BetMGM: March Madness Betting Outperformed Super Bowl 58

Yeah, you read that right. The most bet-on (and most-watched) sporting event was dethroned this year, at least at BetMGM Sportsbook. Plus, the tournaments proved record-breaking in other areas. The women’s tournament was BetMGM’s most bet-on women’s NCAA tourney in history, and it included some of the most bet-on women’s events ever.

Seamus Magee, Trading Manager for BetMGM, said:

“The 2024 NCAA women’s championship broke BetMGM’s record for the most bet women’s sporting event of all time, capping off a special tournament for the game and for the sportsbook. Caitlin Clark and Iowa generated an unbelievable amount of interest which translated into this being the most bet NCAA Women’s Tournament in BetMGM history.”

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Three Most Bet-On Women’s Events in BetMGM History

The top three most wagered women’s events at BetMGM all came from the 2024 women’s NCAA tournament:

1. Iowa vs. South Carolina (Championship)
2. Iowa vs. UConn (Final Four)
3. Iowa vs. LSU (Elite 8)

You might notice a common denominator there. The Iowa Hawkeyes, led by Superstar Caitlin Clark, were the stars of the show this year despite falling to South Carolina in the championship. In fact, Caitlin Clark set betting records in the prop department, too.

Player props on Caitlin Clark were the most bet in the NCAA tournament, spanning both the men’s and women’s tournaments.

Clark has a whopping 80% more bets than Zach Edey (2nd most) and 380% more than DJ Burns Jr. (3rd most).

The prop bets on Clark are also notable in light of recent pushes to ban player props in college athletics. NCAA President Charlie Baker wants a blanket ban on all college player props, and some states have already heeded the call. Ohio, for example, prohibits such bets on college players. Betting on next year’s tournament could look a lot different if other states follow suit.

Additionally, there was a 29% increase in women placing bets on the NCAA women’s tournament compared to last year.

NCAA Tournament Betting Outperformed the Super Bowl

BetMGM said “nearly 4x as many bets” were placed across the men’s and women’s March Madness tournaments as were processed for the 2024 Super Bowl.

It’s an impressive stat, sure, but take it with a grain of salt. The Super Bowl is a gargantuan betting event, but it’s also a single game that takes place on one evening in February. The NCAA Tournaments span multiple weeks and include dozens of games. Factor that in, and it’s not too surprising more bets were placed. There’s also the added factor of North Carolina sports betting, which likely brought many new bettors into the fray, particularly in a college-basketball-heavy state.

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