March Madness Wagering Might Reach $10.4 Billion

March Madness in the USA is a period associated with unparalleled levels of gambling activity. This year’s edition started on Tuesday, and according to estimates by the American Gaming Association (AGA), around $10.4 billion will be wagared during the three weeks of the fever.

The figure shows an increase of $1.2 billion as compared to last year but only $295 million of that amount will be bet legally, mainly at sportsbooks in Nevada.

The AGA is an outspoken proponent of legalizing gambling across the country, and highlights the need for adopting betting regulations, especially as far as popular sports such as football and basketball are concerned. 

National Basketball Association commissioner Adam Silver has sided with the AGA, recognizing the increasing presence of gambling in American society. The National Football League still has a stringent no-gambling policy and does not acknowledge the legality of fantasy football, a topic that has sparked an ongoing debate on the amount of skill vs. luck involved in the game being wagered on.

March Madness is to conclude April 1 and 3 at the Final Four in Phoenix.

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