This March Madness will be bigger than ever from a sports betting perspective.
According to the American Gaming Association, the casino industry’s top lobbying group on Capitol Hill, about 17 percent of American adults, or 45 million people, plan to gamble on the March Madness tournament.
The AGA estimated that $3.1 billion in total will be wagered on tournament.
“This year, Americans plan to place a greater share of their bets through non-bracket channels,” the AGA said. “Of their total betting budget on this year’s tournament, Americans expect to place 76 percent of their wagers outside of brackets, up from 55 percent last year.”
According to the findings, nearly 21 million people expect to bet on the tournament at a retail sportsbook, online, with a bookie, or casually with friends.
Single-game sports betting is legal in more than 30 states.
Since the 2021 tournament, more states have legalized sports betting. Nearly 30 million more Americans can legally wager in their home state compared to March Madness 2021 with Arizona, Connecticut, Louisiana, Maryland, North Dakota, South Dakota, Washington, Wisconsin, and Wyoming launching new legal sports betting markets over the past year.
The AGA commissioned Morning Consult for the study, which was conducted online on behalf of the AGA between February 26-27, among a national sample of 2,210 adults.
The margin of error is +/- 2 percent and greater among subgroups.