Illinois March Madness Betting Sites
We review and rank Illinois’ best online sportsbooks for March Madness betting.
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March Madness Betting
March Madness, the NCAA Men’s Division I Basketball Championship, is a whirlwind of energy, excitement, and adrenaline. Each year, 68 teams engage in a do-or-die tournament to crown the national champion of college basketball, leaving fans and bettors on the edge of their seats.
It’s no surprise that this epic showdown has become a betting hotspot for sports enthusiasts. In this quick guide, we’ll dive into the world of March Madness betting and unlock the secrets to becoming a champion bettor.
Betting Odds For March Madness
The odds hold the key to success in March Madness betting. These numbers represent the likelihood of a team winning a game or the championship, as determined by the sportsbook.
The odds are displayed as a ratio, such as 1:2 or 2:1, indicating the potential payout for a $100 bet. For example, a $100 bet on the first team would yield a $200 payout, while a $100 bet on the second team would result in a $100 payout.
The odds are constantly in flux during March Madness, as the tournament evolves and teams get eliminated. Staying on top of the odds and adapting your bets accordingly is crucial.
One strategy is to bet on favorites early in the tournament when the odds are in your favor and then switch to underdogs as the tournament progresses and the odds shift.
March Madness Betting Strategies
Betting on favorites may seem like a safe bet, but the road to riches lies in taking risks. To maximize your winnings, you must embrace a diverse range of strategies, including:
Betting on underdogs: Despite the perceived safety of betting on favorites, betting on underdogs can pay off big. The odds for underdogs are usually higher, offering the potential for a larger payout.
Betting on upsets: March Madness is famous for its upsets, where lower-seeded teams upset higher-seeded teams. Betting on these upsets can lead to a massive payout.
Betting on live games: Live betting allows you to place bets while the game is in progress. This dynamic betting style can take advantage of shifting odds and secure a big win.
March Madness Betting: The Final Buzzer
March Madness is the ultimate test of skill, endurance, and luck, and betting on the tournament adds another layer of excitement. With the right strategies and a dash of fortune, you can become a champion bettor and make the most of this electrifying event.
So, keep an eye on the odds, bet on the favorites, and embrace the upsets and live betting opportunities. May the odds be ever in your favor!
How To Choose An Illinois Sportsbook
How do we pick the best online IL sportsbooks? To make it onto our list, a betting site or app must first meet some stringent criteria. Every sportsbook must…
⦁ Provide excellent customer service and support that is always available.
⦁ Use the most recent and secure software and data security protocols.
⦁ Be fully compliant and up to date with their state’s gambling authority.
⦁ Provide transparent and simple wagering agreements so that players can make informed decisions. easily
⦁ Be supported by consistent positive feedback from real players.
⦁ Equally important, we believe that the best online sports betting sites are those that allow you to immerse yourself in the action, excitement, and thrills of your favorite sports!
These are the main considerations for us when deciding which betting sites to include on our list of the best Illinois online sportsbooks.
Illinois Sportsbook Promo Codes
There are a range of promotions available at IL betting sites. New depositing customers can benefit the most. The promo offers vary by sportsbook, but here are the most common types of IL sportsbook promos.
Free bets and no-deposit bonuses:
No-deposit bonuses are straightforward: you open an account and are given a free bet upon registration. You do not have to deposit, but it is usually required for new accounts.
With a risk-free bet, you can place a wager and if you lose, you will be credited with the amount you lost in the form of a free bet. They are essentially a bet that cannot be lost! For instance, suppose you place a risk-free $20 bet on the Washington Commanders to win… but if they lose, you get a $20 free bet. This is an excellent option for new players at IL sports betting sites.
Matched Bonuses are usually only available on your first deposit. You must deposit, and the sportsbook will match your deposit amount or a percentage of your deposit. These bonuses are usually subject to playthrough requirements. Some games may only require one playthrough, while others may require up to 50. The latter makes the offer less appealing because you will have to place a large number of bets before your bonus money is available for withdrawal.
