FanDuel has souped up its sportsbook for March Madness by adding new product features for its users.
The sportsbook has introduced an enhanced parlay offering that allows bettors to combine selections across multiple rounds of the NCAA tournament into one single parlay.
In practice, it means a user can now combine numerous wagers, such as one team reaching the quarter-finals and another team winning the entire championship, all on the same parlay bet slip.
FanDuel said in a statement that it is the first time that a sportsbook has offered this feature for March Madness, effectively “allowing bettors to turn their bracket predictions into wagers.”
In addition, a new Bet Back Token offers customers a way to salvage their bet if it’s going awry.
If a parlay leg looks like it’s going to miss or other circumstances aren’t going in the bettor’s favor, such as a key player getting injured or a team losing late in a game, users can apply the token to get their wager refunded in the form of bonus bets, up to a certain limit.
Karol Corcoran, SVP and General Manager of FanDuel Sportsbook, said the new features offer customers “unparalleled flexibility.”
“The March tournaments offer a full month of high-stakes college basketball, and while fans’ brackets may be busted after a round or two of tournament games, their bets no longer have to be with the Bet Back Token,” added Corcoran.
AGA predicts $3.1 billion in legal March Madness bets
In case you didn’t know, betting on March Madness is big business.
In its projections released this week, the American Gaming Association (AGA) estimates Americans will wager approximately $3.1 billion between the men’s and women’s tournaments
The AGA’s projection for this year’s tournament is an increase from the $2.7 billion basketball fans spent in 2024.
Earlier this week, prediction market operator Kalshi announced that it will be offering event contracts for the NCAA conference tournaments, which are taking place this week. Kalshi has previously offered futures contracts for March Madness but it now seems that it may look to list singles game contracts for the tournament.
