You Are Here : Home »

Here's How Many March Madness Bets Will Be Made In 2016


March Madness is the trademark nickname for the 68 team tournament organized annually by NCAA to determine the men’s basketball champion. It is one of the biggest sports event of The United States and attracts a huge amount of revenue for NCAA.
Every year a huge number of college basketball fans make pilgrimage to Las Vegas for the NCAA Tournament. Some fans try their luck to win the betting at their local office pools, but the real gamblers head to the Sin City to throw down the gambling action on individual games as well.
The NCAA tournament stands at the second rank after Super Bowl in terms of betting. The opening two days of the game are the real paradise for gamblers with 16 games to bet upon each day.

Now coming to the question that how much money is bet on March Madness 2016?
Betting is extremely become popular in March Madness event. This figure cannot be determined exactly since so much of betting is done illegally through local bookies.
March Madness 2016 Bracket pools have shown that American’s passion for betting fuels during March and they risk around 3 billion dollars annually.
This year the American Gaming Association has estimated  that 40 million Americans will fill out more than 70 million brackets in advance of Thursday’s opening round and the amount will be approximately 9.2 billion dollar on the NCAA tournament through office pools, Nevada sports book and online. This figure of $9 billion is way more than the double of what AGA has estimated to be the Bet of Super Bowl i.e. $3.9 billion. AGA projects that 40 million Americans will fill out at least one bracket, with the majority filling out two. Average bet per bracket will be $29. As per AGA estimates $7 billion out of the $9 billion betting will be done illegally.

Number of March Madness Brackets Filled (2016, Estimated) vs. U.S. Election Candidates' Popular Vote

March-Madness-betting-2016

Over the past five years $294.6 million has been wagered on basketball during this big dance event.
Kind of March Madness 2016 Betting
The first kind of bet is the Bracket pool. Here a group of friends, family or even strangers submit a bracket pool. The entry fee can be anywhere from 1 dollar to as higher as people are willing to go. These are the most common kind of pools in March madness involving lowest amount of money per person.
The second kind is the Player pool.  Player pools are where you pick the players from different teams and earn points on the basis of how many points the players make. The best way to winning these pools is selecting a player who is going to play a lot of matches in the NCAA tournament.
Third kind is betting on individual games- In these kinds there is a point spread which is a number of points set by the odds maker that the favorite has to win by. If they win by less, a bet on the underdog wins.
The fourth kind is Odds to win the tournament - Here one has to take a team’s odd to win the NCAA tournament. You bet a small amount on a team in the hopes of receiving a big pay.
Betting legally or illegally has been one of the biggest source of revenue for NCAA for years. A huge numbers of Americans to win and lose lots of money during the month of March through betting on basketball and the trend is going to continue this year too and too on a bigger scale than ever.
So are you ready to bet on this big dance show? If yes, then test your destiny here.
Via Fortune


NCAA March Madness 20167. "March Madness" is the trademark of NCAA and We're not Associated with them in any way.