Americans to bet $2 Billion on 70 million March Madness brackets this year, says new research
The American Gaming Association (AGA) has released new research estimating that Americans will bet more than $2 billion through more than 70 million brackets on March Madness this year. The total number of brackets to be filled out will be greater than the number of ballots cast for either President Obama (66 million) or Mitt Romney (61 million) in the 2012 election.
“Sports betting has played a major role in making March Madness the big-time event it is today,” said Geoff Freeman, president and CEO of the AGA. “With more people filling out brackets than casting a ballot for President Obama – who makes his NCAA predictions in the Oval Office each year – it’s clear that Americans embrace gaming.”
While Americans will bet $2 billion through brackets, the total amount wagered on the tournament is expected to reach $9 billion. Of that amount, $240 million will be bet on the tournament at Nevada sports books.