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NCAA Tournament could generate record $3B in wagers

Sportsnaut
Sports fans bet and watch the first games of the NCAA basketball tournament at the Meadowlands Racetrack on Thursday, March 21, 2019, in East Rutherford.Meadowlands March Madness Gambling
Credit: Danielle Parhizkaran/NorthJersey.com

More than $3.1 billion is expected to be wagered on this year’s NCAA Tournament, according to survey results released Monday by the American Gaming Association (AGA).

Roughly 45 million American adults — more than 17 percent — are expected to bet on the tournament beginning this week, per the AGA.

“Americans continue to make it clear: they want to wager with the protections of the legal, regulated market,” AGA president and CEO Bill Miller said in a statement. “There’s no doubt this year will generate the highest legal handle in March Madness history.”

Compared to 2021, 29 million more adults are eligible to legally wager on tournament games. Since last year’s event, nine more states have come online with legal sports betting.

–Field Level Media