Key Takeaways
- An estimated $3.1 billion will be legally bet on this month’s “March Madness” men’s and women’s college basketball tournaments.
- That’s up from $2.72 billion last year, according to estimates from the American Gaming Association.
- Sports betting is now legal in 38 states plus Washington, D.C., after a 2018 Supreme Court decision left the issue for states to decide.
Americans are expected to legally wager roughly $3.1 billion on this year’s “March Madness” college basketball tournaments, according to estimates released Thursday by the American Gaming Association.
Legalized sports betting has exploded since a 2018 Supreme Court decision left the issue up to the states. Last year, the group estimated that a total $2.72 billion would be legally wagered on the two tournaments, and the $3.1 billion is more than double the $1.39 billion the AGA estimated would be legally bet on the Super Bowl last month.
The growing legality and surging popularity of the NCAA Division I women’s basketball tournament are factors expected drive more betting activity this year. Last year, the women’s championship game had a higher viewership rating than the men’s.
“March Madness is one of the most exciting times in American sports, with fans fired up for both the men’s and women’s NCAA tournaments,” AGA SVP of Strategic Communications Joe Maloney said. “As legal wagering expands across the U.S., more fans than ever have the opportunity to bet legally and responsibly.”
The men’s and women’s brackets will be unveiled on Sunday. The men’s tournament will start on March 18, while the women’s tournament officially tips off a day later.
