Key points:
- The AGA has stated that an estimated figure of $3.1bn is set to be wagered during March Madness 2025
- This figure marks a 13.8% increase year-on-year
- March marks the commencing of Problem Gambling Awareness Month in the US
The American Gaming Association (AGA) has released its predicted wagering figures for basketball betting during March Madness, estimating a total of $3.1bn will be spent by Americans during the month.
Indeed, this wagering handle would represent an uptick of 13.8% from the $2.7bn wagered during March Madness 2024 – reflective of the fast-growing US sports betting industry that has thrived since the overturning of PASPA in 2018. Further, this growth comes despite the fact that no new US states have legalised sports betting since last March – although several are currently in the process of passing legislation.
March Madness is centered around the NCAA Division I Men’s and Women’s basketball tournaments which see 68 teams enter into a single knockout tournament competition that leaves only four remaining by the end of the month. As such, not only is March Madness one of the most well-recognised sporting tournaments worldwide – it is also one of the most wagered on.
AGA SVP of Strategic Communications, Joe Maloney, commented: “March Madness is one of the most exciting times in American sports, with fans fired up for both the men’s and women’s NCAA tournaments. As legal wagering expands across the US, more fans than ever have the opportunity to bet legally and responsibly.”
Good to know: Last month, the AGA unveiled a FY24 commercial revenue figure of $71.9bn generated by the US gambling industry – highlighting record growth
Elsewhere in the US market, March represents the commencement of problem gambling awareness month – with the AGA’s 'Have a Game Plan. Bet Responsibly' campaign set to encourage responsible sports betting practices through fan engagement during March.
Maloney added: “’Keep Your Cool,’ our newest ‘Have A Game Plan’ principle, is all about keeping betting fun and respecting the game – no matter how unpredictable March Madness becomes.”
