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Optimove study records 60% March Madness betting rise, mostly existing players

Deals & M&A

Optimove's study of the 2026 NCAA basketball tournaments found betting activity rose 60% during the men's First and Second Round weekend, 19–22 March. Existing customers accounted for 97% of depositing players throughout the tournament through 6 April, while first-time depositors made up 3% during that peak period.

The figures indicate that March Madness betting activity largely came from existing sportsbook customers rather than first-time depositors.

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Regulation

AGA estimates under-21 users generated $8.844 billion in Kalshi sports trading

The American Gaming Association estimated that Kalshi users aged 18 to 20 generated more than $8.844 billion in sports-related trading volume through 27 October, based on a 4% figure the association said Kalshi had published and later changed. The AGA argues that users aged 18 to 20 can access these markets despite age limits of 21 for sports betting in numerous US states.

The American Gaming Association (AGA) estimated that Kalshi users aged 18 to 20 generated more than $8.844bn in sports trading volume through 27 October. According to the AGA, the calculation rests on information that Kalshi published on its website and later changed. In that information, the AGA said, Kalshi stated that users aged 18 to 20 accounted for 4% of its trading volume.

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