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March Madness odds 2024: Projecting the teams with best chances to make each round, win NCAA Tournament

Edward Sutelan

March Madness odds 2024: Projecting the teams with best chances to make each round, win NCAA Tournament image

The march has arrived.

There have been 68 teams chosen to compete in the NCAA Division I Men's Basketball Tournament. Sixty-eight teams that on Sunday all have lofty aspirations of being the one with the confetti raining down as "One Shining Moment" plays in the background. 

This is the chance where everyone gets to try and be a basketball expert. Given the improbability of picking a perfect bracket, it's safe to say everyone has about the same chances of getting one all correct. But The Sporting News is here to help sort through some of the madness.

SN's MARCH MADNESS HQ
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TSN is rolling out its projection model that evaluates the field and determines which teams are the most likely to come out of each matchup. The model is based on composite ratings from Sports-Reference's SRS ratings, Pomeroy, ESPN BPI and Massey Ratings. The model then runs a Monte Carlo simulation of the tournament 20,000 times and records the outcomes for each result.

All odds listed are from BetMGM.

Here is a look at the current odds for the entire 2024 March Madness bracket, as well as what The Sporting News' model says about the field.

March Madness odds 2024

The reigning champion reigns supreme. Well, at least in odds according to BetMGM.

Connecticut enters as the favorite to win it all, with fellow No. 1 seeds Purdue and Houston not far behind.

RegionTeamSeedOdds
EastConnecticut1+350
SouthHouston1+600
MidwestHouston1+650
WestArizona2+1100
WestNorth Carolina1+1300

Here's a look at the teams with the best odds for each seed in the tournament:

SeedRegionTeamOdds
1EastConnecticut+350
2WestArizona+1100
3South/MidwestKentucky/Creighton+2500
4EastAuburn+1700
5MidwestGonzaga+6000
6EastBYU+6600
7SouthFlorida+6000
8EastFlorida Atlantic+10000
9WestMichigan State+10000
10South/WestColorado/Nevada+15000
11WestNew Mexico+12500
12SouthGrand Canyon+35000
13EastYale+50000
14East/Midwest/SouthMorehead State/Akron/Oakland+100000
15West/SouthLong Beach State/Western Kentucky+100000
16AllAll+200000

The beasts are in the East. Of the 16 seeds, seven (including ties) are coming from the East. The South also has seven, though five of those come in double-digit seeds while three of the top six seeds are from the East.

Like BetMGM, the model sees the three non-West No. 1 seeds as the teams to beat, though it has Houston as the title favorite over Connecticut. The model is considerably down on North Carolina, which ranks eighth overall in national championship odds, trailing three No. 1 seeds, three No. 2 seeds and a No. 4 seed.

RegionTeamSeedTitle Win PercentImplied Odds
SouthHouston117.5%+472
EastConnecticut113.5%+643
MidwestPurdue113%+672
WestArizona27.1%+1304
EastIowa State25.9%+1599

The model is fairly high on Iowa State relative to BetMGM, which has the Cyclones as having the eighth-highest title odds. Otherwise, the top four are the same, just a bit reshuffled.

EXPERT PICKS: DeCourcy (UConn) | Bender (UConn) | Iyer (UConn) | Yanchulis (South Carolina women)

NCAA Tournament odds to advance by region

Here is a look at the odds for each team to advance past each region, as well as the projected run for each team based on The Sporting News' model.

It should be noted teams in the play-in or facing play-in teams will have their odds and model projections updated once the games are concluded. Odds for teams to reach the Sweet Sixteen and Elite Eight will be updated as they are released, as will moneyline odds for each matchup.

East

It's going to be a challenge for everyone in the East in the same region as No. 1 Connecticut. If anyone is going to challenge the Huskies, it appears the books are saying No. 4 Auburn or No. 2 Iowa State.

