March Madness 2026: 60% Betting Boom

The conclusion of the NCAA March Madness tournaments, with Michigan winning the men’s championship and UCLA taking the women’s title, has provided valuable insights into betting behavior during the event. A study by Optimove, a CRM and player engagement platform for the iGaming and sports betting sectors, found that betting on the men’s tournament surged by 60%, with 97% of the activity coming from existing bettors. This indicates that March Madness is primarily a retention-driven event rather than a catalyst for attracting new customers.

Optimove analyzed betting trends throughout the tournament, revealing that during peak betting periods, such as the First and Second Round weekend (March 19-22), only 3% of depositing players were new. This pattern persisted throughout the event, reinforcing the idea that March Madness is a “critical retention opportunity” for sportsbooks. The Final Four weekend saw a 51% increase in betting activity, while the Elite Eight stage experienced a 41% rise. Even the Sweet 16, characterized by fewer but more intense games, saw an 18% uptick in betting volume.

The study highlights the importance of personalized promotions, loyalty programs, and targeted re-engagement strategies for operators looking to capitalize on March Madness. The American Gaming Association (AGA) had previously estimated that Americans would wager a total of $3.3 billion on both tournaments through legal sportsbooks. Meanwhile, Kalshi, a prediction market platform, reported $1.2 billion in trading volume during the first two days of the tournament.

These insights suggest that while March Madness generates substantial betting activity, the focus should be on retaining and engaging existing customers rather than pursuing new ones. Operators that prioritize tailored engagement strategies are likely to see the most significant returns during these high-activity periods.