PlayUSA 2022 NCAA Tournament could generate 3bn in legal wagering

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Legal wagering on the upcoming 2022 NCAA Men's Basketball Tournament could reach $3bn at regulated sportsbooks, according to PlayUSA

Legal wagering on the upcoming 2022 NCAA Men's Basketball Tournament could arrive at $3bn at regulated sportsbooks, according to PlayUSA.

The company, which focuses on news, analytic thinking and search on the US gaming industry, says that tournament specific wagering could three-bagger the nearly $1bn inwards wagers taken inward on February’s Super Bowl LVI. It could also whirligig the 2021 NCAA Tournament as the most bet-on sporting event in US history.

It is expected that 'tween $2.5bn and $3bn could live wagered crossways the country, a important increase from the estimated $1.4bn placed on in conclusion year’s NCAA Tournament. Such growth, according to PlayUSA.com, is a verbatim reflexion of the development in the US market, which has doubled in size o'er the shoemaker's last year.

“Wagering on March Madness typically dwarfs the Super Bowl, and this twelvemonth the difference could follow dramatic,” said Eric Ramsey, Analyst for PlayUSA.com. “The high betting intensity is a mathematical function of the NCAA Tournament's popularity joined with 67 games played o'er a condensed schedule of just now a few weeks.

“Add inward the proliferation of legalised sports betting crossways the US, and this twelvemonth will easily shatter the register for the to the highest degree bet-on event exercise set utmost yr by Mar Madness.”

The 2020 tournament was cancelled, but the 2019 edition reported an estimated $440m inwards bets, despite just now vii states having sound sports betting.

“Sixty-seven games is a ton of inventory, regular if all those games are played below the banner of a single event,” said Dustin Gouker, Lead Analyst for PlayUSA.com.

“For years, though, Silver State has counted on the first of all weekend of the NCAA Tournament as a ground chance to cast hordes of bettors to brick-and-mortar sportsbooks on the Strip. Vegas will still quarter immense crowds next week, but now rough half of the rural area can buoy acquire inwards on the process without ever so leaving the couch.”