Reload bonuses are occasionally available. You re-deposit funds into an existing account and receive some form of site credit. It is typically given in the form of a matched bonus.
Refer A Friend:
This is a bonus for referring a friend to open an account with one of the sportsbooks. You receive credit to your account when they complete their account registration, make a deposit, or place their first bet. The exact type of credit depends on the offer from your specific provider.
There will be a refund/site credit based on net losses or a percentage of net losses. These are usually subject to playthrough requirements and a time limit.
The player receives better odds for a specific sporting event. A boxer who is +120 to win a fight, for example, could be boosted to +140 on a specific site. This provides added value to the bettor.
Bonuses and VIP Awards are given after a certain amount of money has been wagered and are usually released in small increments. For high volume/high wagering bettors, some sportsbooks may offer VIP rewards in the form of tickets to sporting events. VIP Rewards are not available at all sportsbooks.
How To Get Started With Illinois Online Betting
Getting started with Illinois online betting is relatively simple and straightforward. The following are the general steps you should take to begin:
- Meet the legal requirements: To bet online in Illinois, you must be at least 21 years old and physically present in the state.
- Choose an online sportsbook: Illinois has many licensed and regulated online sportsbooks. Investigate and contrast various sportsbooks to find the one that best meets your needs and preferences.
- Create an account: Once you’ve decided on a sportsbook, you’ll need to create an account by entering some personal information like your name, address, and birth date. You must also provide a valid email address and select a password.
- Verify your identity: Before you can place bets, most sportsbooks will require you to verify your identity. This is typically accomplished by uploading a copy of your government-issued identification.
- Make a deposit: Once your account has been created and verified, you can make a deposit via credit/debit card, e-wallet, or bank transfer.
- Place your bets: Once your account has been funded, you can begin betting on the sports and events of your choosing.
- Track your bets: Many online sportsbooks let you track your bets and see the status of your wagers in real time.
It’s always a good idea to read the operator’s terms and conditions and be aware of the rules and regulations; it’s also a good idea to set a budget and gamble responsibly.
What Sports Can I Bet Online In Illinois
The simple answer is, all of them. With online sports betting now widely available in the state of Illinois, here are some of the most popular sports to bet on:
⦁ Football (NFL, NCAA) (NFL, NCAA)
⦁ Basketball (NBA, NCAA) (NBA, NCAA)
⦁ Baseball (MLB) (MLB)
⦁ Hockey (NHL) (NHL)
⦁ Soccer (MLS, EPL, La Liga, etc) (MLS, EPL, La Liga, etc.)
⦁ Golf, Tennis, and Racing
⦁ Boxing and mixed martial arts
⦁ Rugby and Australian Rules
These are the most popular sports offered by Illinois online sportsbooks, but betting options vary depending on the operator and the event. Some IL betting sites also offer more specialized sports like esports, snooker, cycling and cricket among others.
What Types Of Bets Are Available in Illinois
In Illinois, you can place a variety of bets on sporting events through licensed and regulated online sportsbooks. The following are some of the most common types of bets:
⦁ Point spread bets: These bets involve betting on a team to win by a specific number of points. For example, you could wager on the Philadelphia Eagles to win by more than 7 points against the New York Giants.
⦁ Moneyline bets are wagers on which team will win a specific game or match. This type of bet does not include a point spread, and payouts are determined by the team’s odds of winning.
⦁ Totals (over/under) bets: These bets involve guessing the total number of points scored in a game. For example, you could wager on whether the total number of points scored in a football game will be greater than or less than 45.5.
⦁ Future bets: A future bet is a wager placed on the outcome of an event, such as a team winning a championship.
⦁ Prop bets: A prop bet is a wager placed on an event within a game, such as the number of touchdowns scored or the first team to score.
⦁ Parlay bets: A parlay bet is a single bet that combines two or more separate bets.
Here we give a bit more detail and practical examples of all the IL betting types.
