March Madness Betting To Surpass $9 Billion This Year
PITTSBURGH (KDKA) -- March Madness is expected to bring more than good, clean fun this year.
The American Gaming Association is estimating that a whopping $9.2 billion will be spent betting on the NCAA men's basketball tournament. That impressive number is up from last year.
Casual observers and fans alike will slave over their brackets, and an estimated 70 million sheets will be filled out.
According to the AGA, that number, "will likely surpass the number of ballots voters cast for Donald Trump, Hillary Clinton or any other single presidential candidate in the November election."
Geoff Freeman, AGA president and CEO, said that sports betting "is the new national pastime."
While some of the wagers will be placed legally, the majority is passed through illegal routes.
The AGA states that of the billions that will be wagered this year, only about $262 million will be bet legally at Nevada sports books. The total illegal sports betting market in the United States grew to $148.8 billion in 2015.
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