March Madness Parlay Bets

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There are numerous events that take over the sports world as they are happening.

And if the sports world is captivated, we also know that the sports betting space is not far behind. If the Super Bowl is the biggest event in all sports, then it is safe to say that March Madness is a close second.

With ample games stuffed into a small time frame on a daily basis, sports bettors are flying high and betting tickets are printed at a rapid pace.

Many of those tickets are parlay bets. Parlays are a terrific way to wager a small sum of money and cash in on a lucrative profit.

Building your parlay during March Madness is a different animal. There is a strategy to use almost to a science. You must do your research and be on your game due to all the variance that comes with the Big Dance.

Blow-outs, upset specials, and anything in between, you must be ready for anything when making parlay bets during the March Madness tournament.

In this article, I will discuss all-things parlay betting during the Big Dance.

How To Place A Parlay Bet During March Madness

If you want to place a March Madness parlay, the process is easy. Just like placing any other straight wager or parlay bet.

Below, I will list the process in steps:

  • Visit the sportsbook of your choice and activate the bonus offer.
  • Next, click on the drop-down menu and then click on the March Madness tab. Since this is such a huge event, there will be March Madness tabes all over the place. You won’t be able to miss it if you tried.
  • Now find the game you want to bet on and select at least two options.
  • Once your bet selections appear in your bet slip, enter the amount you want to stake, and be sure to click on the parlay betting option.
  • Finally, check over the bet slip and make sure it is the way you want it, and click the “Submit Bet” button to complete the process.

March Madness Parlay Builder

To simplify the March Madness parlay building process, some sportsbooks might offer a parlay builder.

A parlay builder is a tool that organizes all of your bet selections into specific categories so you don’t need to search from game to game to construct your parlay.

To use the parlay builder, all you have to do is click on the parlay builder or bet builder tab. Then you will find your categories that may include moneylines, player props, totals, and many more all in one place.

Remember, not all sportsbooks have parlay builders. But may do.

How To Pick The Best March Madness Parlay Betting Sites

Picking the best parlay betting site is a matter of personal preference, but here are some criteria to consider when determining which one to go with.

Betting Odds

Getting the best odds for your March Madness parlay means you’ll get the largest possible payout.

Betting Boosts

Winning a parlay bet is great. Winning extra on an odds- or profit-boosted parlay is better. Many apps will have special promotions during the NCAA tournament.

What Is A Parlay Bet?

If you are not familiar with a parlay bet, I will simplify it for you. A parlay bet combines multiple bet selections into a single betting ticket.

In some regions, a parlay bet will also be referred to as an accumulator bet or a multi-bet.

Each bet selection in your parlay is called a leg. Therefore, a parlay with two bet selections is called a 2-leg parlay whereas a parlay with seven bet selections is called a 7-leg parlay and so on.

Parlays can be profitable, but they can also be frustrating.

If you lose even one leg in your parlay, the entire bet will be graded as a loss. However, there is a way to work around this by placing a Round Robin parlay.

A round-robin parlay allows the better to earn a payout even if one or more legs of the parlay loses, depending on how many legs you build it with.

Round robins are quite common and can be found at most operators that feature a normal parlay bet.

If you are building a parlay bet during March Madness, it would be wise for you to deploy the round-robin option due to all of the variance and surprises that come with the tournament.

March Madness Same Game Parlay

Same-game parlays (SGP) are bets that feature all bet selections from a single contest. You can build an SGP at most of the top sportsbooks during March Madness.

For example, if you think Gonzago will defeat Davidson in the Elite 8 and it will be a high-scoring affair, then you can build a parlay like this:

  • Gonzaga (-110)
  • Gonzaga versus Davidson Under 132 (-111)

Parlay Odds: +262

To hit this parlay, Gonzaga must win outright and the total of the game must fall under 132 points. If that happens, then you can win $26.29 on a $10 wager.

College Basketball Player Parlay

Even during the March Madness tournament, you can build player prop parlays.

Player prop parlays are bets that feature all player props. These bets focus on player statistical outcomes rather than the final score of the game.

