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45 Million Americans to Wager $3.1B on March Madness

March 20, 2022 | Gambling

WASHINGTON, D.C. (March 13, 2022) – More than 17 percent of American adults plan to wager $3.1 billion on this year’s NCAA Men’s Division I Basketball Tournament, according to a new survey from the American Gaming Association (AGA).

“Americans continue to make it clear: they want to wager with the protections of the legal, regulated market.” said AGA President and CEO Bill Miller. “There’s no doubt this year will generate the highest legal handle in March Madness history.”

  • 45 million American adults plan to wager on March Madness.
  • 20.9 million Americans expect to bet on the tournament outside of bracket contests—at a retail sportsbook, online, with a bookie or casually with friends.
  • 36.5 million Americans will wager via a bracket contest or similar pool.
  • This year, Americans plan to place a greater share of their bets through non-bracket channels. Of their total betting budget on this year’s tournament, Americans expect to place 76 percent of their wagers outside of brackets, up from 55 percent last year.

Since last year’s tournament, 29 million more American adults can legally wager in their home state compared to March Madness 2021 with Arizona, Connecticut, Louisiana, Maryland, North Dakota, South Dakota, Washington, Wisconsin and Wyoming launching new legal sports betting markets.

“There’s nothing more thrilling in sports than the magic of March Madness. If you’re getting in on the action, have your game plan to bet responsibly. That means setting a budget, keeping it fun, learning the odds and playing legally,” Miller added. Bettors name Gonzaga (17%) as their favorite to win the tournament, followed by Duke (12%) and Kentucky (11%).

Background

  • 30 states and Washington, D.C currently offer live, legal sports betting, with three additional legal markets awaiting launch.
  • 11 states currently have active or pre-filed legislation to legalize sports betting.
  • AGA’s Have A Game Plan.® Bet Responsibly™ campaign is bringing sports betting stakeholders together to educate fans on how to wager responsibly.

Methodology

Morning Consult conducted the online survey on behalf of the AGA between February 26-27, among a national sample of 2,210 adults. The data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment and region. The margin of error is +/- 2 percent and greater among subgroups. Bettors include those who expect to place a bet online, with a bookie, with a casino sportsbook, casually with family or friends or as part of bracket contest.

About the AGA

The American Gaming Association (AGA) is the premier national trade group representing the $261?billion U.S. casino industry, which supports 1.8 million jobs nationwide. AGA members include commercial and tribal casino operators, suppliers and other entities affiliated with the gaming industry. It is the mission of the AGA to achieve sound policies and regulations consistent with casino gaming’s modern appeal and vast economic contributions.

SOURCE: American Gaming Association

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