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March Madness is always a crazy time of the year, but if you thought the action on the court was mad, wait until you see the action in gambling.
We all know Americans love throwing a few bucks into their office bracket pool, but the total amount we are wagering is staggering.
Like in the billions staggering.
47 million Americans will wager $8.5 billion on March Madness, according to survey commissioned by @AmerGamingAssn. Here’s the breakdown of the projection of how it will be bet: pic.twitter.com/FUcvOv01cX— Darren Rovell (@darrenrovell) March 18, 2019
According to a survey done by the American Gaming Association, there will be $4.6 billion wagered on brackets alone in the United States. It's a stunning amount, and it's still only 55 percent of what will be wagered in total.
Throw in the amount people will be betting with friends or bookies (both legally and illegally) and you have a total of $8.5 billion.
As we fill out brackets, it’s worth noting that NCAA March Madness makes over $1 billion a year for the schools involved. The NCAA should pay star athletes some of what they are bringing in. https://t.co/2yuBMiC1cK— Andrew Yang (@AndrewYangVFA) March 18, 2019
It's a crazy time of year, and a ton of money will be changing hands over the next few weeks.