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 season, approximately $9.7 billion of that money was bet illegally.
Since New Jersey and six other nations have joined Nevada in launching legal sports gambling before their 2019 NCAA Tournament, that amount is going to change appreciably.
Although, the AGA also estimates 10 percent of Americans age 21 and older, close to 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. However, this type of NCAA March Madness is so ingrained in American culture that the amounts aren’t likely to change soon.
Taking it further, Forbes Magazine estimates the percent of people who will put at least one bet throughout the globe on the NCAA Championship could be more than 100 million.
The road to March Madness
Prior to the road to March Madness truly begins college basketball teams normally play with with a regular season of around 29 games.
The NCAA selects A total of 68 teams to play or play their way.
The first 32 are automatic bids awarded to the teams that win their respective conference tournaments, held after the regular season.
Incidentally, you can bet on regular season and conference tournament games in NJ sportsbooks too, given the games don’t occur 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 tournament.