March Madness Gambling trends
According to the American Gaming Association (AGA), Americans gamble more than $10 billion on March Madness games each year. Up until this season, roughly $9.7 billion of that money was bet illegally.
Since New Jersey and six other states have joined Nevada in launch legal sports betting before the 2019 NCAA Tournament, that number is going to change appreciably.
Although, the AGA also estimates 10% of Americans age 21 and older, near 24 million individuals, bet nearly $3 billion on March Madness mounts through office pools and so on.
Office pool mounts are contrary to the law in most states. This type of NCAA March Madness is so ingrained in American culture the numbers aren’t very likely to change soon.
Taking it even further, Forbes Magazine estimates the percent of individuals that will place at least one bet on the NCAA Tournament throughout the globe could be over 100 million.
The road to March Madness
Prior to the path to March Madness begins, college basketball teams normally play a regular season of around 29 games.
The NCAA selects A total of 68 teams to play or play with their way.
The first 32 are automatic bids given 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 involve NJ-based schools.
The rest 36 teams have been at-large forecasts.
The at-large bids are usually awarded to top-ranked teams and others who had a great regular season but failed to win a conference tournament.
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