March Madness Could Bring in Record Handle Industry

March Madness Could Bring in Record Handle This Year

By Amelia Walker Senior Content Writer Updated: 28 March 2022

Amelia Walker Senior Content Writer

Amelia Walker is a Senior Content Writer at Betting.US. She has a law degree and deep knowledge of the gambling laws in the United States. Her mission is to keep players informed about responsible gambling, while her passion for sports helps her create useful guides. Amelia has over a decade of experience in betting, which has positioned her as a trusted voice among our readers.

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According to officials from the American Gaming Association (AGA), March Madness could bring in record sports betting handle this year, with expectations of more than $3 billion being wagered over the course of the event.

These predictions were made just as March Madness kicked off earlier this month with the AGA expecting real money bets from up to 45 million sports fans across the country.

The forecast was outlined in a recent media release from the AGA, and it came after a survey was carried out by the association.

The online survey was carried out through Morning Consult and more than 2,200 people aged 18 and over were polled as part of the research. The results showed that 17 percent of adults across the country were planning to place bets.

The Storm Before the Calm

Many Americans will be keen to make the most of March Madness while they can, as it comes just before the traditional slowdown that lasts until the football season begins later in the year.

With many eager to place bets over the course of this month, the AGA is urging sports fans to bet responsibly.

A statement from Bill Miller, the president and CEO of the association, read:

There’s nothing more thrilling in sports than the magic of ‘March Madness.’ If you’re getting in on the action, have your game plan to bet responsibly. This means setting a budget, keeping it fun, learning the odds, and playing legally.

He also said that Americans clearly wanted to place bets within a legal and regulated market and that he had no doubts that March Madness in 2022 could generate the highest handle in the history of the event. This spells good news for both sportsbook operators and for the states that will collect additional tax revenue as a result.

March Madness represents the storm before the calm, as it comes just after the hugely popular football season, which is then followed by the Super Bowl. After March Madness, there is a period of calm in the world of live sports across the country, with the traditional summer slowdown lasting until the start of football season in September.

Many Bets to Be Placed Online

As is the case with most sports events these days, many of the bets for March Madness will be placed at online sportsbooks. More and more people these days are turning to mobile and online betting rather than placing bets in person, so in states where this is legal, the handle from online sports betting is certain to be extremely high.

Many states have legalized online sports betting over the past two years since the onset of the global pandemic. This has enabled states to collect far more by way of tax revenues from betting, and it has provided huge numbers of sports fans with increased convenience and flexibility.

While COVID-19 restrictions have now eased, many still prefer to go online to place their bets where possible, with huge numbers planning to do this for March Madness.