Long before March Madness reigned supreme, the National Invitational Tournament was the preeminent basketball competition in America. Established in 1938 by the Metropolitan Basketball Writers Association, the NIT routinely drew the top hoops teams in the nation to Madison Square Garden for a high-octane winner-take-all tourney.
More than eight decades later, the NIT continues to capture some of that past glory with its annual 32-team single-elimination showdown. This year's field featured a dazzling selection of top programs including No. 1 seeds Auburn, Wake Forest, New Mexico, and Tulsa.
Let's take a look at the latest odds heading into this year's event.
2026 NIT odds
| Team |  |
|---|---|
 Auburn |
+350 |
 New Mexico |
+380 |
 Wake Forest |
+550 |
 Tulsa |
+1000 |
 Oklahoma State |
+1200 |
 Nevada |
+1300 |
 Dayton |
+1700 |
 California |
+2000 |
 Wichita State |
+2500 |
 Yale |
+2800 |
2026 NIT favorites
Auburn (+350)
Arguably the biggest snub of the 2026 NCAA Tournament, the Tigers enter the NIT with a serious chip on their shoulders. Despite a 17–16 record, Steven Pearl’s team boasts a Top 5 strength of schedule and high-caliber wins over Florida and St. John’s.
The Tigers feature the nation’s No. 14 adjusted offense, powered by breakout guard Kevin Overton and veteran forward KeShawn Murphy. Their elite scoring depth make them the most dangerous team in the field.
New Mexico (+380)
New Mexico enters the 2026 NIT as a massive threat because of their high-efficiency backcourt and interior dominance. Despite a heart-wrenching two-point loss in the Mountain West semifinals, the 23–10 Lobos are a statistical juggernaut.
They are fueled by Jake Hall, a sharpshooting freshman who led the team with 16.0 PPG on 44.4% shooting from deep. Complementing him is Tomislav Buljan, whose nation-leading 16 games with 5+ offensive rebounds provide New Mexico with relentless second-chance opportunities. This combination of perimeter gravity and glass-cleaning grit makes them a nightmare matchup on neutral courts.
Wake Forest (+550)
Teams could be in for a serious Wake up call when they face the Demon Deacons. Led by ACC Most Improved Player Juke Harris (21.3 PPG), Wake Forest possess the explosive scoring necessary for a lengthy postseason run.
While their 17–16 record left them just outside the NCAA bubble, Steve Forbes’ squad proved their mettle with a late-season surge and a gritty overtime win in the ACC Tournament. With a battle-tested roster and high-level metrics, the Deacons are primed to dominate the NIT field.
Tulsa (+1000)
Tulsa enters the NIT as a heavyweight after a resurgent 26–7 season. Despite a high-octane offense, a semifinal exit against Wichita State left them just outside the NCAA field.
The Golden Hurricanes are led by First-Team All-AAC forward David Green (16.5 PPG) and feature a formidable backcourt in Tylen Riley (14.7 PPG) and Miles Barnstable (14.8 PPG). Together, they propelled Tulsa to 85 points per game, a pace few NIT teams can match.
2026 NIT schedule
| Round | Date |
|---|---|
| First Round | March 17-18 |
| Second Round | March 21-22 |
| Quarterfinals | March 24-25 |
| Semifinals | April 2 |
| NIT Championship Game | April 5 |
NIT opt-outs
Sometimes the teams that make the biggest headlines at the NIT are the ones that don't even show up. Here are the programs that declined an invitation to this year's tournament:
- Belmont
- Virginia Tech
- San Diego State
- Seton Hall
- Indiana
- Florida State
- Oklahoma
Many of the teams on the list, like Indiana and Seton Hall, announced they had no desire to play in a postseason tournaments after failing to qualify for March Madness. Others may still be holding out for a spot in the College Basketball Crown, which resumes this April and is poised to attract top talent with its alluring Las Vegas location.
Where can I bet on the NIT?
March is one of the busiest times of the year for online sportsbooks thanks to March Madness and the NIT. Every betting site will offer NIT odds, but the best sites are safe and secure, offer a wide range of banking options, and give you a ton of markets for each game. Check out the best college basketball betting sites in your region.
What is the NIT?
The National Invitation Tournament is a men's college basketball tournament held annually in the United States. It was founded in 1938 and predates the NCAA Tournament by one year. The NIT was originally considered the premier postseason tournament in college basketball, but its status has diminished somewhat over the years with the growth of March Madness.
The NIT typically invites teams that did not receive bids to the NCAA Tournament, although there have been instances where NCAA Tournament teams that were considered on the bubble or from mid-major conferences have participated. The tournament is organized by the NCAA and is played at various neutral-site locations, with the semifinals and championship game typically held at Madison Square Garden in the heart of New York City.
While the NCAA Tournament determines the national champion, the NIT provides an opportunity for teams to continue their seasons and potentially win a postseason title. Winning the NIT can still be a significant achievement for college basketball programs, particularly those that may not have had as much success in the regular season or missed out on the NCAA Tournament.
NIT odds explained
Sportsbooks post odds for the NIT immediately following Selection Sunday on March 17. These odds are constantly adjusted due to a number of factors including seeding, team performance, and player injuries. Sportsbooks also adjust NIT futures odds based on handle and liability to certain teams.
NIT futures odds will usually look like this:
- Wake Forest +550
This means that on a $100 bet, you'll stand to win $550 if the Demon Deacons win the title. If it's close to the end of the regular season or even during the tournament and college basketball has a very dominant team, you might see that a team has a minus sign (-) ahead of its odds.
- Auburn -120
This means that you would need to bet $120 to win $100 on an Auburn championship.
Above we have posted the American odds for NIT futures. However, these are easy to convert to decimal odds or fractional odds with our odds converter tool.
How to bet college basketball futures
Learning how to successfully bet on the National Invitational Tournament is one of the hardest things to do in sports betting. The single elimination format of the NCAA Finals and the fact that a school needs to win four straight games against quality opponents means that the favorites don't always take home the title.
Another factor that comes into play is that the tournament bracket isn't set until Selection Sunday. As the college basketball season winds down, you can be pretty sure that the big favorites will slide into the bracket as top seeds. But for teams in the middle of the pack, nothing is certain.
As always when betting futures odds, be sure to look into college basketball injuries and suspensions. You might find some current value in a team that is expecting to get a key player back before the NIT begins.
Where can I find NIT spreads?
Check out our college basketball scores and matchups page daily to see the latest college basketball lines. In addition to NIT spreads, total, and moneyline info, you'll also find game previews, betting trends, line movement history, and ATS and O/U consensus data for every National Invitational Tournament game. We don't sleep until the nets are cut down.
Past NIT winners
| Year | Champion | Runner-Up |
|---|---|---|
| 2025 | Chattanooga | UC Irvine |
| 2024 | ||
| 2023 |  North Texas |
 UAB |
| 2022 |  Xavier |
 Texas A&M |
| 2021 |  Memphis |
 Mississippi State |
| 2020 | No tournament (COVID-19) | NA |
| 2019 |  Texas |
 Lipscomb |
| 2018 |  Penn State |
 Utah |
| 2017 |  TCU |
 Georgia Tech |
| 2016 |  George Washington |
 Valparaiso |
| 2015 |  Stanford |
 Miami |
| 2014 |  Minnesota |
 SMU |
