45 Million Americans to Wager $3.1B on March Madness

By | March 14, 2022

 

More than 17 percent of American adults plan to wager $3.1 billion on this year’s NCAA Men’s Division I Basketball Tournament, according to a new survey from the American Gaming Association (AGA).

“Americans continue to make it clear: they want to wager with the protections of the legal, regulated market.” said AGA President and CEO Bill Miller. “There’s no doubt this year will generate the highest legal handle in March Madness history.”

  • 45 million American adults plan to wager on March Madness.
  • 20.9 million Americans expect to bet on the tournament outside of bracket contests—at a retail sportsbook, online, with a bookie or casually with friends.
  • 36.5 million Americans will wager via a bracket contest or similar pool.

This year, Americans plan to place a greater share of their bets through non-bracket channels. Of their total betting budget on this year’s tournament, Americans expect to place 76 percent of their wagers outside of brackets, up from 55 percent last year.

Since last year’s tournament, 29 million more American adults can legally wager in their home state compared to March Madness 2021 with Arizona, Connecticut, Louisiana, Maryland, North Dakota, South Dakota, Washington, Wisconsin and Wyoming launching new legal sports betting markets.

“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,” Miller added.

Bettors name Gonzaga (17%) as their favorite to win the tournament, followed by Duke (12%) and Kentucky (11%).

 

Background

  • 30 states and Washington, D.C currently offer live, legal sports betting, with three additional legal markets awaiting launch.
  • 11 states currently have active or pre-filed legislation to legalize sports betting.
  • AGA’s Have A Game Plan.® Bet Responsibly campaign is bringing sports betting stakeholders together to educate fans on how to wager responsibly.

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