Bettor Up: 45M People In U.S. Will Legally Wager $3.1B On Men’s Hoops Tourney
Monday, March 14, 2022 at 08:35PM By Barry Janoff
March 14, 2022: People across the U.S. are mad about NCAA college basketball, and it is not just because of the brackets.
Some 45 million American adults — about 17% of those eligible to bet — plan to legally wager on $3.1 billion on this year’s NCAA Men’s Div. I Basketball Tournament, according to a new survey from the American Gaming Assn.
Based on recent years, that total will top $8 billion when accounting for all means of betting.
By comparison, 31.4 million people in the U.S. wagered an estimated $7.61 billion on Super Bowl LVI this past February.
“Americans continue to make it clear: They want to wager with the protections of the legal, regulated market.” Bill Miller, AGA president, said via the Washington D.C.-based organization.
Those numbers are actually down from 2021, when AGA said 47.4 million people in America — about 18% of those eligible to bet — planned to wager an estimated $8.5 billion either legally or via other means on men's March Madness.
The Men’s and Women’s Tournaments were not held in 2020 due to COVID-19.
In 2019, 47 million American adults said they also planned to wager $8.5 billion on March Madness, $4.6 billion collectively on brackets and $3.9 billion at a sportsbook, online, with a bookie or with a friend, according to AGA.
Nonetheless, according to Miller, “There’s no doubt this year will generate the highest legal handle in March Madness history.”
The AGA survey does not include the Women’s March Madness Tournament, which is among the reasons why companies such as NCAA partner Unilever and Dick’s Sporting Goods have campaigns to boost awareness for the women’s games.
Unilever brand Degree has unveiled women’s March Madness Bracket Challenge marketing with Candace Parker, WNBA All-Star and two-time NCAA champion (Tennessee), anchored by a “Brackets 101” spot.
A study from Degree showed only 12% of people filled out an NCAA Women's tournament bracket last year.
Separately, Just Women's Sports multimedia platform exclusively dedicated to women's sports is partnering with Dick’s Sporting Goods to award $150,000 to the winner of the 2022 Just Women's Sports x Dick’s Bracket Challenge.
Among those surveyed for AGA, Gonzaga (17%) was the favorite to win the tournament, followed by Duke (12%) and Kentucky (11%).
Gonzaga was also picked as the favorite in 2021 followed by Florida State (11%) and Baylor (8%). Last year, Baylor defeated Gonzaga in the title game, 86-70.
AGA said bettors include those who expect to place a bet online, with a bookie, with a casino sportsbook, casually with family or friends or as part of bracket contest.
This month, 20.9 million people expect to bet on the Tournament outside of bracket contests — at a retail sportsbook, online, with a bookie or casually with friends; while 36.5 million will wager via a bracket contest or similar pool, according to the AGA survey.
In addition, people plan to place a greater share of their bets through non-bracket channels.
“Of their total betting budget on this year’s tournament, Americans expect to place 76% of their wagers outside of brackets, up from 55% last year,” according to AGA.
Since last year’s tournament, 29 million more American adults can legally wager in their home state compared to March Madness 2021 via legislation in Arizona, Connecticut, Louisiana, Maryland, New York, North Dakota, South Dakota, Washington, Wisconsin and Wyoming.
AGA said 30 states and Washington, D.C currently offer live, legal sports betting, with three additional legal markets awaiting launch; while 11 states currently have active or pre-filed legislation to legalize sports betting.
AGA said its “Have A Game Plan. Bet Responsibly” campaign is bringing sports betting stakeholders together to educate fans on how to wager responsibly.
“There’s nothing more thrilling in sports than the magic of March Madness,” said Miller.
“If you’re getting in on the action, have your game plan to bet responsibly. That means setting a budget, keeping it fun, learning the odds and playing legally,”
Morning Consult conducted the online survey on behalf of the AGA between Feb. 26-27, among a national sample of 2,210 adults.
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