Here is an example of a player prop parlay you can build for the Big Dance:

  • E.J. Liddell Over 8.5 Rebounds (+114)
  • Jaden Ivey Over 4.5 Rebounds (+100)
  • Boogie Ellis Over 2.5 Assists (+134)

Parlay Odds: +901

If all of the above legs are successful, you can win $90.05 with a $10 stake on this 3-leg parlay.

Moneyline Parlay

A moneyline parlay is one of the most common parlay builds you will find. To cash your ticket, the teams you select must win their games outright. If even one loses, your entire ticket will be graded as a loss.

Moneyline parlays can be annoying during March Madness due to all the upsets.

Here is an example of a moneyline parlay:

  • Loyola Chicago (-111)
  • Auburn (-2000)
  • Montana State (+1000)
  • Purdue (-2300)

Parlay Odds: +2190

If all of the teams you picked win their games, a 4-leg parlay like the one above would get you a $219.10 payday on a $10 wager.

Points Spread Parlay

A point spread parlay is a bet constructed from all against the spread (ATS) wagers.

To do this point spread during the March Madness tournament, all of the teams you pick must cover their respective spreads.

Here is an example of a point spread parlay during March Madness:

  • Virginia Tech +1 (-110)
  • Chattanooga +8.5 (-110)
  • Alabama -4 (-110)

Parlay Odds: +595

If all of the above teams cover their spreads in a similar 3-leg parlay, you will win 59.58 on a $10 bet.

Over/Under Parlay

An over/under parlay is a bet that is constructed from all points total wagers.

To win an over/under parlay, all of the games you select must go over or under the predetermined point total, depending on the side you picked.

These are some of the most common parlay builds you will see during March Madness.

Here is an example of one:

  • Duke versus CSU Fullerton Over 145.5 (-110)
  • Wright State versus Arizona Under 156.5 (-120)
  • Iowa State versus LSU Under 128.8 (-110)

Parlay Odds: +568

If all of the games you pick go over or under their point totals in the above 3-leg parlay, you can win59.82 on a $10 wager.

March Madness Parlay Betting Strategy

Betting on straight wagers is hard enough, so clearly, parlay bets are that much more difficult to hit. Therefore, you must have a proven, winning strategy when constructing them, especially during March Madness.

Below, I will list some of my favorite parlay betting strategies that will also help you during an event like March Madness.

Shop For Boosts

Most of the top sportsbooks will offer parlay boosts and odds boosts. There are even “people’s parlays,” that are built by the public, usually via social media.

However, not all books are created equal. They will all give you something different to entice the bettor to wager at their operation.

It is important to have multiple sportsbooks loaded with funds so you don’t miss out.

If you want to build a 4-leg parlay at DraftKings and they are offering a 15% boost, then it would be wise to check out Barstool as they may be offering a 20% boost on that same 4-leg parlay build.

Most books will also have parlay insurance, especially during an event like March Madness.

Hedging

There are points and times that you should hedge your bets. One of the most important times to employ the hedging strategy is with parlays.

Let’s say you build a 5-leg parlay and the first four legs have already won. Then if you can win $1000 that 5-legger and the final bet comes down to Loyola beating Texas State straight up, then be sure to place a $500 bet on Texas State to win.

This way, you will guarantee yourself a profit no matter what happens.

You can choose to hedge your March Madness parlays before the game starts and also with live bets, which can also come with a live bet boost at some operators.

Fade Lottery Ticket Parlays

Just because you can go crazy and build an 18 -leg parlay with (+20504) odds doesn’t mean you should be doing it regularly.

You also should not be wagering full units on those either. They are called lottery tickets for a reason. They are hard to hit and complete longshots.

To cash more March Madness parlay tickets, limit your selections to around 2-4 legs and keep the odds under (+500). The more modest your parlay build is, the better chance you have at cashing the ticket.

Where NCAAB Parlay Bets Online Are Legal

Betting on college sports parlays is legal in every state online sports betting is legal.

Here’s a list of states where you can bet on parlays when betting on college basketball:

Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Nevada, New Hampshire, Tennessee, Virginia, Washington, D.C., West Virginia, New York, New Jersey, Pennsylvania, and Wyoming.

Besides betting parlays you may want to try March Madness props betting in order to increase your chances of winning.