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Offshore sites and illegal March Madness betting
March Madness translates into big business for legal sportsbooks, and the same holds true in the black market for illegal gambling. Despite the massive progress that has taken place on the legality front in a number of states, many of them do not permit betting on in-state college teams.
Offshore sites operate under what they purport to be a veil of legal uncertainty when they actually are illegal under US law. They offer many of the markets and bets that you’ll find at legal sportsbooks, and they might even offer things that you can’t wager on in the US. Included on that list are specific props on college athletes or wagers having to do with matters that happen completely off the court.
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In legal states, there are protections in place for consumers, including on any funds they deposit.
During March Madness, both legal and illicit bookmakers see a significant increase in revenue. Many states have made significant progress toward legalizing online gambling, but there are still companies operating outside of US jurisdiction that are willing to accept your patronage.
March Madness betting history
In 1939, the NCAA held its inaugural national championship basketball tournament. Eight teams competed in the competition, with Oregon beating Ohio State in the finals to win the championship trophy. The yearly event has expanded tremendously over the years. In addition, the scope of the discipline has grown significantly during the past several decades.
The number of teams increased from 32 to 64 in 1985. In 2001, an opening-round game was introduced to the tournament for the first time in its history. What started as a simple idea has blossomed into the First Four. In all, there are 68 teams invited to the dance, including the eight that must first pass the play-in round.
The tournament’s popularity has risen as it has expanded in size. Since the 1980s, March Madness has become a major feature of the yearly sports calendar and a made-for-TV event. In the current legal climate, bracket contests are essentially a rite of passage into spring, and betting volume continues to soar.
According to the American Gaming Association, approximately 50 million Americans bet on betting sites and this number is expected to spend $10 billion in legal and illicit ways throughout the 2022 event. The numbers are expected to become significantly larger when more legal jurisdictions join the fray.
The futures market makes it possible to bet on the NCAA Men’s Basketball Tournament at any time. The winner of the next national championship is the most popular attraction, but there are other methods to gamble. When the brackets are finalized, odds and lines will be posted for each game.
Live betting on March Madness
In March Madness, there are several methods to gamble on hoops. When a game begins, the betting doesn’t end. In the last several years, live betting has gone from being a novelty to a necessity at sportsbooks. A fast-paced market where you can respond to what’s going on in real-time.
It is possible to hedge your initial position if a game breaks in a different direction than expected, or you may just place a bet on its own.
The following may be included in the offerings:
- Standard pregame bets have had their odds and lines updated.
- The first or second-half winners and totals.
- Prop situations of all kinds.
If you enjoy watching a game unfold, live betting can be an interesting option for you. It may not be ideal for people who want to put their bets and then sit back and watch the game.
March Madness prop betting
Another common gambling option is on the outcomes of sporting events or “probability” betting. Things that may or may not happen during or at the end of a competition, are the focus of these wagers, which are called props. Depending on your state, you may be prohibited from using college props, so be sure to check beforehand.
To give you an idea of the kinds of props you could see:
- Various spreads and totals.
- The margin of victory in terms of points.
- Half-game or game-wide team performance.
It can be difficult to locate college athlete props because they aren’t as widely available as those for NBA games. The available props may be found by clicking on the individual games in the game listings at online sportsbooks.