Best  March Madness Parlay Bet: North Carolina and Duke at +373 odds in the Sweet 16

North Carolina and Duke have both made it to the Sweet 16. The Tar Heels are favored to advance while the Blue Devils are slight underdogs in their game, but Elite Eight appearances for both is certainly a feasible outcome.

Can the two illustrious programs pull it off on Thursday and Friday? Bettors can put together a parlay which includes each program from the newly-legal betting state of North Carolina making it to the weekend. By combining the wagers, the payout odds increase, although if either bet loses, so does the parlay. Higher risk, higher reward.

Let's take a look.

Point Spread Bet: North Carolina -3.5 vs. Alabama (-120 odds)
Moneyline Bet: Duke over Houston (+158 odds)
Parlay odds: +373 odds at FanDuel

Leg 1: North Carolina -3.5 vs. Alabama

• The Tar Heels are one of only four teams remaining that are top-17 in efficiency on both offense and defense, per KenPom
• Alabama has the No. 4 offense in the country, according to KenPom, but its defense is ranked outside the top-100
• Some books have the spread at -4.5, and saving that point could be crucial if North Carolina wins a nail-biter and hits some free throws to finish it off

Leg 2: Duke moneyline +158 vs. Houston

• While Houston is ranked No. 2 by KenPom nationally, Duke isn’t far behind at No. 6, making this a worthy upset bid
• The Blue Devils are top-5 in offensive efficiency, which should help mitigate Houston’s elite defense
• The Cougars needed overtime to escape Texas A&M in the second round and was majorly out-rebounded, which could show some cracks in the foundation