A Cultural Phenomena
Every March, a unique energy grips audiences on both sides of the Atlantic as part of an annual ritual involving two sports. Whether it's in the office, the local bar, or in a WhatsApp group, those who rarely follow sports join the conversation – debating form, making bold predictions, and picking their winners. Certain selections are based on dogged analysis, some on hopeful intuition. The outcomes of both are decided on the first weekend of April.
Despite these commonalities, the two sports exciting fans – US college basketball and UK horseracing – couldn’t be more different. The former is a knockout tournament comprising 68 teams who play NCAA Division I college basketball, first conducted in 1939, and pitches elite institutions against emerging underdogs within a seven-round bracket format. The latter asks 34 horses of varying sizes to jump 30 fences, completing a 7km (4.4mile) race that was first run in 1839.
Though they differ greatly, both have transcended their respective sports to become cultural phenomena, uniting fans in the exhilarating pursuit of the unpredictable and generating recreational betting interest from those that might only place one bet a year.
Generating National Engagement
It is said that up to 100m people in the United States fill out March Madness brackets each year, mostly for fun but, in some cases, for the chance to win money from a pool or through a bet. This widespread participation is a testament to the event's popularity and cultural significance, making it the second most bet on sporting event in the U.S. after the Super Bowl.
Jonathon Price, a Sports Trader at FanDuel, pinpoints one of the reasons why it captivates U.S. sports fans: “The first weekend has a massive number of games in such a small window. This really resonates with sports fans, who enjoy the first two days in particular given there are four games on at once for 12 hours. The constant action of games ending and starting makes for a great viewing experience.”
CBS college basketball insider Jon Rothstein echoes this sentiment, emphasizing the unique format of the tournament: “It can be a one-game tournament for any team, which makes it so fun. Things can change so drastically in 40 minutes; it’s much different than a seven-game series.”
Amplifying The Thrill
The tournament isn’t just about the games themselves – it’s about being part of a national event, where every bracket filled out and every bet placed gives fans a rooting interest in every game. For many, those picks go beyond statistics - loyalties are tied to alma maters, hometown schools, or even family traditions, with fans backing teams their parents or friends once played for, attended, or simply cheered on as kids.
This sense of nationwide participation mirrors the atmosphere of the Grand National. The race – held annually at Aintree in Liverpool – is not just for seasoned punters; it’s an event that draws in people from all walks of life. Many place their one and only bet of the year on the race, seizing on to one of many storylines involving horses, jockeys and trainers, or simply picking a name that they like. Coming so late in the UK and Irish jump season, This year’s race has added intrigue as it may be decisive in the maiden, Flutter-sponsored ‘David Power Jockey’s Cup’, where the season’s most successful jockey will receive a record £500,000 (around $655,000) award.
All this has led to the Grand National becoming the biggest betting event in the UK and has seen around £250 million (around $328m) wagered by over 13m people - roughly a third of the adult population in the UK – in recent years. Unlike March Madness, which is usually won by one of the top-ranked college teams, the unpredictability of the Grand National is that favorites rarely win – just 6 in the last 20 years – and the challenging fences make the outcome impossible to guarantee, further amplifying the thrill.
Statistical Improbability
Both events present a challenge, which adds to their mass market betting appeal. For March Madness, fans attempt to predict the full outcome of a 68-team, single-elimination tournament – an almost impossible task. Its difficulty was on show this year, after an incredible 99.9% of brackets registered online with the NCAA and other sports websites were eliminated on the first night of the tournament, thanks to four lower seeds winning in what was an otherwise predictable first round. In fact, despite all four No. 1 seeds advancing to the Final Four for the first time since 2008 and only the second time in history, there are no remaining registered brackets going into the final weekend.
Price breaks down the astronomical odds of getting a perfect bracket: “If every game was a coin flip, the odds would be 1 in 9.2 quintillion (one quintillion is one billion billions), but a rough estimate is a 1 in 120 billion chance if you know a little about basketball.” Rothstein adds his own take on the art of predicting the winner: “Guessing and luck! The more you know about this stuff—the worse you’re going to do!”
"Nothing more special"
The Grand National presents a similar test. With so many fences and a massive field of competitors, even the most knowledgeable racing fans struggle to predict a winner. It is a race that has produced unfancied winners and shocking upsets, reinforcing the idea that anything can happen. In fact, over the last twenty years, the average winner has been priced at around 23-1.
Victoria Gibbins, a paddock analytical expert for Trackside, captures the spectacle: “There is nothing more special than the atmosphere of Aintree Racecourse on a Grand National day – the sound of hooves thundering down to the first jump, the loud cheers of a jubilant local crowd and the sight of top-class chasers looking to book their place in the history books after a win over the famous fences.”
A Shared Passion for the Underdog
What makes March Madness and the Grand National so special is their ability to turn even the most casual fan into an engaged participant. Whether it’s the slow-burning drama of a Cinderella team making an improbable Final Four run or the heart-stopping chaos of a 34-horse steeplechase, both events thrive on possibility of upsets. Notable underdog stories – like UMBC's historic victory in March Madness 2018 and unexpected Grand National winners like 100-1 shot Mon Mome in 2009 – become part of sports lore, captivating audiences worldwide.
Price notes, “I think in general sports fans either love the idea of a top team making history or big upsets, seeing underdogs winning and making a run. This year has been mostly dominated by the top seeds, but when small teams go on deep runs in March Madness, you really can feel the whole nation get behind them and root for them." Similarly, the Grand National's unique format and size makes it a communal event, with people gathering to watch and bet on the race.
Rothstein agrees: “Everyone wants to be a winner. Everyone wants someone to root for. Everyone wants to have a dog in the fight.” This fundamental desire to be part of something bigger fuels the enthusiasm behind both events. Just as March Madness produces unbeatable champions and compelling underdog stories that are recounted for decades, the Grand National immortalizes both multi-time winners and unexpected triumphs in racing history.
For companies like Flutter Entertainment, which operates FanDuel in the US and major UK betting brands like Paddy Power, Sky Bet, and Betfair, these two events highlight why mass market sporting spectacles attract recreational punters. The thrill of uncertainty – whether in a carefully crafted bracket or a spontaneous Grand National flutter – adds another dimension to the excitement. For many, it's not about the potential winnings but taking up the challenge as the drama unfolds on the court or track. Or as Rothstein puts it whilst reflecting on the impossibility of correctly predicting all of March Madness: “When there is no stand-out team, it’s best that you keep a bottle of kerosene near your bracket!”
