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Betting on March Madness

March Madness, the annual NCAA college basketball tournament, is a popular event for sports betting. Here are some recent news updates related to betting on March Madness:

- According to the American Gaming Association (AGA), nearly 68 million Americans are expected to wager on March Madness, up from 45 million in 2022. Of that number, 31 million plan to bet online, at a sportsbook, or with a bookie, while 21.5 million plan to bet casually with friends.

- The AGA predicts that total bets on the tournament will be roughly $15.5 billion, slightly less than the $16 billion wagered on this year's Super Bowl.

- WalletHub estimates that there will be more than $10 billion worth of gambling around the 2023 edition of the NCAA Tournament, with over 50% of people in the U.S. placing online wagers on the event.

- Some states have seen a significant increase in sports betting revenues during March Madness. For example, Arkansas expects a new monthly record for sports betting in the state during March Madness, with people from neighboring states crossing over to bet.

- Betting odds for each team in the NCAA Tournament are available, allowing bettors to assess the chances of different teams.

- Experts warn about the potential for gambling addiction during March Madness and advise responsible gambling practices.

- Various resources and guides are available to help individuals make informed bets on March Madness, providing tips, strategies, and odds analysis.