March Madness betting trends
According to the American Gaming Association (AGA), Americans gamble more than $10 billion on March Madness games every year. Up until this year, roughly $9.7 billion of the money was bet .
Considering that New Jersey and six other states have joined Nevada in launching legal sports betting before their 2019 NCAA Tournament, that amount is going to change appreciably.
Although, the AGA also estimates 10% of Americans age 21 and older, close to 24 million people, wager nearly $3 billion on March Madness brackets through office pools and the like.
Paid office pool mounts are contrary to the law in most states. This kind of NCAA March Madness is ingrained in American culture the numbers are not likely to change soon.
Taking it even further, Forbes Magazine estimates the number of individuals that will place a minumum of one bet on the NCAA Tournament across the globe could be more than 100 million.
The road to March Madness
Before the road to March Madness really starts college basketball teams play with a season of around 29 games.
A total of 68 teams are 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 tournaments, held following the regular season.
Incidentally, you can bet on regular season and conference tournament games at NJ sportsbooks too, given the games do not take place in NJ or demand NJ-based schools.
The 36 teams are bids picked by the NCAA Selection Committee.
The at-large bids are usually awarded to top-ranked teams and others that had an outstanding regular season but failed to win a conference championship.
Read more: dailysportnewspaper.org