March Madness: Record $3.3 Billion in Bets Expected as Tournament Tips Off

The 2026 NCAA Division I Men’s Basketball Tournament is once again expected to be one of the most heavily wagered sporting events in the country. The American Gaming Association (AGA) is projecting $3.3 billion in legal bets on this year’s men’s and women’s college basketball tournaments.

That figure represents continued growth for the industry and further cements March Madness as the largest betting event on the U.S. sports calendar, surpassing even the Super Bowl in total wagering activity.

“March Madness is the highlight of the college basketball season and fans are gearing up for a month of tournament action,” AGA President and CEO Bill Miller said. “Fans continue to engage with legal, state- and tribal-regulated sports betting in record numbers during one of the biggest moments on the sports calendar.”

The estimate only includes legal wagers placed through regulated sportsbooks and does not account for office pools or informal betting, meaning the true total could be significantly higher.

Industry officials point to the continued expansion of legalized sports betting across the country as a major driver of growth. With dozens of states now offering legal wagering, more Americans than ever are participating through regulated platforms, increasing both accessibility and consumer confidence.

Growing Betting Numbers

The 2026 NCAA men’s tournament officially tipped off with the First Four play-in games on March 17–18, leading into the traditional first round beginning March 19. Teams emerging from the play-in round now move on to face higher-seeded opponents.

The projected $3.3 billion wagered in 2026 builds on years of steady growth. Just one year ago, the AGA estimated $3.1 billion in legal bets for the tournament, up from $2.7 billion in 2024.

This upward trend reflects how quickly the legal sports betting market has expanded in the U.S. since 2018. Several factors are fueling the surge:

• Wider legalization of sports betting across states
• Increased use of mobile betting apps
• Growing public awareness of legal wagering options
• Strong engagement with both men’s and women’s tournaments

Additionally, March Madness benefits from its unique structure. With 67 games played over three weeks, the tournament offers bettors a constant stream of wagering opportunities, from point spreads and totals to futures and prop bets.

As the 2026 tournament gets underway, the expected $3.3 billion in wagers underscores the continued integration of sports betting into mainstream American sports culture.

With more states embracing legalization and technology making betting easier than ever, March Madness is likely to remain a centerpiece of the U.S. betting landscape.