With another Selection Sunday in the rearview mirror, it’s time for 2022 March Madness betting. For the first time ever, you can do legally put those wagers down online in the state of New York.
There are some important rules to pay attention to when betting on this year’s NCAA D1 women’s basketball national championship tournament in NY. For those who are brand new to betting online in the Empire State, here’s everything you need to know.
How to get started with 2022 March Madness betting in New York
If you are new to legal online sports betting in NY, welcome! This market is one of the newest in the country when it comes to this particular form of gambling. The first online sportsbooks just started taking bets on Jan. 8 of this year.
Eight of the state’s nine licensees are now up and running. All of them will have a variety of markets on March Madness like futures, single-game lines, and a variety of props for both games and the entire tournament. If you want to bet on the men’s tourney as well, that will be an option.
The eight active online sportsbooks in NY are:
- BetMGM
- BetRivers
- Caesars
- DraftKings
- FanDuel
- PointsBet
- Resorts World
- WynnBet
The important thing to note before deciding which of the eight sportsbooks you might want to try is whether you are eligible to bet on sports online in NY. In this state, you must be at least 21 years of age to gamble.
If you take part in any of the state’s gambling self-exclusion programs, this activity isn’t for you. The last thing to consider is your location. You must be somewhere within the borders of NY when you place your bets.
New York has some special regulations for bettors in regard to college sports. These rules explain why some particular markets you might be looking for on the apps seem to be missing.
What NY law says about betting on college sports
Browsing the tournament futures lines, you might see a few teams missing. You may also notice that NY sports betting apps seem to not be posting markets for certain games within the tournament. What gives?
NY law bans bets on college teams within the state’s borders. So Syracuse, St. John’s, etc. are off the board. If such teams qualify for the tournament, the sportsbooks will not list them as an option in futures markets.
Additionally, any tournament games those teams take part in will not be on the board, either. All the other games and teams in this year’s field are fair game, though. What’s also a fair game is your chance to sign up for every NY online sportsbook.
How to sign up for a NY online sportsbook
Both federal and state law requires that you sign up for an account with each online sportsbook you want to use. Don’t fret, though. The process is not only free but quite easy and fast.
The easiest way to access online sportsbooks in NY is with your smartphone. Simply open the App Store or Google Play Store on your device then search for the name of the app you want to use.
After your device downloads and installs the app, it should walk you right through the process of registering your account. The sportsbook just needs a few pieces of information to verify your eligibility and identity.
After the app confirms everything, you’re almost ready to browse the lines and place your first bet. All you’ll need to do at that point is deposit some funds into your account that you can wager with. Don’t get into a hurry here, though. You might miss out on some freebies.
Before you deposit, check your notifications
Most NY sportsbooks reserve their best promotions for new customers. Some of them are tied to your first deposit, so it’s important to familiarize yourself with them before you make that funding move.
Examples of these deals include free bets, guarantees against losing your first bet, and matches of your deposit in site credit. If you aren’t a new customer, you shouldn’t be left out in the cold this time of year.
March Madness is one of the biggest betting events of the year. Around the event, many sportsbooks have special promos for all customers, not just new ones. A common example is boosted odds on certain games.
As with all offers, it’s super important to read all the conditions and terms so you know what you’re getting into before you put your money at risk. There are some common terms that many promos carry.
Common conditions for March Madness promos
Among terms that are key to look for are expiration dates/times, minimum odds, and payout parameters. Another important distinction is the difference between free bets, real money, and site credit.
Free bets and site credit are not real money. You can’t withdraw any of that promotional value into a bank account. It only exists within the app, kind of like “Monopoly money.” There might be rules around what markets you can use free bets and/or site credit on.
For example, some promos feature minimum odds. This is to prevent you from using an odds boost betting on a -2000 favorite, for instance. Additionally, many deals come with expirations. If you don’t use the promotional value within the specified time frame, it vanishes.
While offers can be tempting, it’s never a smart play to exceed your budget to chase some bonuses. Even if you lose your bet, playing responsibly always makes you a winner. Setting a budget and sticking to it is pivotal in that regard.
That’s another reason why betting with house money is great. It doesn’t cut into your budget even if you lose. When it comes to March Madness, there are plenty of ways to go whether using your own money or the book’s.
Ways to bet on March Madness at NY sportsbooks
Most of the markets you will find for March Madness will be either futures, in-game, or pre-game bets. Futures include things like wagering on whether a team will reach the Final Four or national championship.
If you want to bet on individual games, you can do so either before or during the game. Ways to do that include moneylines, player props, point spreads, point totals, and team props.
Again, the most important thing to keep in mind as you browse the lines is to play responsibly. As long as you do so, this year’s version of March Madness might be the most enjoyable yet in NY.
