American Gaming Association (AGA) has released a March Madness US sports betting prediction. According to its new survey, 68 million players plan to bet $15.5 billion on this year’s NCAA Men’s Division I Basketball Tournament.
The number of bettors is close to one-quarter of all American adults. They can bet on a wide selection of legal US online sportsbooks that grows yearly. AGA President and CEO Bill Miller said:
“March Madness is one of the best traditions in American sports—and America’s most wagered-on competition. Critically, the expansion of regulated sports betting over the past five years has brought safeguards to more than half of American adults who can now bet legally in their home market.”
On behalf of the AGA, Morning Consult conducted the online survey from Mar. 1-3, with a national sample of 2,200 adults.
Half of American adults can now legally partake in US sports betting
A resurgence of bracket contests mostly drives the growth in March Madness betting. It is also thanks to the expansion of legal US sports betting.
Three-fourths of online bettors say this will be their first time betting on March Madness online. Here’s AGA’s prediction:
- 31 million American adults plan to place a traditional sports bet online, using a retail sportsbook or a bookie
- 21.5 million plan to place bets casually with friends
- 56.3 million plan to participate in a bracket contest
Compared to last month’s Super Bowl, 18 million more American adults plan to gamble on March Madness. But AGA expects half a billion dollars fewer bets on the tournament compared to the Big Game.
Gambling on March Madness is now legal in three new states
Since last year’s tournament, three US online gambling markets have launched retail and online sports betting markets:
- Massachusetts (only online sports betting)
Only a few states allowed betting on in-state college teams two years ago.
Currently, 33 states and Washington DC offer legal sports betting, with three additional legal markets awaiting launch. In other words, 57% of American adults (146 million) live in a legal sports betting environment.
Most popular picks to win the title
With 67 games spread across three weeks, this year’s March Madness will be the first to feature Las Vegas as a regional host location. Among bettors, these are the most popular choices to win the national title:
- Kentucky (9%)
- Texas A&M (8%)
- Gonzaga, UCLA and Alabama (6%)
Since March Madness is the most popular time of the year for sports betting, AGA reminds all players to bet responsibly.