With March Madness set to start this week, the American Gaming Association (AGA) has already released some bold predictions about how bettors will indulge in their favorite gaming events.
With some of the most prominent sporting events in the country on their way, it comes as no surprise to hear why Americans are augmenting their betting budgets. That’s what the AGA is already willing to bet on, or at least until the final numbers drop after March Madness comes to an end. Let’s have a look at what should we spect from the NCAA Basketball tournament and you can place your bets against the March Madness Odds.
Men’s College Basketball Tournament Finally Here | March Madness Betting Info
Bets Estimated to be In The Billions
According to the AGA, Americans will be ready to place a total of about $3.1 billion in bets just for March Madness action. The AGA considered the total bets placed offshore and in-land operations to reach this estimate.
This implies that almost 20% of the American population will wager on a specific gaming event this month. Although some might consider these digits off the charts, experts do not consider them unreasonable.
With gradual reopening and the imminent expansion of sportsbooks across the country, expectations are high for the busiest season in American sports during the post-COVID-19 era.
Despite other economic factors currently taking a toll on price indexes, and various products and services, there will be a minimal effect on how betting patterns will shift because of them.
The Story Behind the Numbers
With millions of Americans willing to place a bet during a major sporting event, it’s hard not to question where this hype comes from. It’s also interesting to consider how bettors will approach their wagers. What this whole situation means for American sports and gaming industry providers is even more of a question.
It’s hard to break away from a tradition that dates to 1939 to when the term March Madness was first coined. Although various sporting events seem to coincide, primarily college basketball ignites the spark. With so many schools and teams competing for a National Championship, one can’t help to wonder how odds play against the teams.
With dozens of schools and various conferences reaching the end of the season, it’s all about the size of the numbers. The more teams, the more options to bet. Still, the lower the odds, the higher the pay.
For most bettors, it’s not just about wagering on brackets. Most Americans who have answered surveys claiming they will put some money on March Madness games say they will consider other bets on props. So perhaps it is all about keeping it varied.
According to AGA president and CEO Bill Miller, this year’s March Madness hype will break records. On this basis, sportsbooks will see a spike in activity both in the US and offshore. This means a higher potential for March Madness to break record revenues.
For American sports, these numbers clarify the growing bond between the gaming industry and the course of all national sports leagues. As for sportsbooks, this will be the perfect chance to pull in some solid numbers and extend their reach in the market.