AGA Projects $3.1 Billion in March Madness Wagers

The American Gaming Association (AGA) has projected that Americans will wager a total of $3.1 billion on basketball betting during March Madness this year. 

This estimated betting volume reflects a 13.8% increase from the $2.7 billion wagered during March Madness 2024, showcasing the rapid growth of the U.S. sports betting market since the repeal of PASPA in 2018. Notably, this growth has occurred despite no new states legalizing sports betting since last March, although several are currently considering legislative measures.

March Madness revolves around the NCAA Division I Men’s and Women’s basketball tournaments, which feature 68 teams competing in a knockout format, culminating in just four teams left by the end of the month. As a result, March Madness is not only a highly recognized sporting event globally but also one of the most heavily bet on.

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Joe Maloney, AGA’s Senior Vice President of Strategic Communications, stated, “March Madness is one of the most thrilling periods in American sports, with fans eagerly anticipating both the men’s and women’s NCAA tournaments. As legal betting opportunities expand across the U.S., more fans than ever can engage in legal and responsible wagering.”

Additionally, the AGA recently announced that the U.S. gambling industry generated a staggering $71.9 billion in commercial revenue for fiscal year 2024, underscoring significant growth.

March also marks the beginning of Problem Gambling Awareness Month in the U.S., with the AGA’s “Have a Game Plan. Bet Responsibly” campaign aimed at promoting responsible sports betting practices through fan engagement during this time.