Another week flies by as we have now reached one of the years gambling highlights as March Madness is upon us. And while the Madness will consume many over the next few days resulting in lots of work call-ins, there is plenty else going on in the world of sports to keep punters of all levels with plenty to fire on. The NBA is just over 10 games before they begin their second season with postseason basketball. Major League Baseball is days away from starting its opening series in Japan as the A's and Mariners will play a two-game set. The remainder of teams will kick off the following week as baseball is finally here. And legalized sports betting continues to dominate the US gambling landscape as expansion continues. Enough small talk around the matter, let's dive right in and take a quick look around the industry in this week's Gambler's Report.
Betting NCAA Tournament Tips Relating to Seeding - Rounds 1 and 2
Everyone Has One
Favorite schools, color, or even mascot, everyone has a rationale of some sort as they fill out brackets for various office pools. Approximately 47 million Americans are expected to wager some part of a combined $8.5 billion on March Madness. While the expanded US market will handle more of this action than in years past much is still expected to be wagered at various offshore shops as well. A recent report from gaming analysts Eilers and Krejcik estimated that if all 50 US States had legal online betting that sportsbook would handle up to $15.2 billion in total wagers just for the Madness.
New Jersey's New King
For the first time since online sports betting began the state of New Jersey has a new leader in terms of revenue. Previous months have had online sportsbook Draftkings as the leader but DFS rival Fanduel took over the top spot for February. Fanduel is helped by their physical location being a mere 6 miles from one of America's most populous cities in New York.
Betting Tips For College Basketball Post-Season Tournaments
Can't Lose Them All
Sticking with New Jersey reveals the shocking revelation from February showing how poorly most of the states retail sportsbooks performed for the month. The only sportsbook that could call February a success is Fanduel at the Meadowlands which declared revenues just under $1.5 million. The Borgata was on the other end of the spectrum paying out $715,727 more than it took in. Monmouth Park was also a loser posting a loss of over half a million dollars.
A quick look around a few industry payout reports for March shows most everything going out within stated timeframes. Bitcoin remains the most efficient way to both deposit and withdraw funds, with many transactions reported within hours instead of days or weeks.
Good time of year for deposits as many books are offering healthy bonuses and various March Madness contests. Bovada currently has a 50% up to $500 deposit bonus. Intertops is also offering a 50% March Madness Bonus and also has a $25k March Madness Bracket Contest. As always, make sure you do your due diligence when looking to deposit into a book.