet and a free live bet for March Madness worth up to $25 each, along with money-back insurance on overtime games and upsets. The sportsbook also features a mobile betting offer with matched free bet of up to $50 on your first bet using a smartphone or tablet.
To boost your bankroll and get free college basketball bets for March Madness, sign up to BetOnline using the button below.