March Madness continues to be the crown jewel of the U.S. sports betting calendar, and sportsbooks saw massive activity during the 2025 NCAA men’s basketball tournament. According to recent industry data, sportsbooks capitalized on the frenzy, with several operators standing out for their strong performance in both handle and revenue.
Market Leaders in Handle and Revenue
FanDuel emerged as the clear leader in March Madness betting volume, handling an impressive $1.2 billion in wagers throughout the tournament. Close behind was DraftKings, which managed $950 million in bets, reflecting its strong brand presence and expansive market reach. Other notable performers included BetMGM and Caesars Sportsbook, which collectively handled several hundred million dollars in wagers during the event.
The surge in betting volume translated into significant gross gaming revenue (GGR), with FanDuel posting approximately $120 million in revenue for March — a 15% increase year-over-year. DraftKings followed with $100 million in GGR, showcasing the highly competitive nature of the U.S. sports betting market during marquee events.
Factors Driving Growth
Experts attribute the surge in March Madness betting to multiple factors:
Increased mobile betting adoption allows fans to place bets conveniently in real time.
- Expanded betting markets, including prop bets and live in-game wagering.
- Aggressive marketing campaigns by operators offering bonuses and promotions tied to the tournament.
Implications for the Sportsbook Landscape
The 2025 March Madness performance underscores how major sports events continue to drive sportsbook profitability and user engagement. With legalization expanding into new states, the U.S. sports betting industry looks poised for further growth in future tournaments.
Operators are expected to invest heavily in technology and customer experience to maintain market share and capitalize on these high-profile moments.
