AGA estimates Americans will wager $3.1bn on NCAA March Madness
The American Gaming Association´s survey has found that 17 per cent of American adults plan to wager on the basketball competition.
US.- The American Gaming Association (AGA) has estimated that 45 million Americans plan to wager on this year’s NCAA March Madness basketball tournament. That’s 17 per cent of American adults. They plan to bet $3.1bn.
The study also found that 20.9 million plan to bet on the tournament outside of bracket contests, at a retail sportsbook, online, with a bookie, or casually with friends, while 36.5 million will wager via a bracket contest or similar pool. Of their total betting budget for this year’s tournament, Americans expect to place 76 per cent of their wagers outside of brackets – an increase of 55 per cent compared to last year.
Bill Miller, AGA president and CEO, said: “Americans continue to make it clear: they want to wager with the protections of the legal, regulated market. There’s no doubt this year will generate the highest legal handle in March Madness history.
“There’s nothing more thrilling in sports than the magic of March Madness. If you’re getting in on the action, have your game plan to bet responsibly. That means setting a budget, keeping it fun, learning the odds and playing legally.”
On behalf of the AGA, Morning Consult conducted the online survey between February 26 and 27 among a national sample of 2,210 adults. Since last year’s tournament, 29 million more American adults can legally wager. Arizona, Connecticut, Louisiana, Maryland, North Dakota, South Dakota, Washington, Wisconsin and Wyoming have launched new legal sports betting markets since March 2021.
In December, AGA published the latest edition of its Commercial Gaming Revenue Tracker. The monthly report showed that October was the US commercial gaming industry’s second-strongest month ever, with $4.75bn in traditional casino gaming, sports betting and igaming revenue.
