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2024 March Madness Expecting $2.7 Billion Betting Handle from 38 US States

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dani3839

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Source/Full story - World Casino News

The upcoming March Madness basketball tournament will reportedly feature 136 NCAA teams and 134 games to
represent a huge opportunity for bettors and operators to further boost the Sports Betting handle across 38 states
with legalized sports wagering operations. As Associated Press reports, the Sports Betting handle and the number of
states allowing either retail, online, or both forms of betting have been rapidly growing since 2018, when the US Supreme Court
ruled to legalize gambling operations in the country.

Post-PASPA Sports Betting Expansion:

The proliferation of Sports Betting legalization measures in the US has reportedly started from a single state that allowed
gambling operations before the 2018 court decision. You could bet it was Nevada, with the ”entertainment capital of the
world” tailoring the gambling environment according to the state preferences. Other states seemingly followed the
US Supreme Court decision and the Nevada approach to launch Sports Betting operations according to the state-specific
NCAA Sports Betting environment.

Since 2018, 38 states have launched some form of sports wagering, with 30 states and the Washington D.C. allowing
online betting, according to AP. The same source reports that the upcoming March Madness tournament will feature an
expanded number of states with legal wagering than the 2023 tournament. North Carolina has recently launched online
Sports Betting operations to facilitate legal bets on the 2024 NCAA games but also to continue the constant wagering expansion across the States.

Actually, since the University of Connecticut won the 2023 men’s March Madness competition, more than 10 states have
launched Sports Betting or expanded the existing wagering operations. As reported by AP, North Carolina was followed by
Nebraska, Kentucky, and Florida, where the Seminole Tribe launched online Sports Betting in December 2023.
 

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