March Madness 2023 NCAA Basketball Championship Tournament Odds

Alex Murray
By: Alex Murray
14 Mar 23
March Madness
News
March Madness 2023 NCAA Basketball Championship Tournament Odds

March Madness, arguably the biggest sports betting event in North America, returns for the tournament’s 2023 edition on March 16th for the first round, where 64 schools will be playing for glory and a spot in the second round.

While upsets are rampant in the early rounds of the NCAA Men’s Basketball Tournament, there are still some safe betting picks that people can make, with the four No. 1 seeds sitting atop the outright odds tables for most betting sites.

Highlights

  • Houston leads the way on the March Madness outright odds board
  • UCLA is the top team on the odds board that didn’t earn a No. 1 seed
  • Oddsmakers are bullish on the chances of No. 4 seed UConn

2023 NCAA March Madness Tournament Outright Odds

Considering a No. 1 seed has only lost once in 148 tries in the first round, it makes sense that those four teams have better odds to go all the way than any other seed. There are a few exceptions but oddsmakers from nearly every corner of the sports betting world have the four No. 1 seeds as the most likely to have their one shining moment. Betway, who provided the odds below, are no different. 

School (Seed)

2023 NCAA Tournament Championship Odds

Houston (1)

+500

Alabama (1)

+750

Kansas (1)

+900

Purdue (1)

+1100

UCLA (2)

+1200

Arizona (2)

+1600

UConn (4)

+1600

Gonzaga (3)

+1600

Texas (2)

+1600

Houston Odds

After reaching the Elite Eight in both 2021 and 2022, Houston will look to make another deep run this time around. They are a very strong team defensively, led by AAC Defensive Player of the Year Jamal Shead, but they did just lose to Memphis in the final of their conference tournament and have also lost to Alabama this season. They’re very strong in the paint and have been quite dominant this season with just three losses, but their issues with free throw shooting and foul trouble could thwart their dreams of a championship run.

Alabama Odds

The SEC regular season and conference tournament champs come into the tournament with the second shortest odds to win it all at +750, and with good reason. They are perhaps even more well-rounded than Houston, with strong interior defense that has allowed the lowest opponent shooting percentage in college hoops. They also deal with foul trouble, but their 11 games against top 25 opponents (7-4 in those games) means they know how to deal with top programs.

Kansas Odds

The defending NCAA champs from 2022 will be looking to become the first back-to-back champs since Duke in 1991-1992. They did just lose the Big 12 conference tournament final, but they’re overflowing with talent. If they can stay healthy and play up to their potential, Bill Self’s squad could have another deep run.

Purdue Odds

Purdue will go as far as Big Ten Player of the Year Zach Eddey will take them—and that could be quite far. They are efficient on offense, they shoot a high percentage at the charity stripe, and they’re great on both the offensive and defensive boards. The Boilermakers count impressive wins over Gonzaga, Marquette, and Duke so far this season.

UCLA Odds

The team with the shortest outright odds apart from No. 1 seeds at +1200, UCLA will look to make some noise in the Big Dance despite losing a crucial starter in guard Jaylen Clark to an achilles injury. They led the Pac-12 during the regular season, and seniors Jaime Jaquez and Tyger Campbell have what it takes to carry the Bruins on a deep run.

Best Of The Rest

Despite poor three-point shooting, No. 2 Texas is also a big-time contender this season after winning the Big 12 tournament and beating Kansas, Gonzaga, and Baylor this season. Marcus Carr leads an impressive offense that gets assists on over half of their baskets. If there’s anything true in hoops, it’s that assists lead to wins.

Arizona, another No. 2 seed, is fresh off its second straight Pac-12 championship and will be looking to make their first Final Four run since 2001. There are really no discernible weaknesses on this experienced and talented team, except perhaps for a lack of depth. But if they can stay healthy, watch out.

The top No. 3 seed on the outright table with identical +1600 odds to Texas and Arizona, Gonzaga has made the Sweet Sixteen in the last seven straight tournaments. They have one of the very best offenses and are dominant inside the paint with senior center Drew Timme. Their only weaknesses are three-point defense and free throw shooting.

UConn is a No. 4 seed with the same odds as two No. 2 seeds and one No. 3 seed, which means oddsmakers like them to get an upset at some point in the tournament. They’re the nation’s best offensive rebounding team, they spread the ball well, and they score at all three levels. If they can keep the fouls down they should have a lot of success.

Alex is a recent graduate of Ryerson's Sport Media program in 2019 and has been contributing to BettingTop10 since 2020. He has worked in the field of sports and sports betting for several years, including writing for theScore and daily fantasy sports website FantasyPros as one of their lead NBA news writers. A dedicated sports fan and experienced sports bettor, Alex has the knowledge to provide you with the best betting advice and the sneakiest props no matter what the sport may be.