March Madness Expected to Generate $2.72B in Legal College Hoops Bets

This year’s Mar Madness tournaments testament generate to a greater extent legal bets inwards the United States than of all time before, as sports betting is now regulated in 38 states positive Washington, DC.

The 2024 NCAA Division 1 men’s and women’s basketball game tournaments steer away Tuesday dark with the men’s First Four games. The women’s square bracket gets underway on Wed with the First Four play-in contests.

On the men’s side, the top-seeded University of Connecticut Huskies are the favorites at +360. The 3 other No. 1 seeds are Sam Houston (+550), Purdue (+700), and Frederick North Carolinas (+1300). Arizona, a two-seed, has more or less shorter odds of slip down the nets than UNC at +1200.

The men’s Final Four will occupy come in at State Farm Stadium inward Glendale, Ariz.

On the women’s side, the undefeated South Carolinas Gamecocks are the sound favorites at -140. Iowa, highlighted past Caitlin Clark’s historical and record-breaking season, is a remote endorsement at +550.

LSU, which got entangled inward a scuffle close the final stage of their SEC title friction match with South Carolina, is tertiary at +750. Lone-Star State and Leland Stanford round out out the top off quintet at +1500.

Record Action

The American Gaming Association (AGA) expects US adults to de jure wager a book $2.72 1000000000 on this year’s men’s and women’s March Madness tournaments. The anticipated enter is due to heightened stake inward the women’s spirited and to a greater extent legal sports betting outlets today than ever before.

At this clip lastly year, quint fewer states allowed bettors to set legal, regulated nontribal sports bets. Since lastly year’s Mar Madness, Florida, Kentucky, North Carolina, Nebraska, and VT all joined the commercial message sports betting industry.

As from each one tell goes online, we’re seeing that migration of Americans from the illegal market to the legal marketplace, and that’s driving demand,” said Cait DeBaun, the AGA’s vice chairwoman of strategical communication theory and responsibility.

While the NFL Super Bowl is the to the highest degree bet bingle spunky from each one yr inward the US, March Madness is the largest betting event. Along with the estimated $2.72 one thousand million inwards legal bets on the college hoops tournaments this year, the AGA believes another $15 one million million testament follow play through unregulated channels similar bookies, seaward sportsbooks, and amongst friends via bracket challenges.

Clark Effect Fueling Surge

Fox Sports disclosed earlier this month that its women’s hoops reportage this twelvemonth outrated its men’s games.

The women’s games averaged 981K viewers piece men’s games attracted an mediocre of to a lesser extent than 950K viewers. George Fox covered a record book 14 women’s games and around 40 men’s games.

Games involving Hawkeye State and Mark Wayne Clark fueled the surge. The Hawkeyes’ 93-83 win o'er then-No. 2 OH State in ahead of time March, which saw Kenneth Clark band the NCAA’s all-time scoring mark, attracted nearly 3.4 1000000 viewers. The biz place a unexampled regular-season viewership tape for a women’s college basketball game game.

Women’s hoops television system ratings were up 60% yr over year, Sportico reported.

ABC/ESPN, which is televising the women’s Mar Madness tournament, is hoping for a late run by Iowa. The Hawkeyes begin their following of their 1st NCAA title of respect (they ruined runner-up finally year to LSU) on Sabbatum on ABC at 3:30 p.m. ET at the Carver-Hawkeye Arena inwards Ioway City.

The women’s Final Four testament be played in Cleveland at the Rocket Mortgage Fieldhouse.

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