Point Spread Bets: This bet, also known as betting the spread, is on who will win and by how much. It is used to balance the odds between two teams that are not evenly matched. The online sportsbook predicts which team will win and by how much. The underdog has a positive sign, while the favorite has a negative sign. Players then bet that the team expected to win will exceed the margin of victory and “beat the spread” or players will bet the underdog will lose by fewer points than the margin thus “cover the spread”.
As an example, consider the Bills versus the Patriots. The Bills are favored (-5) and must win by six points or more to cover the spread, while the Patriots must lose by four points or less to cover the spread. If a game results in the exact number, for example, if the Bills win by exactly five points, it is a ‘push,’ and bettors on either side will receive their original wager back. To avoid a “push”/tie, the spread is frequently expressed in half points.
Moneyline Bets: The most common type of bet, this is simply betting on a specific team to win. The team with the minus sign is the favorite, while the team with the plus sign is the underdog.
For example, the New York Jets are at -165, while the New York Giants are at +140: the Jets are favorites, while the Giants are underdogs. If you bet on the favorite, the Jets, you must wager $165 to win $100. If you bet on the Giants, you will bet $100 to win $140. Moneyline bets are solely on who will win.
Total Bets – Over/Under: A single wager that the total score of a game will be greater than or less than what the Illinois online sportsbook sets before the game. The bettor isn’t concerned with which team will win, but with the total number of points/goals/scores scored by both teams by the end of the game. Those who think the score will be higher than that set by the sportsbooks are “taking the over”, those who believe the score will be lower are “taking the under”. To avoid ties, half points are usually used.
Parlay Bets: A type of wager that combines multiple individual bets into a single wager. All of the individual bets must win for the player to win. Despite having lower odds of winning, the payout is significantly higher when you do. Parlays allow players to bet a small amount in order to win a large sum.
Teaser/Pleaser Bets: A type of parlay bet. The differences are that 1) all bets within Teaser/Pleasers are Point Spread Bets or Total Bets, and 2) the spread is shifted either for or against the bettor (Teaser) (Pleaser). For the same number of points, all of the lines are shifted in the same direction, either for you or against you.
Teaser: In this case, the lines are adjusted in the player’s favor, giving the player a better chance of winning, but at a lower payout than a standard parlay.
Pleaser: The line is adjusted in the opposite direction of a teaser, so the line is adjusted in favor of the sportsbook, so the player has a lower chance of winning than a regular parlay but the payout is much higher.
Prop (proposition) bets: These are wagers on events that are not necessarily related to the final score. A side bet is another term for it. As an example, consider an NBA game involving LeBron James. The line for number of Lebron’s assists is set at 10.5; you can wager on the over or under. Tom Brady’s 3.5 Touchdown Passes in a game; you can bet on the over or under. Prop bets include betting on the number of fouls in either half of a game or on someone running a mile in under five minutes. There can sometimes be over 500 different individual prop bets for a big event like the Super Bowl.
Futures Bets: These are wagers on an event that will occur in the future. For example, at the start of the season, you could bet on the Kansas City Chiefs to win the Super Bowl. These are especially popular on online betting sites for NFL, NBA, MLB, soccer, golf, tennis, and Olympic events.
In-Play/Live Betting: Betting on a specific sporting event after it has begun. Odds are adjusted in real time based on score lines, various statistics such as possession, injuries, and so on. Continuous betting during a sporting event is possible with live betting. During In-Play betting, you can place moneylines, spread bets, prop bets, and totals.
Round Robin bets are similar to parlay bets. A parlay is a group of single bets combined into one bet; a round robin is a group of parlays combined into one bet. As a result, you do not have to win every bet in the round robin to win some money; some losses are acceptable. However, payouts will be lower if some of the parlays in the round robin fail.
PointsBetting (Only on PointsBet): This is a brand new type of bet available only on PointsBet. Wagers are placed on the number of points a team wins rather than the outcome of a game. For example, if you bet $5 on the 49ers winning by 9 points, you would win $45, but if they lose by 5 points, you would lose $25. Essentially, your winnings or losses are multiplied by “how right” or “how wrong” you are. Wagers can result in large wins, but they can also result in large losses.
