The American Gaming Association (AGA) estimates as much as $9bn will be wagered this year on the men’s college basketball tournament known as March Madness, which completed its first full day of games on Thursday.
March Madness is widely considered second only to the Super Bowl as America’s most popular sporting event, but when it comes to sports betting, the rankings are reversed.
The AGA said Americans bet $3.8bn on this year’s Super Bowl, a one-day event, compared with the $9bn projected for March Madness which spans more than two weeks.
“Sports betting has played a major role in making March Madness the big-time event it is today,” Geoff Freeman, the AGA’s president and CEO, said in a news release.
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