SeedTeamRound of 32Sweet SixteenElite EightFinal FourTitle winner
1Connecticut-10000-650-175-110+350
2Iowa State-2500-300+120+425+1800
3Illinois-800-145+250+650+3000
4Auburn-1000-250+275+375+1700
5San Diego State-275+250+900+2000+10000
6BYU-550+150+450+1600+6600
7Washington State+100+425+1000+3000+15000
8Florida Atlantic-155+750+1400+2000+10000
9Northwestern+125+800+1800+5000+25000
10Drake-120+575+1400+5000+25000
11Duquesne+400+900+4000+10000+50000
12UAB+220+2200+6000+12500+75000
13Yale+625+1000+5000+10000+50000
14Morehead State+550+1800+8000+20000+100000
15South Dakota State+1100+3000+20000+40000+200000
16Stetson+2000+8000+20000+40000+200000

Though Auburn and Iowa State are identical in title odds, the Cyclones are significantly heavier favorites to win their matchup with No. 15 South Dakota State than Auburn is over No. 13 Yale. That would seem to indicate if the Tigers can avoid the first-round upset, they could be a tougher foe to stop.

The model likes Auburn as a title contender, even if acknowledging its tougher matchup against Yale in the first round. It also sees No. 6 BYU as a potential sleeper in this region.

There are no upsets projected over 50 percent in probability, but it's a near coin toss for both No. 9 Northwestern vs. No. 8 Florida Atlantic and No. 10 Drake vs. No. 7 Washington State.

SeedTeamRound of 32Sweet SixteenElite EightFinal FourChampionshipTitle winner
1Connecticut96.6%78.1%53.6%33.8%22.3%13.5%
2Iowa State94.2%70.2%43.8%21.1%12.8%5.9%
3Illinois86.5%52.0%26.4%11.4%5.3%2.4%
4Auburn83.0%63.5%30.2%17.2%10.6%4.9%
5San Diego State73.5%26.5%7.3%3.2%1.0%0.4%
6BYU77.1%38.3%18.0%6.9%3.2%1.3%
7Washington State54.8%17.0%6.0%2.1%0.7%0.1%
8Florida Atlantic51.1%11.1%4.1%1.3%0.5%0.2%
9Northwestern48.9%10.3%3.3%1.4%0.3%0.2%
10Drake45.2%11.9%3.9%1.1%0.2%0.1%
11Duquesne22.9%6.3%1.4%0.3%0.0%0.0%
12UAB26.5%4.6%0.7%0.0%0.0%0.0%
13Yale17.0%5.4%0.9%0.1%0.1%0.0%
14Morehead State13.5%3.4%0.5%0.0%0.0%0.0%
15South Dakota State5.8%1.0%0.1%0.0%0.0%0.0%
16Stetson3.4%0.5%0.0%0.0%0.0%0.0%

REGION-BY-REGION GUIDES: South | Midwest | West | East

Midwest

Is anyone going to challenge Purdue? Tennessee might have the second-best title odds of any No. 2 seed, but the Boilermakers are still considerable favorites to win the Midwest region.

SeedTeamRound of 32Sweet SixteenElite EightFinal FourTitle winner
1PurdueTBD-450-150+150+650
2Tennessee-3000-200+135+350+1500
3Creighton-1100-190+200+475+2500
4Kansas-350+100+500+800+4000
5Gonzaga-300+135+450+1000+6000
6South Carolina-120+375+1200+4000+20000
7Texas-145+300+600+2500+12500
8Utah State+155+775+1600+2500+20000
9TCU-190+575+1000+3000+15000
10Colorado State+120+600+2000+5000+15000
11Oregon+100+450+1400+5000+25000
12McNeese State+230+550+2500+8000+35000
13Samford+260+1150+3500+20000+100000
14Akron+650+1200+5000+20000+100000
15Saint Peter's+1400+8000+20000+40000+200000
16Grambling State/Montana StateTBDTBD+20000+40000+200000

There are a few upsets to see bookmakers picking in this region. That would be No. 11 Oregon topping No. 6 South Carolina and No. 9 TCU over No. 8 Utah State. But even No. 12 McNeese and No. 13 Samford are hardly listed as long-shots to win their first-round clashes against No. 5 Gonzaga and No. 4 Kansas, respectively.

The model likes Kansas and Gonzaga as still steady favorites, but it likes the Ducks to beat the Gamecocks and the Horned Frogs to top the Aggies, even if only slightly. 

