Americans will drop $9 billion betting on March Madness

Americans will drop $9 billion betting on March Madness

March Madness is kicking off, and from your office to the Oval Office, Americans are poised to bet more than ever before on the NCAA men’s basketball championship tournament.

The American Gambling Association, assisted by GfK Custom Research North America, estimates Americans will drop $9 billion betting on the games.

According to the AGA, on average participants will bet on two brackets each at a cost of an average $29 per bracket. Gamblers will wager $2 billion on bracket pools themselves, but many more will likely wager much more on individual games, which is how the American Gambling Association arrives at its $9 billion tally.

NCAA March Madness betting even outdraws the Super Bowl

The $9 billion to be bet on this year’s tournament amounts to more than double what gamblers bet on the Super Bowl, which was closer to $4 billion.

Read more: http://www.businessinsider.com/ncaa-tournament-gambling-projection-2015-3#ixzz3UUmyQrei