Does Betting Every Underdog in March Madness Work?

Betting on every underdog in March Madness sounds like a crazy idea, but there might be something to it! The NCAA Division I Tournament is known for its wild nature, so it’s an interesting plan worth considering.

I’ve tested this approach in the past two years, with 2024 showing some promise before 2025 completely destroyed my bankroll! Still, this was one of the worst years ever for betting on underdogs, and I’m not ready to call it quits yet.

I will test this approach again in 2026 by betting on all underdogs during March Madness, so stay tuned! I will only back moneyline wins this year to keep it simple. I will be adding all my picks and tracking my results in this post, starting from the First Four, so if you’re interested, make sure to visit after each round.

Also, adding some ground rules would be helpful, so let’s start there.

Betting Every March Madness Underdog – The Rules

Backing all underdogs during March Madness is going to be a crazy adventure, so I want to bring at least some order to this type of March Madness bracket betting. Let me explain the plan by going through every major aspect of my idea.

Rule 3: Line Shopping

Using a single sportsbook for underdog betting would be very limiting, so I will use multiple March Madness betting sites. At the same time, I want to keep it fairly simple and easy to replicate for a regular college basketball fan.

That’s why I decided to limit the number to three bookmakers: Bovada, BetUS, and BetOnline. They are my favorite US sportsbooks and consistently deliver high odds, as well as cool March Madness bonuses and promos.

I won’t use any offers, though, I want to see how this works without any extra help. I will simply check the bookies and get the best March Madness odds and lines for the purpose of my approach.

Want a complete guide on March Madness betting strategies? Check out our full March Madness betting guide.

Casinos
Bonus	50% up to $250	125% up to $2,625	50% up to $250 in Free bets + 100 Free Spins
Live Betting	Yes	Yes	Yes
Sign Up	Play Now	Play Now	Play Now

Moneyline Betting on All March Madness Underdogs in 2026

I’ve added two underdog bets for the First Four, but the other two don’t have a clear favorite, so you won’t find them in the table below. I will keep monitoring the odds in case that changes.

Also, I’ve added all Thursday underdogs to the table. I didn’t the ones from Friday since the moneyline odds are not available for all of them, but they will be included on Wednesday.

March Madness Underdog Betting from 2025 Summary

Here’s what happened when I bet on all March Madness underdogs in 2025.

Note: The March Madness 2025 final was one of the games excluded from this experiment because there was no clear underdog (odds of +100 or higher).

March Madness Underdog Betting from 2024 Summary

Here’s a full timeline with my comments and results summary of my March Madness underdog betting experiment in 2025. In that year, I actually targeted both spreads and moneylines.

Final Thoughts

I feel obliged to share some predictions and a warning for this March Madness underdog betting experiment. For a start, please, gamble responsibly if you decide to follow me and bet on all March Madness underdogs this year. It’s a tricky system that could easily go wrong, so don’t risk money you can’t afford to lose!

My expectations last year were to lose money from the spreads and win from the moneylines, which is exactly what happened. This is why we will only target the moneylines in 2025.

We’ll see what happens, and I promise to analyze the results thoroughly when the tournament is over. Good luck to everyone on your March Madness underdog betting in 2025!