March Madness Betting Soars Despite Lack of Upsets, Caitlin Clark‘s Absence
LAS VEGAS — Betting on the NCAA men’s and women’s basketball tournaments saw a meaningful increase this year, despite an unusual lack of upsets in the men’s bracket and the absence of Caitlin Clark in the women’s field. major sportsbooks, including BetMGM and Caesars Sportsbook, reported robust wagering activity, signaling the continued growth of interest in college basketball betting.
men’s Tournament Sees Betting Surge Fueled by Top Seeds
BetMGM experienced an 18% increase in betting volume on the men’s tournament, which saw all four No. 1 seeds advance to the Final Four for the first time since 2008. The competitive Final Four matchups,culminating in Florida’s narrow 65-63 victory over Houston,drove significant betting action. The florida Gators, who secured their third championship, were a popular pick among bettors, ranking second only to Duke in terms of money wagered and ticket volume at BetMGM.
However, duke’s semifinal loss to Houston proved to be a key event for sportsbooks. According to BetMGM trading manager Seamus Magee, a considerable portion of the largest future wagers had been placed on Duke to win the championship. The gators’ victory ultimately delighted many fans who had placed their bets on the team.
“Robust” Betting on Men’s Side
Caesars college basketball head Rich Zanco described the betting activity at his sportsbook as “robust,” attributing it to the presence of top-seeded teams in the Final Four and intriguing matchups throughout the tournament, such as Rick Pitino’s St. John’s facing off against John Calipari’s Arkansas Razorbacks. Zanco noted that the tournament lacked significant upsets compared to previous years, allowing the top teams to prevail.
Women’s Tournament Betting Spiked with UConn Victory
On the women’s side, UConn’s dominant 82-59 victory over defending champion South Carolina marked a notable moment but saw a spike in betting interest. Led by star player Paige Bueckers, UConn secured its 12th national title. Bueckers, along with Southern california’s JuJu Watkins, has emerged as a prominent face in women’s college basketball, following in the footsteps of WNBA stars Caitlin Clark and Angel Reese.
BetMGM reported a 10% increase in betting on the women’s tournament this season, with the highest percentage of tickets placed on UConn. The Huskies also ranked second in terms of money wagered.
Caitlin Clark Effect Endures
According to BetMGM sports trader Hannah Luther, the lasting impact of Caitlin Clark continues to drive significant interest in sports betting on women’s college basketball. “Some presumed that with its biggest star departing for the pros, the numbers might decline this season.The opposite turned out to be true,” Luther said.
Zanco echoed this sentiment, stating that “The Caitlin Clark effect carried over to this year and will continue to do so.”
What impact do star players *besides* Caitlin Clark have on March Madness betting volume?
March Madness Betting Soars Despite lack of Upsets, Caitlin Clark’s Absence: Q&A
This Q&A provides further insight into the surge in March Madness betting, inspired by the original article.
Frequently Asked Questions
Q: Why did betting on March Madness increase this year, even without major upsets?
A: Interest remained high due to exciting matchups, top-seeded teams advancing far in the men’s tournament (like all four #1 seeds making the Final Four!), and the enduring popularity of women’s college basketball fueled by stars like Paige Bueckers.
Q: How much did betting increase, and where was the action happening?
A: BetMGM saw an 18% increase in men’s tournament betting and a 10% increase for the women’s tournament.Caesars Sportsbook also reported “robust” activity. Key teams drawing bets included Florida (champions), Duke (despite losing), and UConn in the women’s bracket.
Q: Did Caitlin Clark’s departure from college basketball hurt betting interest?
A: Surprisingly, no! The “caitlin Clark effect” continued to drive interest, proving her impact on women’s basketball betting is lasting. Other stars like JuJu Watkins are also contributing to the sport’s popularity.
Q: What was the impact of Duke’s loss?
A: Duke’s loss to Houston in the semi-finals was a significant event for sportsbooks as manny large future wagers were placed on Duke to win the championship. This meant that the Gator’s win was a positive outcome for many bettors.
Q: Any advice for future March Madness betting?
A: Follow the top seeds, but don’t be afraid to bet on underdogs in the early rounds for potentially big payouts! Also, keep an eye on star players and rivalries, as these frequently enough drive betting interest.
The continued growth in March Madness betting highlights the enduring appeal of college basketball. Get ready for next year – the excitement only continues to build!
