March Madness Gambling trends
According to the American Gaming Association (AGA), Americans gamble over $10 billion on March Madness matches every year. Up until this year, approximately $9.7 billion of the money was bet illegally.
Since New Jersey and six other states have joined Nevada in launching legal sports gambling ahead of the 2019 NCAA Tournament, that amount is going to change significantly.
Although, the AGA also estimates 10 percent of Americans age 21 and older, near 24 million individuals, wager nearly $3 billion on March Madness brackets through office pools and the like.
Office pool mounts that are paid are against the law in most states. This kind of NCAA March Madness is so ingrained in American culture the numbers are not likely to change.
Forbes Magazine estimates the number of individuals who will put at least one wager on the NCAA Championship throughout the globe might be more than 100 million.
The road to March Madness
Before the road to March Madness truly begins college basketball teams play a season of up to 29 games.
A total of 68 teams have been chosen by the NCAA to play or play with their way.
The first 32 are automatic bids awarded to the teams that win their respective conference championships, held following the regular season.
Incidentally, you can bet on regular season and conference tournament games in NJ sportsbooks as well, provided the games don’t occur in NJ or demand NJ-based schools.
The rest 36 teams have been forecasts picked by the NCAA Selection Committee.
The at-large bids are usually awarded to top-ranked teams along with others who had a great regular season but failed to win a conference tournament.
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