It’s one of the most exciting times of the year for sports bettors – the NCAA tournament.
According to the American Gaming Association, about 68 million Americans plan to wager some $15.5 billion on the tournament.
The AGA published a new survey that indicates 31 million American adults will place a bet either online, at a retail sportsbook or with a bookie. Another 21.5 million plan to just bet casually with friends.
The boom is due in large part to the fact that sports betting has become legalized in more and more states. It’s currently legal in 33 states and D.C.
“March Madness is one of the best traditions in American sports—and America’s most wagered-on competition,” AGA president and CEO Bill Miller said in a statement. “Critically, the expansion of regulated sports betting over the past five years has brought safeguards to more than half of American adults who can now bet legally in their home market.”
The AGA reported that among bettors, Kentucky is the most popular choice to win the national championship in Houston. Texas A&M, Gonzaga, UCLA and Alabama rounded out the top five.
