Betting on March Madness

March Madness 2021 Gambling: By The Numbers

Big question #1: How much will be wagered on this year’s March Madness tournament?

Quick answer: $8.5B

Quick math on the amount wagered by average NCAA March Madness gambler:
1) $8.5B wagered
2) 47.4M Americans will participate
3) $179 per gambler

Estimated sports betting wagers (YoY growth) according to Activate Consulting:
1) 2017 – $5B
2) 2018 – $7B (↑ 40%)
3) 2019P – $13B (↑ 86%)
4) 2020P – $31B (↑ 138%)
5) 2021P – $63B (↑ 103%)
6) 2022P – $102B (↑ 62%)
7) 2023P – $149B (↑ 46%)

Sports Betting Forecasts

Big question #2: How has the sports betting landscape changed since the 2019 tournament?

Quick answer: Sports betting is now legal in 21 states, reaching 45% of the adult population.

Projected Americans filling out brackets vs. betting on NCAA March Madness:
1) Betting – 47M
2) Brackets – 37M

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