NCAA Basket Ball Games Take a New Turn as March Madness Climbs to $10 Billion Already

The American Gaming Association recently announced that the NCAA Basketball Games already attracted $10 billion in the 2018 March Madness tournament since the beginning of the month. The association went on to make known that of the total made so far, only 3% or $300 million worth of  betting money will go through the legal procedure.

As the NCAA March Madness betting lines continue to draw big wagering from Americans across the nation, the public is expected to pot over $10 billion, which will serve as betting wager for now and the upcoming 2018 NCAA Men’s Basketball Championship Tournament that will be held on April 2.

Over the years, tournament enthusiasts have had to follow the no wagering rules laid down by US legislation. However, the US Supreme Court is expected to make its decision soon based on the 1992 Professional and Amateur Sports Protection Act. So far, Americans living in the Nevada state are the only ones that can bet on college basketball games. If the Supreme Court makes a favorable ruling on college basketball wagering then more states are expected to follow Nevada and legalize college sports betting. A decision on whether to legalize betting in college basketball is expected to take place by June 2018 and already sports analysts and other legal experts are of the opinion that the court will lean towards legalization of the sport.

Meanwhile American Gaming Association president and CEO Geoff Freeman said in a press release, “AGA is opening its arms to all stakeholders that are willing to work with us so we can put the illegal betting market out of business and give Americans everywhere a fighting chance to enjoy safe pool betting in 2018 without experiencing any fear of prosecution from the relevant authorities”.    

As sports betting interest continues to rise sharply in the US, 37 states are already under an illegal no sports being pool law while another 13 states can only conduct friendly wagering. Still, there are strict rules that hinder any forms of profit sports-pool betting taking place in any of the American states.

The March Madness NCAA basketball event of $10 billion forecast will focus on sports pool in regards to March Madness basketball brackets. In 2017, almost $3 billion dollars wagering sums in college basketball pool were made by an estimated 24 million people or 10 percent of the US population. Other sports betting such as pick ‘em pools, grid pools, survivor pools or fantasy sports pool that is usually cash based also attract pundits.

A predicted 54 million people that amounts to about almost one-quarter of the adult population living in the US took part in the 2017 pool wagering and wagered close to $18 billion.  

Quantcast