What is the definition of March Madness betting is a question that has a few different answers. Most people believe that March Madness betting refers only to the NCAA Tournament but that is not always the case. Let’s look at answering the “What is the definition of March Madness betting” question. What is the definition of March Madness betting can include the conference tournaments that begin in early March and also include the National Invitation Tournament that coincides with the NCAA Tourney. Sometimes answering the “What is the definition of March Madness betting” question is not as simple as people believe. Gamblers around the world really do look at the conference tournaments and the NIT and include them in March Madness betting. There are actually a lot more games in the college conference tournaments than in the NCAA Tourney. Conferences like the Big East, Big 10, SEC, etc. have exciting tournaments and they should be included when asking the “What is the definition of March Madness betting” question.