AGA estimates the amount wagered legally during this year's NCAA basketball tournaments will double the amount bet legally on the Super Bowl.
AGA estimates the amount wagered legally during this year's men's and women's NCAA basketball tournaments will double the amount bet legally on the Super Bowl.If the estimates are correct, it represents roughly twice the amount legally wagered on this year’s Super Bowl, according to the AGA’s head of research, Dave Forman.
To calculate its estimate this year, the AGA uses its proprietary commercial gaming revenue database. Its analysis primarily relies on historical state regulatory data relating to college basketball handle and the growth of the overall sports betting market. This is the first time the AGA is estimating the amount wagered legally during March Madness. Until recently, the majority of March Madness action either took place casually among friends and co-workers or was placed illegally with offshore providers. on the 2023 men’s NCAA basketball tournament. Of those, only 31 million adults were expecting to place a traditional sports wager on March Madness through a retail sportsbook, online betting site, or with a bookie.
"March Madness is the biggest and most mainstream betting event of the year, especially with the brackets," Forman said to."But with legal sports betting having been around now for five years and available in almost 40 states, we wanted to turn our focus to the legal market."This year, however, there are even more legal opportunities for Americans to place sports bets during 2024’s March Madness. Five more states legalized sports betting since last year’s tournaments..
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