Mar 15, 2022 - Sports

March Madness betting expected to set record

Sports betting laws, by state
Reproduced from American Gaming Association; Cartogram: Axios Visuals

With legal sports betting markets in 30 states plus Washington, D.C., this year's March Madness will generate the most betting in tournament history.

By the numbers: An estimated 45 million Americans could combine to wager $3.1 billion on the 2022 men's tournament, according to the American Gaming Association.

  • 36.5 million of those Americans (81%) plan to wager via bracket contests, while 20.9 million (46%) expect to bet outside of brackets.

Yes, but: 76% of the money wagered will go towards non-bracket bets. That's up from 55% last year — evidence that bettors are engaging in more single-game betting alongside their traditional bracket pools.

State(s) of play: 29 million more Americans can legally bet this year compared to last, with legal markets launching in Arizona, Connecticut, Louisiana, Maryland, North Dakota, South Dakota, Washington, Wisconsin and Wyoming.

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