College basketball is one of the most popular sport that people in the country love to bet on. Naturally, if you are joining the sportsbook industry, you need to know everything you can about college basketball in the US. You need to learn about the structure of the NCCA Basketball league, from its many divisions to the popular teams, as well as the players. And now that we are getting closer to the Championship season, March Madness betting increases. And you can earn a lot from this season with your very own online sportsbook.
Opening a sportsbook is quite easy with the help of a good pay per head service, so you can still create one today and be able to earn from March Madness betting. How popular is college basketball betting? Let’s take a look at online sports betting in New York. For the week that ends March 19, sportsbooks in New York took in almost $460 million in wagers across only nine online sportsbooks.
March Madness Betting Increases
The $460 million handle is higher than the previous week of $442.7 million. The state is seeing numbers similar to that of the Super Bowl period. The steady increase in handle also coincides with all the exciting college basketball games we are seeing this month. The sportsbook pay per head industry all report seeing higher betting numbers during this time of the year, and college basketball is a huge proponent in the increase of handle.
And college basketball is profitable for sportsbooks in New York. In the week covered in their report, gross gaming revenue is at $39.2 million in that week alone. The hold percentage is at 8.5% for sportsbooks. The numbers for revenue are slightly lower, but that is due to having a 9.1% hold the week before. Given what trends in most pay per head sportsbooks have seen over the years, college betting will continue to drive up the handle all the way to the Championship Game on April 3.