In the United States and the American Gaming Association (AGA) trade group has announced that this year’s edition of the NCAA Division I Men’s Basketball Tournament could attract a combined all-time high of some $3.1 billion in sportsbetting wagers.
The advocacy organization used an official Sunday press release to detail that the latest rendering of this annual 68-team collegiate basketball extravaganza, which is colloquially known as ‘March Madness,’ is due to get underway from tomorrow afternoon and is also expected to attract real-money wagers from as many as 45 million Americans.
The AGA explained that its prediction comes following the completion of an online survey conducted by prominent market research firm Morning Consult last month that polled the opinions of 2,210 people over that age of 18 into the upcoming 84th edition of the brown-ball spectacular. The organization disclosed that this commissioned exercise showed that a full 17% of the nation’s adult population are planning to place a ‘March Madness’ wager either with a licensed online or retail bookmaker, as part of bracket contest or casually among family, friends or work colleagues.
Bill Miller serves as the President and Chief Executive Officer for the AGA and he used the press release to divulge that the examination revealed about 20.9 million adult Americans will be looking to lodge a ‘March Madness’ bet outside of a bracket contest although approximately 36.5 million are to continue enjoying this more traditional pool challenge. He moreover noted that a record 76% of punters will likely place a wager through non-bracket channels, which represents a year-on-year swell of 21%, on tournament favorites such as Gonzaga University, Duke University and the University of Kentucky.
Read a statement from Miller…
“Americans continue to make it clear that they want to wager with the protections of the legal and regulated market. There’s no doubt this year will generate the highest legal handle in ‘March Madness’ history.”
The AGA asserted that the jurisdictions of Wyoming, Arizona, Louisiana, Connecticut, North Dakota, Wisconsin, Maryland, South Dakota and Washington have all legalized some form of sportsbetting since last year’s edition of the NCAA Division I Men’s Basketball Tournament. It declared that this growth brought a further 29 million adult Americans into the legitimate sports wagering fold to join compatriots in 21 jurisdictions including Pennsylvania, New Jersey and Illinois that were already able to ‘legally wager in their home state’.
Miller’s statement read…
“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. This means setting a budget, keeping it fun, learning the odds and playing legally.”