March Madness tips off this week and 68 million American adults are planning to place bets valued at a collective $15.5 billion according to an American Gaming Association survey.
Americans are planning to wager about $15.5 billion on March Madness this year according to a survey by the American Gaming Association. , the Kentucky Wildcats were the most popular choice to win the national championship with 9% of bettors backing them.
Other favorites include the Texas A&M Aggies with 8%, followed by a three-way tie between the Alabama Crimson Tide, Gonzaga Bulldogs, and UCLA Bruins with 6% each.This file photo from March 15, 2018, displays odds for different bets on the NCAA college basketball tournament at the Westgate Superbook sports book in Las Vegas.
"We’ve seen exponential growth across the board in sports betting engagement, and we attribute that largely to the proliferation of legal sports betting options for Americans," Clark said. "More than half of all American adults can now bet legally on sports in their home market." Clark noted that sports betting is now legal in 36 states plus the District of Columbia whereas five years ago, Nevada was essentially the only place in the country where it was allowed. Sports betting is regulated on a state-by-state basis.will serve as one of the four host sites for the Sweet 16 and Elite Eight rounds of the tournament this year, which will serve as a warmup for the 2028 iteration of March Madness when Sin City will host the Final Four for the first time ever.
This year’s March Madness officially gets underway with the First Four matchups on Tuesday and Wednesday, which will be played in Dayton, Ohio. The 2023 Final Four games and the national championship game will be played at NRG Stadium in
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