HomeSportsStunning Amount of Money Expected To Be Gambled on March Madness: See How Much

Stunning Amount of Money Expected To Be Gambled on March Madness: See How Much

by Sam Gillenwater
NCAA Tournament Basketball
Scott Taetsch | NCAA Photos via Getty Images

There are some events in sports that get qualified as ‘holidays’ when it comes to gambling. March Madness would definitely be considered one of them with the draw of the NCAA Tournament, based on the latest numbers, it’s expected to be a massive turnout at the books.

Per a survey from the AGA, it found that 68 million adults are planning to bet on March Madness. That’s roughly a quarter of the U.S. population. With that population, the estimate is that a total of $15.5 billion will be wagered during the NCAA Tournament.

A big part of that is the easier access to sports gambling nationwide. Massachusetts was the latest state to legalize it as the total number of states has risen to 33.

Another key to it is the fact that it’s a month-long event rather than a single game. With 67 games to be played starting on Tuesday in the First Four all the way until the national championship on April 3rd, there will be plenty of games and lines to pick from at the books over the next three weeks.

With many first-time gamblers getting a taste of it this March, this could be a massive turnout for Vegas by the end of the NCAA Tournament. We’ll have to wait to see just how big it gets, though, once we have our national champion at the start of April.

LOOK: March Madness 2023 Full Bracket Revealed

Sharpen your pencils, review the film and start making your selections. On Sunday, the 2023 NCAA March Madness tournament bracket was released.

Alabama claimed the No. 1 overall seed for this year’s NCAA Tournament. The Crimson Tide will be in the South Region. That makes their host site for the Sweet Sixteen and Elite Eight the city of Louisville.

The other No. 1 seeds went to Houston (Midwest), Kansas (West) and Purdue (East). You can view the complete March Madness bracket below: