When the 2023 NCAA Tournament gets underway, an estimated 68 million American adults are expected to place wagers on it, according to a survey from the American Gaming Association (AGA). Those 68 million Americans will bet an estimated $15.5 billion worth of wagers throughout March Madness in the next few weeks.
According to the AGA data, 31 million American adults will place a traditional bet online, at a physical sportsbook or with a bookie. Meanwhile, 21.5 million Americans will bet casually amongst friends while 56.3 million will compete in a bracket contest.
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“March Madness is one of the best traditions in American sports—and America’s most wagered-on competition,” AGA President and CEO Bill Miller said, regarding the results of the survey, in a press release. “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.”
The 68 million figure means 18 million more people will place wagers on March Madness compared to the recent Super Bowl.
Many Americans will be taking advantage of the fact that sports betting is legal in 33 states and the District of Columbia. Since the 2022 NCAA Tournament wrapped up, sports betting has become legal in Kansas, Massachusetts and Ohio, while Maryland recently launched mobile sports betting.
The data from the AGA survey was collected from March 1-3 among a panel of 2,200 adults.
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Publish Date:2023-03-14 03:58:17
