Rush Street Interactive, the parent company of BetRivers and PlaySugarHouse, has finished developing the game.
Basketball Squares will be very similar to the NFL and NBA versions, only with a focus on the NCAA instead.
The board will contain 100 squares, each with a combination of final scores. The visiting team is represented by the number on the bottom left and the home team is on the top right. If the respective teams’ scores end in the same numbers as the square, it will be a winner.
To receive one of the squares, bettors must wager $20 or more on any game with the Squares icon through the RSI platform.
If the total wagers are greater than $50, the bettor will receive a second square. If the wagers are over $100, they will receive three squares in total.
The squares will also be boosted if the wager includes $20 or more in live bets on the game. The boost won’t be revealed until after the square has won.
A standard winning square will be worth $20 in bonus money for the player, with the boosts ranging from $25 to $10,000 in bonus money.
Richard Schwartz, CEO at Rush Street Interactive, said: "March Madness is one of the biggest sporting events of the year, with fans getting together for watch parties at homes, sports bars and other venues.
"Even casual basketball fans get into the spirit of these games and BetRivers and PlaySugarHouse NCAA Basketball Squares will make watching the college hoops action even more exhilarating for bettors this season."