Tyler Schank / NCAA Photos via Getty Images
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.
- After a Supreme Court decision in 2018, which left the decision up to the states, sports betting is now legalized in 38 states and Washington, D.C.
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 gambling has grown since a Supreme Court ruling in 2018 left the issue to the individual states. Last year, they estimated that $2.72billion would be wagered legally on both tournaments. This $3.1billion is more than twice the $1.39billion the AGA predicted would be bet legally on the Super Bowl.
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.
