Sportsbook performance for March Madness: Who led the charge?

BetMGM led the industry in uptime during March Madness, as confirmed by data from Bettormetrics, which meticulously evaluates the performance of leading betting platforms throughout the NCAA basketball tournament.

In the fast-paced and unpredictable realm of college basketball, sportsbooks are presented with distinct challenges compared to their professional league counterparts. This comprehensive analysis, based on Bettormetrics’ data during the high-stakes March Madness games, scrutinizes major sportsbooks’ performance across key metrics: uptime, pricing strategies, downtime incidents, and crucial in-game availability.

Top Sportsbooks for March Madness Uptime

Leading the pack, BetMGM achieved an impressive 90.1% uptime, showcasing robust platform stability throughout the tournament. Hard Rock closely trailed with 88.3%, while BetRivers rounded out the top three with an uptime of 86.8%. These operators demonstrated resilience, particularly during the tournament’s most volatile moments.

However, despite its leading uptime, BetMGM experienced challenges due to its pricing strategy, potentially rejecting up to 9% of business from frequent price fluctuations. The company spent 10.4% of total fixture durations trading in potentially unprofitable positions, minimized availability known as Off Market Time.

In stark contrast, ESPN Bet (74%) and Caesars (74.6%) faced considerable struggles with uptime. Such inconsistency directly affected bettor experience and trust, particularly during fast-paced, closely contested matches.

In-Play Betting Acceptance and Green Time Performance

Green time indicates the periods when sportsbooks are both online and accepting bets. Hard Rock excelled, reporting an impressive 86.2% in this metric, followed by DraftKings (80.9%) and BetMGM (79.7%). These platforms maintained high availability during pivotal moments, aligning their operational performance with the needs of bettors.

Hard Rock’s ability to lead in green time while maintaining the second-best uptime suggests they are capitalizing on profitable business opportunities more than their competitors. Nonetheless, a standoffish 7% overround indicates potential rejection of numerous bets due to frequent price changes.

Fanatics and ESPN Bet lagged with green time scores of 72.5% and 71.4%, respectively. Bet365 struggled the most, managing only 59.4%—a concerning statistic in such a rapid-fire sport.

Understanding Off-Market Time: A Measure of Risk Sensitivity

Off market time provides insights into how risk-averse each operator is. Hard Rock (2.1%), ESPN Bet (2.6%), and DraftKings (3.8%) maintained relatively low off-market periods, indicating stringent risk controls and a more consistent market presence.

In contrast, Bet365 reported a staggering 19.7% off-market time, revealing frequent betting line removals during uncertain phases. Coupled with their lowest average overround, this highlights a pricing strategy focused on sharpness at the expense of market presence—a significant deviation from other operators.

Competitive Overrounds and Pricing Strategies Among Online Sportsbooks

DraftKings, BetMGM, Caesars, and Bet365 all reported overrounds at or below 5.4%, reflecting a competitive pricing strategy aimed at amplifying market share. Meanwhile, BetRivers and Hard Rock favored higher margins at 7.5% and 7%, respectively, possibly sacrificing user acquisition for increased profitability.

Among operators, DraftKings stands out with approximately 5% overround combined with top-tier uptime and minimal off-market time. This balance between availability and competitive pricing ensures a consistent market presence with controlled risk.

Fanatics, with a slightly elevated overround of 5.8%, has managed to keep pricing competitive while achieving the narrowest gap between uptime and acceptance uptime, indicating stable odds, albeit with a 5% off-market time.

Identifying the Best Risk Managers

Hard Rock emerged as a leading operator, effectively balancing uptime, green time, and low off-market periods despite slightly higher overrounds. BetMGM also showcased strong performance, though its elevated off-market rate presents room for refinement. DraftKings delivered a well-rounded performance, combining strong availability with minimal risk exposure.

Conversely, Bet365’s high off-market time and low green time undermined its competitive pricing initiatives. Caesars and ESPN Bet also faced challenges regarding availability and acceptance uptime, potentially eroding bettor confidence.

Interestingly, ESPN Bet demonstrated a unique blend of minimal unmatched downtime, suggesting that while they frequently suspend markets, they do so with justified caution, trading uptime for careful risk management.

In a tournament characterized by momentum shifts and unpredictable outcomes, maintaining real-time availability and instilling bettor confidence define success. Operators adeptly managing risk while offering competitive odds will undoubtedly command an advantage in this dynamic and high-intensity sector.

Bettormetrics is a pioneering company delivering competitive sports odds intelligence and insights to the sports betting industry. Our brand commitment is to “revolutionize sports odds intelligence.”