VIE 29 DE MARZO DE 2024 - 02:06hs.
College basketball

Americans will wager US$8.5 billion on March Madness

Americans will bet US$8.5 billion on this year’s NCAA men’s basketball tournament, with 1-in-5 adults placing a bet, according to a new survey released by the American Gaming Association (AGA). “During this year’s tournament sports fans are expected to bet 40% more than they did on this year’s Super Bowl,” said Bill Miller, AGA’s president and CEO.

Key findings from the survey, conducted by Morning Consult, predict that 47 million American adults will wager US$8.5 billion on March Madness with US$4.6 billion will being bet on a collective 149 million brackets by more than 40 million people.

Nearly 18 million people will bet US$3.9 billion at a sportsbook, online, with a bookie or with a friend; 4.1 million will place a bet at a casino sportsbook or using a legal app; 2.4 million will bet illegally with a bookie; and 5.2 million will bet online, likely at illegal offshore sites.

“During this year’s tournament – the first in post-PASPA America – sports fans are expected to bet 40% more than they did on this year’s Super Bowl,” said Bill Miller, AGA’s president and CEO.

“Unlike any other sporting event in the country, March Madness attracts millions who fill out brackets, make casual bets with friends or wager at a legal sportsbook, which Americans can now do more than ever before,” he added.

Since the US Supreme Court’s ruling in May 2018, more than US$5.9 billion has been wagered in the now-eight states with legal, regulated sports betting, enabling consumer protections and generating valuable tax revenue for state, local and tribal governments across the country.

“These results indicate there’s still work to do to eradicate the vast illegal sports betting market in this country, and we’re committed to ensuring sound policies are in place to protect consumers, like the 47 million Americans who will bet on March Madness,” continued Miller.

Source: GMB