Betting on March Madness Expected to Break Records | Athletic Business

Betting on March Madness Expected to Break Records

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As more states allow betting on college athletics, this year's March Madness is expected to generate the most betting in tournament history. 

According to the American Gaming Association, as reported by Axios, an estimated 45 million Americans could combine to wager a staggering $3.1 billion on the 2022 men's tournament. 

The latest statistics predict that 36.5 million of those Americans (81 percent) plan to wager via bracket contests, while 20.9 million (46 percent) are expected to bet outside of brackets. 

While bracket betting is up, 76 percent of the money wagered will go towards non-bracket bets, up from 55 percent las year. 

According to these latest numbers, 29 million more Americans can legally bet this year compared to last, with legal markets launching in Arizona, Connecticut, Louisiana, Maryland, North Dakota, South Dakota, Washington, Wisconsin and Wyoming. 

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