Americans to bet US$8.5bn on March Madness
A report from AGA revealed that US$8.5 billion will be wagered during the NCAA tournament.
US.- A new survey released on Monday by the American Gaming Association (AGA) has revealed that Americans plan to bet US$8.5 million on the 2019 edition of NCAA men’s basketball tournament March Madness.
The survey conducted by Morning Consult showed that 47 million American adults will bet US$8.5 billion on March Madness, and US$4.6 billion will be wagered on a collective 149 million brackets by more than 40 million people. Nearly 18 million people will wager US$3.9 billion at a sportsbook, online, with a bookie or with a friend.
Moreover, 4.1 million are set to place a bet at a casino sportsbook or using a legal app, while 2.4 million will bet illegally with a bookie and 5.2 million will bet online, likely at illegal offshore sites.
“During this year’s tournament – the first in post-PASPA America – sports fans are expected to bet 40% more than they did on this year’s Super Bowl,” said Bill Miller, AGA’s president and chief executive officer. “Unlike any other sporting event in the country, March Madness attracts millions who fill out brackets, make casual bets with friends or wager at a legal sportsbook, which Americans can now do more than ever before.
AGA said that since the US Supreme Court lifted the federal ban on sports betting in May 2018, more than US$5.9 billion has been wagered in the now-eight states with legal, regulated sports betting, enabling consumer protections and generating valuable tax revenue for state, local and tribal governments across the country.
“These results indicate there’s still work to do to eradicate the vast illegal sports betting market in this country, and we’re committed to ensuring sound policies are in place to protect consumers, like the 47 million Americans who will bet on March Madness,” continued Miller.
The survey was conducted on behalf of the AGA by Morning Consult between March 1-7, 2019, among a national sample of 11,002 adults. The interviews were conducted online, and the data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment and region.
