Thinking about betting on this year’s NCAA Basketball Tournament? You’re not alone. If you’re wondering how much money will be bet on this year’s March Madness, here’s your answer…
Approximately $12 billion was wagered on last year’s tournament with one quarter of that being bet in office pools.
Compare that number to this year’s Super Bowl, arguably the most wagered on single day sporting event.
$119.4 million was bet on this year’s Super Bowl.
But all these numbers only reflect action reported in Nevada. We can only imagine how much more is bet online by those in North America and even the rest of the world over the course of these next few weeks.
This is a great year to place bets during March Madness, according to Vegas oddsmakers.
"Louisville as a 4 seed? If I was picking, I would take Florida first, and then my second pick would be Louisville," said Nick Bogdanovich, director of William Hill sports books. "Look at two of the 4 seeds? Who would you want over them? On a neutral court, you would bet your life savings on Michigan State or Louisville against Wisconsin."
In regard to the Midwest, where Wichita State got such a raw deal, Ed Salmons, of the LVH Superbook says:
"That's probably the hardest bracket I've ever seen in my whole life. It was a comedy show to watch all the teams they stacked that Wichita State would have to beat to get to the Final Four. It was over-the-top insane."
- Don Shapiro, Gambling911.com
