March Madness to Attract $3.1 Billion in Legal Bets, Billions More Illegally
- 13 Mar 2025
- Gambling News
The men’s and women’s college basketball tournaments for March Madness 2025 start next week. The brackets are projected to attract approximately $3.1 billion in lawful wagers.
While the Caitlin Clark effect— which significantly increased enthusiasm for the women’s tournament last year— has dissipated, the American Gaming Association (AGA) predicts that legal sportsbooks will accept $400 million more in wagers than they did a year earlier. It is also more than twice the $1.4 billion that the AGA predicted would be bet during last month’s Super Bowl.
In March 2025, the number of states with legal sports betting remains unchanged from March 2024, totaling 38 along with Washington, DC. Since March 2024, legal sports betting hasn’t grown, as Missouri has not initiated its legal sports gambling market despite voters approving it during the November election.
The AGA states that the public’s increasing trust in legal betting options is the cause of the anticipated rise in March Madness wagers this year.
"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 Jay Maloney, the AGA’s senior vice president of strategic communications. “As legal wagering expands across the US, more fans than ever have the opportunity to bet legally and responsibly.”
Countless billions additional will be bet through offshore sportsbooks and local bookmakers. Friends and coworkers will likewise wager millions on bracket contests. The AGA has stopped giving betting estimates for unlawful activities. In 2023, the group made illegal wagers exceeding $12 billion.
Duke Preferred
Although the brackets will be finalized on Selection Sunday at 6 pm EST, No. 1 Duke is favored to win the championship in San Antonio on April 7. BetMGM features the Blue Devils at +320 (implied odds of 23.8%) to secure their sixth national title, although it would be their first in ten years.
Auburn closely follows at +350, while Florida (+600), Houston (+800), and Alabama (+1200) complete the top five. The previous year's champion, UConn, has odds of +6000.
On the women’s side, the reigning champion South Carolina Gamecocks lead as favorites at +260. Connecticut, that fell short in the Final Four last year but has brought back two-time All-American Paige Bueckers and secured the nation's top recruit in Sarah Strong, is next at +280.
Notre Dame, USC, and UCLA complete the top five, with all teams at +550.
Gamble responsibly
The AGA is urging gamblers to engage in sports betting responsibly. The gaming industry association’s responsible gaming initiative for sports wagering is named, “Have A Game Plan.”
“Have A Game Plan” encourages bettors to set and stick to a budget, keep it social and entertaining, become familiar with the odds and understand the risk involved, and use only legal sportsbooks. The program’s newest principle — “Keep Your Cool” — was implemented in December and emphasizes bettors’ responsibility to not harass players, coaches, refs, or anyone else involved in the outcome of a game.
“The result of a bet — win or lose — is not an invitation to criticize … online or in-person,” the AGA said.
