As March Madness gets underway, more people than ever now can legally bet on sports.
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The rules for sports betting vary by state. Some states prohibit bets on home-state college teams or the performance of specific players. Others allow bets not only on the outcome of any college games but also on a variety of other things, such as the number of points, rebounds and assists that a particular player will tally.
The American Gaming Association estimates $2.7 billion will be bet this year on the NCAA men's and women's basketball tournaments through legal sports books. Roughly a dozen states bar bets on college games involving home-state teams. Four additional states — Connecticut, Massachusetts, Rhode Island and Vermont — generally prohibit bets involving their own college teams but make exceptions for tournaments.
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