March Madness Odds In North Carolina

The 2023 March Madness tournament could be the last one that North Carolina residents won’t be able to bet on online. The latest push to legalize online sports betting in the state could make the process simple next year.

In the meantime, college hoops fans can still bet on all of the NCAA Tournament action using the state’s retail sportsbooks.

It’s time for the Sweet Sixteen, and college basketball fans are eager to place their bets and put their brackets together.

Current 2023 March Madness Betting Odds In North Carolina

Since Caesars Sportsbook is the most popular operator in North Carolina, we’ll use their latest odds for the table below. These betting odds are accurate as of March 13, 2023. 

Alabama Crimson Tide+360
Houston Cougars+375
UCLA Bruins+700
Texas Longhorns+1,000
Connecticut Huskies+1,000
Creighton Bluejays+1,200
Gonzaga Bulldogs+1,200
Tennessee Volunteers+1,400
Michigan State Spartans+2,500
Kansas State Wildcats+2,500

How To Bet On March Madness In North Carolina

Unfortunately for North Carolina bettors, the only legal option available for those in the Tar Heel State are the state’s Las Vegas-style retail sportsbooks.

There are two Caesars Sportsbooks, which are part of the Harrah’s Casinos located in Cherokee and Murphy. The third in-person sportsbook in the state is located at Two Kings Casino in Kings Mountain. If you want to bet on Duke or UNC-Wilmington, you’ll have to visit one of these sportsbooks in person.

Types Of Bets

Futures Bets

The odds above are part of what’s called futures bets, which is exactly what it sounds like. With futures, you’re wagering on something you won’t know the outcome of until late in the season. In addition to betting on who will win the NCAA tournament, some sportsbooks also offer odds on teams to make the Final Four. 

Moneyline Bets

Moneyline bets are the most straightforward wager types, as you’re picking who you think will win the game outright. With these bets, you’ll see odds like -150 or +125. The – next to a number indicates that team is favored to win, while a + indicates the underdog. The higher the number, the bigger favorites or underdogs the team is.

Point Spread Bets

With March Madness point spreads, or simply “spread” bets, each team is assigned a point margin. Let’s say Duke is favored by 8.5 points (-8.5) and you want to bet on them to cover the spread. This means the Blue Devils would have to win the game by 9 or more points for you to win the wager. If they win by 8 or fewer (or lose the game), your bet loses. In this same scenario, the odds for a Duke moneyline bet would be less favorable to bet than the point spread, which is why bettors will choose spread bets instead of moneyline.

Point Total Bets

Point totals are what they sound like – you’re betting on the combined amount of points scored. A particular line will be set, and your wager is betting on whether the point total will be over or under the line, such as 136.5.

NCAA Final Four Odds

March Madness Final Four odds are set by each sportsbook, with most relying on algorithms and some human influence. Each initial line is set with the goal of getting equal action on each side of the bet and then lines will move based on the number of bets and amount of money wagered on each game. 

Odds for each Final Four game will typically be posted as soon as each game is set following the Elite Eight.  Last year, the moneyline odds and spread for Gonzaga were -1050 and -13, respectively. For UCLA, it was +720 and +13.

Gonzaga was heavily favored in this matchup as seen by the moneyline odds and spread. In order to win $100 on the Zags moneyline, you would have to wager $1,050. This game ended with Gonzaga winning 93-90, meaning UCLA +13 was the winning bet.

NCAA Final Four Futures Odds

Some sportsbooks will allow you to place speculative bets on what teams make it to the Final Four. How early these come out will vary by sportsbook. As of mid-February, DraftKings and FanDuel sportsbooks have future Final Four odds out whereas BetMGM and Caesars do not.

What Affects March Madness Predictions And Odds

Leading up to The Big Dance, odds will sway heavily at the beginning of the season depending on which teams are playing the best. Arizona, who wasn’t ranked at the beginning of the year, started as +5000 odds to win the tournament and is currently listed at +1000. On the flip side, we have a team like Michigan who opened with +1400 odds and is now at +10000. 

Injuries to key players, current performances, and strength of schedule are some of the things that affect March Madness odds throughout the year leading up to the tournament. The closer we get to March, the odds will start tightening up as the path to March Madness gets clearer.

NCAA Basketball Odds

Odds and bets for games outside of March Madness are offered all season long for North Carolina bettors. The things that affect March Madness odds outlined above will also determine odds in individual games NCAA basketball games throughout the year. Each team’s individual strengths and weaknesses will have a large impact as well. If a team struggles defending three-point shots is going up against a team known for their ability beyond the arc, you can expect to see that reflected in the odds for that game.

At the two retail sportsbooks in North Carolina, you have the ability to place some bets other than moneyline, spread, and point totals.

In-Game Betting

Did you get to the casino after the game tipped off? No worries. Live, or in-game betting, is offered at The Book in North Carolina. This is also a strategy used by profitable bettors as you can get better odds at times on teams who were favored before the game started. Let’s say UNC are heavy favorites against a team like Georgia Tech, but at the beginning of the game the Yellow Jackets jumped out to a 10-0 lead. In this scenario, you could get much more favorable odds if you think the Tar Heels will still win.

Part-Game Wagers

You can also place wagers on specific portions of a game. If you knew the App State Mountaineers started games off slowly but tend to heat up in the second half, you could bet against them in the first quarter but then place bets in favor of them in the third quarter.

Restrictions On College Betting

As things stand right now, North Carolina does not have any college betting restrictions like some other states have. In neighboring Virginia, for example, there are restrictions against wagering on Virginia-based schools. It remains to be seen, however, if any similar restrictions will make their way into law once North Carolina legalizes mobile sports betting.

March Madness Odds In North Carolina FAQs

Is it legal to bet on March Madness online?

No. North Carolina currently completely prohibits online wagering, regardless of sport.

Who sets March Madness betting odds?

Some sportsbooks set their own lines, while others use services provided by other oddsmakers.

Where can I find March Madness odds?

For North Carolina, checking the latest March Madness odds is easiest online. You won’t be able to place your college basketball bets using online sportsbooks, but you can at least check the latest odds in a matter of seconds. The other option would be driving to one of the state’s casinos to view the latest odds at one of North Carolina’s retail sportsbooks. 

What are the odds of a perfect March Madness bracket?

Extremely low. If you were just flipping a coin, the odds are 1 in 9.2 quintillion. If you have some knowledge, your odds are slightly better but not great at 1 in 120 billion.

Do sportsbooks offer live in-game betting for March Madness and the Final Four?

Yes. Every sportsbook will have some in-game offerings for March Madness. The depth and variety of these bets, however, will vary across each sportsbook.

About the Author

Cody Kutzer

Cody is a freelance writer contributing to our sports betting content. He's a fantasy football fanatic, lover of all things Penn State, and always one bet away from winning his teasers.