The American Gaming Association (AGA) forecasts an all-time high of $3.1 billion in legal wagers for the upcoming NCAA Men’s and Women’s Basketball Tournaments, showcasing significant growth and the increasing popularity of March Madness betting.
This surge in legal sports betting is bolstered by the addition of new markets. States like Arizona, Connecticut, Louisiana, Maryland, North Dakota, South Dakota, Washington, Wisconsin, and Wyoming have recently launched legal sports betting, dramatically increasing the accessibility for 29 million more American adults compared to two years ago. This expansion is part of a broader trend that has seen 30 states and Washington, D.C., offering live, legal sports betting, with three more states poised to join.
Thirty American states and Washington, D.C currently offer live, legal sports betting, with three more legal markets awaiting launch shortly. Another eleven states currently have active or pre-filed legislation to legalize sports betting.
Betting Dynamics and Consumer Behavior
The AGA’s survey indicates that 45 million American adults plan to participate in this year’s betting, with a notable shift toward non-bracket betting methods. Approximately 76% of all wagers are expected to be placed through channels outside of traditional bracket contests, up from 55% last year, illustrating a diversifying betting landscape.
Favorites such as Gonzaga, Duke, and Kentucky are drawing significant betting interest. This diverse interest across different teams and betting formats highlights the evolving nature of consumer engagement with March Madness.
Responsible Gambling and Public Awareness
In response to the growing betting landscape, the AGA is intensifying its efforts to promote responsible gambling. The “Have A Game Plan. Bet Responsibly.” campaign, especially active during March—which doubles as Problem Gambling Awareness Month—emphasizes the importance of responsible betting practices. These include setting a budget, understanding the odds, and betting through legal channels.
Technological Innovations and Market Growth
The market this year is also witnessing technological innovations such as the introduction of event contracts by Kalshi for NCAA conference tournaments, a first in the industry. These new betting options are generating considerable interest and are expected to contribute to record betting totals.
March Madness 2025 represents not just a peak season for college basketball excitement but also a pivotal moment for the sports betting industry. With legal betting now more accessible and diverse than ever, combined with strong initiatives to ensure responsible gambling, this year’s tournament is poised to make a significant impact on the sports and betting industries alike.