2022 March Madness Wagering Estimates
45 Million Americans Expect to Wager $3.1 Billion on March Madness
More than 17 percent of American adults, or 45 million people, plan to wager $3.1 billion on the 2022 March Madness tournament, according to American Gaming Association (AGA) research.
This year, Americans plan to place a greater share of their bets through non-bracket channels. Of their total betting budget on this year’s tournament, Americans expect to place 76 percent of their wagers outside of brackets, up from 55 percent last year.
45 million Americans plan to wager on March Madness.
20.9 million American adults expect to bet on the tournament outside of bracket contests—at a retail sportsbook, online, with a bookie or casually with friends.
36.5 million Americans will wager via a bracket contest or similar pool.
Bettors identified Gonzaga (17%) as their favorite to win the tournament, followed by Duke (12%), and Kentucky (11%).
Since last year’s tournament, 29 million more Americans can legally wager in their home state compared to March Madness 2021 with Arizona, Connecticut, Louisiana, Maryland, North Dakota, South Dakota, Washington, Wisconsin and Wyoming launching new legal sports betting markets.
Morning Consult conducted the online survey on behalf of the AGA between February 26-27, among a national sample of 2,210 adults. The data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment, and region. The margin of error is +/- 2 percent and greater among subgroups. Bettors include those who expect to place a bet online, with a bookie, with a casino sportsbook, casually with family or friends or as part of bracket contest.
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