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New data from sports betting supplier Kambi reveals the increasing popularity of Bet Builder products, also known as same-game parlays, among US bettors. The data pertains to the NCAA Men's Division 1 Basketball Tournament, specifically to March Madness, which just finished with Uconn winning the National Championship on the first Monday of April.
During the tournament, the number of custom same-game parlays within bet builders rose by 43% from the previous year, with 55% being multi-builder bets across multiple tournament games. Kambi reported that pre-match bets accounted for 72% of all tournament bets, while live betting comprised 28% of all bets.
In Q1 2023, the split was closer to 53% for pre-match bets and 47% for in-play betting. However, this figure may indicate that the US lags behind other more established markets regarding in-play betting proportions. The most commonly placed bet builds consisted of the same markets as the most popular standalone bets, with spread plus total points being the most popular type of same-game parlay.
The Connecticut Huskies and the San Diego State Aztecs National Championship showdown was the most bet-on match during March Madness. It generated the highest turnover for both Bet Builder and standard bets. The report also reveals that the 2022 FIFA World Cup generated the highest turnover, followed by the NBA and NFL playoffs, March Madness 2023, the same tournament in 2022, and other significant sporting events such as the MLB playoffs, Champions League knockout stages, French Open, and Wimbledon.
Despite the popularity of bet builders, Kambi reported that most pre-match betting turnover during March Madness came from just a few betting markets, with spread bets accounting for 46% of all pre-match turnover. Moneyline and total points bets comprised 27% and 10% of the remainder, respectively, while bets on match winners generated only 3% of pre-match betting turnover.
In-play bets followed a similar pattern, with moneyline, spread, and total points bets comprising the majority of turnover. However, Australian operator PointsBet reported that 59% of all betting handles during the Q1 of its financial year came from in-play betting, suggesting that the US may have room to increase its in-play betting proportions.
Overall, the data from Kambi underscores the growing popularity of Bet Builder products among US bettors. The report provides valuable insights into US sports bettors' betting trends and preferences during March Madness.
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