It also has the Ducks as having the second-best title odds for any team seeded at No. 11 or higher, topped only by New Mexico in the West.

SeedTeamRound of 32Sweet SixteenElite EightFinal FourChampionshipTitle winner
1Purdue98.1%76.3%56.2%37.4%22.6%13.0%
2Tennessee94.8%65.5%40.9%20.3%10.3%5.4%
3Creighton84.8%57.6%31.3%14.5%6.2%2.8%
4Kansas72.8%42.5%13.6%6.7%2.6%1.0%
5Gonzaga73.3%41.6%16.8%7.5%2.8%1.3%
6South Carolina51.4%19.8%6.7%1.8%0.5%0.2%
7Texas59.3%22.6%10.6%3.8%1.7%0.4%
8Utah State43.6%8.7%3.8%1.2%0.4%0.1%
9TCU56.4%14.9%6.4%2.6%0.7%0.3%
10Colorado State40.7%11.3%4.2%1.5%0.4%0.1%
11Oregon48.6%17.7%5.5%1.8%0.4%0.1%
12McNeese State26.7%8.6%2.0%0.6%0.1%0.0%
13Samford27.2%7.3%1.1%0.3%0.0%0.0%
14Akron15.2%4.8%0.7%0.1%0.0%0.0%
15Saint Peter's5.2%0.6%0.1%0.0%0.0%0.0%
16Montana StateTBDTBDTBDTBDTBDTBD
16Grambling StateTBDTBDTBDTBDTBDTBD

UPSET PICKS: 10 seeds | 11 seeds | 12 seeds | 13 seeds

South

Like the East, BetMGM currently has no underdogs projected to win the first round and lists the No. 1 seed as the clear favorite. Outside of Connecticut, no other No. 1 seed has better odds of advancing to the Final Four than Houston.

SeedTeamRound of 32Sweet SixteenElite EightFinal FourTitle winner
1Houston-5000-400-140+125+600
2Marquette-1600-135+200+550+2500
3Kentucky-1200-145+275+550+2500
4Duke-750-115+375+550+3000
5Wisconsin-250+200+700+1800+8000
6Texas Tech-225+200+500+2200+12500
7FloridaTBD+230+500+1500+6000
8Nebraska-115+550+1000+3000+15000
9Texas A&M-105+725+1600+4000+20000
10Boise State/ColoradoTBD+1100/+625+2000/TBD+6000/+4000+30000/+20000
11NC State+180+500+1400+4000+20000
12James Madison+195+700+2500+8000+35000
13Vermont+525+1050+5000+20000+100000
14Oakland+725+1900+8000+20000+100000
15Western Kentucky+850+1900+8000+20000+100000
16Longwood+1600+8000+20000+40000+200000

There might not be any upset picks, but No. 12 James Madison has intriguing upset potential at +165 odds over No. 5 Wisconsin. And No. 9 Texas A&M is only a slight underdog against No. 8 Nebraska. The No. 7 Gators have better odds to win the national championship than anyone below a No. 4 seed.

Oddsmakers might like the Gators, but the model does not. The model sees the Gators as being on potential upset watch in the first round whenever that matchup is determined, and as a result, they have lackluster championship odds.

Among potential sleepers in this region, it sees perennial title-contender No. 4 Duke as the team to watch, giving them the next-best chances of winning a championship and the third-best odds in the region to advance to the championship.

SeedTeamRound of 32Sweet SixteenElite EightFinal FourChampionshipTitle winner
1Houston96.6%79.2%56.6%44.3%29.0%17.5%
2Marquette88.2%53.5%33.0%13.3%5.6%2.8%
3Kentucky83.4%47.5%22.7%8.3%3.7%1.4%
4Duke81.8%52.7%21.4%11.5%5.8%2.9%
5Wisconsin65.3%32.0%9.9%5.3%1.9%0.8%
6Texas Tech62.3%33.1%15.5%5.0%1.6%0.6%
7Florida52.1%23.7%12.3%3.8%1.6%0.5%
8Nebraska52.9%10.8%5.5%2.3%0.5%0.3%
9Texas A&M47.1%9.3%4.0%1.4%0.5%0.1%
10Boise StateTBDTBDTBDTBDTBDTBD
10ColoradoTBDTBDTBDTBDTBDTBD
11NC State37.7%16.2%5.8%1.1%0.2%0.1%
12James Madison34.7%10.6%2.1%0.7%0.1%0.0%
13Vermont18.2%4.7%0.5%0.2%0.0%0.0%
14Oakland16.6%3.2%0.4%0.1%0.0%0.0%
15Western Kentucky11.8%2.5%0.6%0.0%0.0%0.0%
16Longwood3.4%0.6%0.1%0.0%0.0%0.0%

