March Madness betting trends
According to the American Gaming Association (AGA), Americans gamble over $10 billion on March Madness games every year. Up until this year, approximately $9.7 billion of the money was bet .
Considering that New Jersey and six other nations have joined Nevada in launch 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, near 24 million people, wager nearly $3 billion on March Madness brackets through office pools and so on.
Paid office pool mounts are against the law in most states. This kind of NCAA March Madness is ingrained in American culture that the numbers are not likely to change.
Forbes Magazine estimates the number of individuals who will put a minumum of one bet on the NCAA Championship could be more than 100 million.
The road to March Madness
College basketball teams normally play with with a regular season of up to 29 games prior to the road to March Madness truly begins.
The NCAA selects A total of 68 teams to either play or play 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 at NJ sportsbooks as well, given the games don’t take place in NJ or demand NJ-based schools.
The 36 teams are at-large forecasts.
The at-large bids are usually given to top-ranked teams and others that had a great regular season but failed to win a conference championship.