Note on Decimal/European Odds: These are different formats for expressing odds that you may encounter at Illinois online betting sites. The decimal odds number indicates how much a bettor wins for every dollar wagered. The number represents the total payout including the original wager amount, not just the profit, for decimal odds.
Example: You bet $1 with decimal odds of 4.5. If your team wins, you will receive $4.50 back, a $3.50 profit. In European betting markets, European odds, also known as fractional odds, are more common.
To convert a fraction to a decimal, divide the top or first figure by the bottom or second figure, then multiply by 1.
7/2 in fractional odds = 7 divided by 2 = 3.5, then add 1 to get 4.5 in decimal notation.
Types Of Illinois Betting Bonuses
Illinois sportsbooks provide a variety of bonuses to attract new customers and retain existing ones. Here are some of the most common types of sportsbook bonuses available in Illinois:
⦁ Welcome Bonus: A bonus given to new customers upon signing up and making their first deposit. This type of bonus can take the form of a match deposit, in which the sportsbook matches a percentage of the customer’s deposit, or a free bet, in which the customer can place a bet without risking any of their own money.
⦁ Reload Bonus: When an existing customer makes a deposit, they may be eligible for a reload bonus. This bonus is similar to the welcome bonus, but it is intended for customers who have already made a deposit and want to make another.
⦁ Referral Bonus: Customers who refer a friend to the sportsbook may be eligible for a referral bonus. This type of bonus is usually in the form of cash or free bets given to the customer who referred the new customer, as well as the new customer.
⦁ Free Bets: A free bet is a type of bonus in which the sportsbook gives you a certain amount of money to bet with without requiring you to put any of your own money at risk. If you win, you get to keep your winnings but not your free bet money.
⦁ Loyalty Program: Some Illinois sportsbooks provide a loyalty program in which customers can earn points for placing bets and performing certain actions, such as depositing money or referring friends. These points can then be used to get rewards like free bets or cash bonuses.
⦁ Odds Boost/Cashback/Other: Sportsbooks also offer a variety of promotions that change on a regular basis, such as enhanced odds, cashback, or odds boost.
Please keep in mind that these bonuses may come with additional terms and conditions, such as rollover requirements or restrictions on the types of bets that are eligible. Before accepting a bonus, read the fine print and make sure you understand the conditions for withdrawing the bonus.
Responsible And Safe Illinois Gambling
Responsible gambling is an important aspect of the Illinois betting industry. It refers to the practice of gambling safely and responsibly, without endangering oneself or others. Several measures are in place in Illinois to promote responsible gambling and protect consumers.
The Illinois Gaming Board (IGB) is the state agency in charge of sports betting regulation in the state. Several policies have been implemented by the IGB to promote responsible gambling, including:
⦁ Self-exclusion: This allows people to voluntarily withdraw from betting for a set period of time. Individuals who have been placed on the self-exclusion list are not permitted to enter any licensed casino in the state.
⦁ Voluntary exclusion: This allows a person to withdraw from gambling for a set period of time.
⦁ Help with problem gambling: The IGB offers information and resources on problem gambling and how to get help. This includes a confidential helpline that is available 24 hours a day, as well as links to local and national organizations that offer counseling and support services.
⦁ Age verification: A person must be 21 years of age or older to bet in Illinois. Sportsbooks must verify the age of all customers and face penalties if they allow underage gambling.
⦁ Advertising: Illinois regulates advertising to ensure that it is not deceptive or misleading. This includes guidelines for using phrases like “win big” or “strike it rich,” which could be interpreted as encouraging excessive gambling.
⦁ Responsible gambling training is mandatory for all gaming employees, according to the Illinois Gaming Board.
Individuals must be aware of their own limits and not exceed them when gambling. They must also be aware of the signs of problem gambling and seek help if necessary. Gambling should be regarded as a form of entertainment rather than a source of income, and it is critical that it remain so.
If you or someone you know have a gambling problem please contact the Illinois Council on Problem Gambling for help in Illinois.
Please gamble responsibly.