First and second round NCAA Tournament games lead to a nearly 90% increase in the number of sports bettors using betting apps, according to research conducted by Optimove.
The company analyzed the sports betting patterns of nearly 500,000 U.S bettors during last year’s NCAA Tournament. Those bettors placed more than 5 million bets across the duration of the tournament.
Optimove found that first-time depositors are most engaged at the beginning of the event, and bettors are more likely to wager higher amounts if they’ve bet during 10 or more days of the tournament. For operators, keeping a bettor engaged throughout the duration of the tournament can be a challenge.
“To leverage these insights effectively, sportsbook operators are encouraged to adopt targeted marketing strategies and employ journey orchestration techniques,” Pini Yakuel, CEO of Optimove, said in a statement. “With these insights, operators can tailor experiences for first-time depositors, ensuring maximum engagement and retention throughout the tournament and beyond.”
March Madness betting habits 5w355t
The NCAA Tournament field will be revealed Sunday, and it’s no surprise that there’s expected to be a surge in sports betting activity related to the event.
Last year, the American Gaming Association estimated that 68 million Americans would wager $15.5 billion on March Madness. The AGA has yet to share its sports betting estimates for this year’s tournament, but those numbers will likely be released in the next week.
The nearly month-long tournament captivates American sports fans, and there’s been growing interest in the women’s tournament in recent seasons as well. South Carolina (-130), LSU (+650), and Iowa (+650) are the favorites on FanDuel to win the women’s tournament.
On the men’s side, UConn (+480), Houston (+650), and Purdue (+750) are the three teams with the shortest odds to win the championship.