West

PRINTABLE: Download a 2024 March Madness bracket here

Bookmakers are low on North Carolina, which has the worst odds of any No. 1 seed to win the national championship. It's not even the favorite to emerge from the West region — that would be No. 2 Arizona.

SeedTeamRound of 32Sweet SixteenElite EightFinal FourTitle winner
1North CarolinaN/A-200+120+300+1300
2Arizona-3000-350-105+260+1100
3Baylor-1400-135+375+675+3500
4Alabama-500+100+350+800+4000
5Saint Mary's-250+150+450+1400+6600
6Clemson+115+350+1400+3000+15000
7Dayton+100+600+1200+4000+20000
8Mississippi State+100+400+900+3000+15000
9Michigan State-120+275+700+2200+10000
10Nevada-120+475+1000+3000+15000
11New Mexico-140+250+1000+2500+12500
12Grand Canyon+200+500+1600+6600+30000
13Charleston+375+1400+5000+20000+100000
14Colgate+775+1900+8000+40000+200000
15Long Beach State+1300+3500+8000+20000+100000
16WagnerN/AN/A+20000+40000+200000

After the Tar Heels and Wildcats, it's a bit more wide-open for who will be the next most serious challenge. It could be No. 4 Alabama, but the Crimson Tide are only -650 favorites to top No. 13 Charleston. And how about three upset picks in the odds? No. 9 Michigan State, No. 10 Nevada and No. 11 New Mexico are all favorites to win their respective matchups.

The model also is projecting a few upsets, but not all the same. It has the Lobos as slight favorites over No. 6 Clemson and the Spartans as having the edge over No. 8 Mississippi State.

As far as title odds go, New Mexico has the best chance for any team in the double-digit seeding range. Like the oddsmakers, Arizona is the favorite from this region, but the Wildcats are also the only top-four team in odds to come short of double digits, indicating this could be a wide-open region.

SeedTeamRound of 32Sweet SixteenElite EightFinal FourChampionshipTitle winner
1North Carolina97.6%60.0%35.8%18.4%8.2%4.1%
2Arizona94.6%69.6%46.6%26.8%13.8%7.1%
3Baylor86.4%53.1%24.6%13.9%6.0%2.3%
4Alabama89.1%54.8%28.7%15.3%6.8%2.8%
5Saint Mary's66.7%31.7%13.7%6.2%2.2%0.8%
6Clemson51.5%22.6%7.6%3.0%0.8%0.3%
7Dayton53.3%15.8%7.2%2.8%0.7%0.3%
8Mississippi State45.4%16.3%7.0%2.4%0.7%0.2%
9Michigan State54.6%23.5%10.9%4.5%2.0%0.6%
10Nevada46.7%13.7%6.0%2.0%0.6%0.1%
11New Mexico48.5%21.5%7.6%3.2%0.8%0.3%
12Grand Canyon33.3%10.8%3.6%1.4%0.2%0.1%
13Charleston10.9%2.6%0.3%0.1%0.0%0.0%
14Colgate13.6%2.8%0.3%0.0%0.0%0.0%
15Long Beach State5.4%1.0%0.0%0.0%0.0%0.0%
16Wagner2.4%0.2%0.0%0.0%0.0%0.0%

Edward Sutelan

Edward Sutelan joined The Sporting News in 2021 after covering high school sports for PennLive. Edward graduated from The Ohio State University in 2019, where he gained experience covering the baseball, football and basketball teams. Edward also spent time working for The Columbus Dispatch and Cape Cod Times.