Americans are all in on March Madness 2023.
According to a projection from the American Gaming Association, Americans will bet $15.5 billion on the NCAA Tournament.
31 million Americans will bet with a traditional sportsbook or casino, while 21.5 million will bet casually with friends.
But perhaps the impressive number of all is the massive 56.3 million that Americans will compete in a bracket contest.
Sports bettors love March Madness. But do they love it as much as the Super Bowl?
Not quite.
The AGA projected on Feb. 7 that 50 million Americans would bet $16 billion on the Eagles vs. Chiefs Super Bowl.
Betting on March Madness 2023?
That’s about a third of the $100 billion betting handle the AGA projected was bet in 2022 (both legal and illegal wagers).
For reference, the AGA projected that just $1.8 billion would be wagered on the World Cup in the fall.
The 2023 projection has yet to be released by the AGA, but it is clear that these two events are the crème de la crème for the sports betting world.
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