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Gaming survey shows Americans bonkers for March Madness
Goodbye work productivity, hello March Madness.
With the NCAA Tournament set to begin, the American Gaming Association released a survey that revealed 31 million Americans will place a traditional bet on the event either online, at a sportsbook or with a bookie. Another 21.5 million will bet casually with a friend.
A total of 56.3 million people plan to participate in a bracket contest, the survey said.
“March Madness is one of the best traditions in American sports—and America’s most wagered-on competition,” association president and CEO Bill Miller said.
The survey found that 68 million people are expected to bet on March Madness this year, 18 million more than last year. The association said more regulated sports betting over the past few years caused the increase.
Many states have legalized mobile sports betting in the last year, including basketball-crazed Kansas. Thirty-three states and Washington D.C. offer some form of legalized sports betting, the association noted.
The NCAA Tournament will also feature Las Vegas as a regional host for the first time in its history.
A total of $15.5 billion is expected to be wagered on the NCAA Tournament, according to the survey. That is $500 million less than waged on the Super Bowl this year.
Still, the $15.5 billion is a large amount and comparable to the Gross Domestic Product of such countries as Nicaragua and Albania.
The survey found that among bettors, Kentucky (21-11) is the most popular choice to win the national title, receiving 9 percent of the vote. That comes despite the fact the Wildcats are a No. 6 seed and face 21-win Providence in the first round.
Texas A&M, Gonzaga, UCLA and Alabama rounded out the top five most popular choices to win the national title.
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