With March underway, the NCAA Tournament looms closer each day. And as the season reaches its most exciting time, the next few weeks will also be a major highlight for college basketball betting.
Though straight bets on over/unders and spreads – plus always-exciting parlays -- certainly will pour in as usual, there are voluminous other gambling opportunities on the immediate horizon.
Namely, millions of people will fill out a “March Madness” bracket.
To that end, gaming entity 888Sport announced Monday that it will provide a “March Madness Brackets” predictive game this year.
Players will be rewarded for correctly selecting the winners of NCAA Tournament games, earning money for each pick instead of the traditional style of accumulating points.
As a result, 888Sport subscribers will get betting tokens bases on correctly predicting a pre-determined number of winners for each round of the tournament, which starts March 19.
Bettors will earn $5 for 6-11 winners in the first round, $10 for 12–17, $15 for 18–25 and $50 for more than 25. The increments will increase for each round.
According to an 888Sport press release, “participation requires the placement of a $50 bet per round, with cumulative odds of at least -200 to qualify” to win additional free bets. However, all bettors that complete the requirements will get a $5 token after the first round.
Such news is hardly a surprise, considering the popularity of the NCAA Tournament. And 888Sport is certainly in store for a major revenue bump through legalized wagers for this event.
It is worth noting, though, that last year’s tournament saw more than $10 billion wagered, 97 percent of it illegally, according to the American Gaming Association. Because more gambling operators can get in on the action legally going forward, it is only a matter of time before entities follow 888Sport’s lead. The ongoing conference tournaments are sure to build interest as well.
After four play-in games, two each on March 19 and 20 (which the NCAA calls the “First Four”), the 64-team first round proper begins March 21. The Final Four semifinals are April 6 and the championship game is April 8.