(Indianapolis) – The NCAA men’s basketball tournament is expected to break the sports betting record.
In 2019, only seven states had legal bets. There are now 30, including Indiana, but Epidemic 2020 has canceled the tournament. Last year’s tournament, the first of which you can legally bet on in Indiana, was played entirely in the state of Hoosier.
Jake Garza told gaming research group Plendiana.com that Indiana Sportsbooks managed $ 161 million in basketball betting last March, most of it in tournaments. He says Indiana has hosted more than 67 games, which probably brought even more bets, with fans flocking to Indiana to route for their team – especially those from states that haven’t legalized sports betting.
But while Indiana Sports has received a double boost from betting innovation and its status as an organizer, the All-in-Indiana Tournament may be holding a nationwide bet. With the return to the usual eight sub-regional, four regional, and the first four and final four, Garza expects this year’s handle to double to three billion dollars.
This increase not only reflects the return of the full-blown March Madness, but also reflects the legality of sports betting in five more states since last year’s tournament: Arizona, Maryland, Washington, South Dakota and Wyoming.
Garza still expects Indiana betting to increase by about a quarter. While Purdue is in the tournament for the sixth year in a row, IU is appearing for the first time in six years and Notre Dame for the first time in five years. Garza says it could increase interest in betting.
With 67 games in 20 days, the tournament is traditionally the biggest sports betting event of the year, producing three times more action than the Super Bowl. That doesn’t even count for your office pool.
Post-gambling analysts bet on the wave of bets as the madness returns in March to the first 93.1FM WIBC.