Over $6bn expected be wagered during March Madness

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Research conducted by the VegasOdds site shows that over $6bn will be wagered on throughout the March Madness basketball tournament. In the results, you can see that betting and gambling is a big reason for planning to follow the tournament.

Overall, 29% of respondents said that their main reason for following March Madness is gambling. To add, 55% of those surveyed said they would be less interested in the tournament if gambling wouldn’t be available.  On top of that, 42% stated that they would place a bet to ‘give me a more interesting reason to watch.march madness 2023

Additionally, on the topic of the ways people plan to bet, 52% of respondents stated that they intend to use an online sportsbook to place a bet on March Madness, whilst 26% said they would bet with work or friends, and 12% plan to bet in-person at a casino or sportsbook. And a share of 10% plan to ask a family member or friend to place a bet on their behalf.

Regarding the budget planned for betting, 52% of bettors plan to wager up to $50 on March Madness. 22% aim to bet between $50-$250, and 16% will bet $251-$500. 8% will bet $501-$1000 whilst 2% intend to wager over $1000 on the tournament.

 

Finally, from the RG (responsible gambling) angle, 33% of bettors in the survey stated they would use their potential winnings to either clear debt or to make up household essential spending. An additional 42% also stated that winning a bet would make them more likely to gamble more often.

Click here and read Let’s get ready for March Madness!

Liga Tarasova has a history of quality assurance and leading teams in an outsourcing company. Currently, she is working remotely as an Editor in Chief for Onlinegamblers.com. She stands for fair and safe gambling for people in the USA. Not long ago, she lived in Malta, the global iGaming hub, and worked at an iGaming company offering cloud-based product and platform services to B2B partners. Liga’s passion is visual arts and interior design.

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