The American Gaming Association (AGA) predicts another record year for the largest single-elimination tournament in amateur athletics.
In its projections released this week, the AGA estimates Americans will wager approximately $3.1 billion between the men’s and women’s March Madness tournaments, which get underway next week. The AGA’s projection for this year’s tournament is an increase from the $2.7 billion basketball fans spent wagering on March Madness in 2024.
“March Madness is one of the most exciting times in American sports, with fans fired up for both the men’s and women’s NCAA tournaments,” said AGA SVP of Strategic Communications Joe Maloney. “As legal wagering expands across the U.S., more fans than ever have the opportunity to bet legally and responsibly.”
The AGA is taking steps to promote responsible gambling ahead of one of the largest sports betting events in U.S. sports.
The association is deploying its Have A Game Plan. Bet Responsibly. campaign during March, which serves as Problem Gambling Awareness Month. The AGA is promoting the campaign during March Madness as it encourages responsible and safe sports betting.
The campaign endorses several key principles of setting a budget, playing legally, understanding your chances of winning and keeping betting as a form of entertainment.
New opportunity ahead of March Madness
The AGA predicts record betting results for this year’s March Madness tournament as sports event contracts add to the interest in having a stake in the weeks-long competition.
Earlier this week, prediction market operator Kalshi announced that it will be offering event contracts for the NCAA conference tournaments, which are taking place this week.
This marks the first time Kalshi has offered conference event contracts as the company has previously offered futures contracts for March Madness. Its futures market for this year’s eventual NCAA men’s champion has already garnered more than $2.5 million in volume.
Kalshi is competing to acquire customers as it faces scrutiny from the AGA and state regulators, including the Nevada Gaming Control Board, while the Commodity Futures Trading Commission (CFTC) plans to hold roundtables to discuss event contracts.
The AGA is expected to be present at the CFTC roundtables as it has requested a seat.
