Now that sport betting is legal in several states, gamblers are able to legally bet on basketball outside of Nevada. At the moment, sports’ betting is legal in 8 states and they are showing some very promising number. According to Bookie Pay Per Head Industry reports, March Madness Betting is Thriving this year.
Last year, around $10 billion bets were made during March Madness ranging from basketball bracket pools to bets in Nevada. However, the majority of these bets were made illegally and only about $300 million in bets took place in a legal environment. This year, is different because several legal sportsbook have already made reports about non-stop March Madness betting.
The Bookie Pay Per Head industry says around $450 million in bets will be made legally during March Madness this year. This is a 50% increase over the previous year and will keep increasing as more states choose to legalize sports wagering.
Sportsbooks have not yet begun to count the wagers made on March Madness. However, they have been reporting that the betting kiosks are always busy.
2019 March Madness Facts and Statistics
March Madness starts today and by now at least 40 million Americans have filled out a March Madness Bracket. Even though winning a bracket pool has nothing to do with getting a perfect bracket, the odds of getting a perfect bracket are 1 in 9,200,000,000,000,000,000!
Here are some more interesting facts and statistics about this year’s March Madness.
- The television industry is making a $1.28 billion in revenues.
- CBS/Turner Broadcasting paid $19.6 billion for the March Madness TV right for2011 thru 2032
- Cost of a 30 second television commercial last year was $1.7 million
- The average price for a single-game ticket is $258
- The sale of beer increases by 20% during March Madness
- 24% more chicken wings are eaten during the tournament
- 19% more pizza is eaten during March Madness
- The average bet on a March Madness game is between $20-$50