• Loading stock data...
Thursday, September 18, 2025

68M Bettors Expected to Wager $15.5B in Bets for March Madness

  • Roughly a quarter of all American adults plan to wager on the tournament.
  • Three-quarters of surveyed online bettors say this will be their first time betting on March Madness online.
The NCAA and Power 5 conferences filed an appeal of a ruling in the House v. NCAA NIL case.
Tommy Gilligan-USA TODAY Sports

With the field of 68 set, casual and hardcore bettors alike can turn their attention toward March Madness — where they’ll be part of a massive contingent wagering on the festivities.

A new survey from the American Gaming Association finds that 68 million American adults — or roughly a quarter of that population — plan to bet a total of $15.5 billion on the NCAA Division I men’s basketball tournament.

Within that figure, 56.3 million plan to enter a bracket contest, 21.5 million plan to bet casually with friends, and 31 million plan to place a traditional bet online, at a retail sportsbook, or with a bookie.

The expanded access to legal sports betting — including, most recently, in Massachusetts — is leading to more novice bettors:

Three-quarters of surveyed online bettors say this will be their first time betting on March Madness online.

U.S. Sportsbooks Get Huge Boost From Super Bowl

Several American sportsbooks reported milestones as a result of the increased traffic.
February 13, 2023

The bettors surveyed are also keying in on certain teams to win the national championship: 9% are backing Kentucky, 8% are on Texas A&M, and 6% are taking either Alabama, Gonzaga, or UCLA.

Given March Madness is a multi-week event, it should be no surprise that there are projected to be more bettors than the Super Bowl (50 million).

However, the magnitude of the Big Game brings out the big bets, as the Super Bowl was projected for $500 million more in handle ($16 billion) than the basketball tournament.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Valkyries Debut Season Sets Stage for Free-Agent Buzz

The Valkyries were eliminated in the first round on Wednesday.
Baseball

NCAA Settles With Volunteer Baseball Coaches for $49 Million

A similar suit brought by volunteer coaches of other sports remains open.
Adriunna Brown

Business Is Booming for WNBA’s Top Beauty Pros

A network of stylists is shaping how players look, feel, and perform.

Silver: My Comments About Basketball Highlights Were ‘Misconstrued’

The NBA commissioner spoke at the Front Office Sports Tuned in summit.

Featured Today

Premier Lacrosse League

‘The Circus Is Coming to Town’: Why Upstart Leagues Start on Tour

In their ambitious plans, a traveling schedule is only temporary.
PHILADELPHIA, PENNSYLVANIA - APRIL 19: A detailed view of the MLB Debut patch on the jersey of Patrick Monteverde #44 of the Miami Marlins prior to game against the Philadelphia Phillies at Citizens Bank Park on April 19, 2025 in Philadelphia, Pennsylvania.
September 13, 2025

The Tiny Jersey Patch at the Center of the MLB Rookie Card..

Autographed cards containing a piece of baseball history have upended the market.
September 11, 2025

Eagles-Chiefs Super Bowl Rematch Could Set More NFL Ratings Records

Fox will nationally televise Sunday afternoon’s matchup.
September 10, 2025

ESPN’s ‘MNF’ Ratings Up 8% As NFL Surges to Strong Start

ESPN posts its second-best Week 1 “Monday Night Football” audience.

FanDuel, Jaguars Reach $5M Deal Over Employee Theft

A Jaguars employee stole $20 million and gambled much of it with FanDuel.
Sep 4, 2025; Philadelphia, Pennsylvania, USA; Philadelphia Eagles cornerback Adoree' Jackson (8) tackles Dallas Cowboys wide receiver CeeDee Lamb (88) during the third quarter of the game at Lincoln Financial Field.
September 5, 2025

Kalshi’s $27M NFL Opener Runs Into Tribal Challenge

California Tribes want Kalshi forced to implement geofencing.
Sep 8, 2025; Chicago, Illinois, USA; Chicago Bears quarterback Caleb Williams (18) rushes the ball past Minnesota Vikings safety Theo Jackson (26) during the second half at Soldier Field.
exclusive
September 10, 2025

Americans See Little Difference Between Prediction Markets and Betting

A survey found 85% of respondents believe sports event contracts are gambling.
Sponsored

How World Series Champ Dexter Fowler Became a Premier League Team Owner

Dexter Fowler discusses navigating retirement and embracing new roles as an owner & investor.
Eagles
September 4, 2025

FanDuel Paying $80K for Eagles Trains Amid Transit Funding Fight

The gambling company is giving stopgap transit funding in Philadelphia.
Sep 1, 2025; Chapel Hill, North Carolina, USA; TCU Horned Frogs tight end DJ Rogers (0) catches a touchdown pass as North Carolina Tar Heels defensive back Kaleb Cost (21) defends in the fourth quarter at Kenan Stadium.
September 3, 2025

Polymarket Moves Closer to Reentering the U.S.

There’s yet more prediction markets momentum as the NFL season kicks off.
during the fourth quarter at Memorial Stadium in Clemson, S.C. Saturday, August 31, 2025.
September 2, 2025

Underdog Bets on Prediction Markets With Crypto.com Deal

Sports event contracts will be offered in 16 states.
Rob Bonta
August 29, 2025

Users Sue Daily Fantasy Companies After California Calls Them Illegal

Underdog Sports and Boom Fantasy were separately sued.