AGA Survey Says Americans Love Betting on NCAA March Madness
A survey recently published by the American Gaming Association (AGA) suggests that Americans absolutely love betting on college basketball. If the survey is to be believed, a total of 47 million Americans will bet on the NCAA Basketball tournament this year with a total of $8.5 billion being spent on bets. Industry pundits have indicated that this is about 40% more money spent than on the Super Bowl last month. Bear in mind, the football championship is the most watched sporting event in the United States. Twice as many people will also bet on the March Madness tournament, meaning that it arguably more far-reaching in the sports betting world.
AGA Says Only Some Bets Will Be Legal
Although Americans will be swept up in the hype surrounding March Madness, they won’t always place bets using legal betting sites. Even though the US Supreme Court made the legalization of sports betting a state matter in May 2018, and seven states have legalized the activity, Americans still prefer using illegal sportsbooks.
It is suggested that about 5.2 million Americans will use offshore sites when betting online and that many of these bettors won’t know that what they are doing isn’t always legal. AGA president and CEO, Bill Miller, states that it is for this reason that the AGA is striving to increase online sports betting legalization in more states.
“These results indicate there’s still work to do to eradicate the vast illegal sports betting market in this country, and we’re committed to ensuring sound policies are in place to protect consumers, like the 47 million Americans who will bet on March Madness,” Miller said.
With sports betting growing across the nation, it seems like it’s only a matter of time before more states legalize the activity. This is especially true with over 149 million entries being made in bracket contests all over the web.
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