WASHINGTON – Americans are expected to wager $3.3 billion at legal sportsbooks on this year’s NCAA Division I men’s and women’s basketball tournaments, the American Gaming Association said Friday, projecting a sharp increase in regulated betting ahead of March Madness.
The estimate represents a 54% jump over the past three years and reflects growing confidence in legal sports betting markets, the AGA said. Last year, the group projected $3.1 billion in legal wagering.
“March Madness is the highlight of the college basketball season, and fans continue to engage with legal, state‑ and tribal‑regulated sports betting in record numbers,” AGA President and CEO Bill Miller said.
Selection Sunday — when the 68‑team fields for both tournaments are announced — is scheduled for 6 p.m. Sunday on CBS for the men’s bracket and 8 p.m. EST on ESPN for the women’s.
Tournament schedule
For the men’s tournament, the First Four begins March 17–18 in Dayton, Ohio, followed by the First Round March 19–20 and Second Round March 21–22. The Sweet 16 is set for March 26–27, the Elite Eight for March 28–29, and the Final Four on April 4 at Lucas Oil Stadium in Indianapolis. The championship game is April 6.
The women’s First Four runs March 18–19 at campus sites, with the First Round March 20–21 and Second Round March 22–23. The Sweet 16 is March 27–28, the Elite Eight March 29–30, and the Final Four on April 3 at Mortgage Matchup Center in Phoenix. The title game is April 5.
Prediction markets and broader wagering
H2 Gambling Capital this week projected $4 billion in sportsbook handle for March Madness, a 6.7% increase from last year. Those figures, like the AGA’s, cover only legal wagering in 38 states plus Washington, D.C., and Puerto Rico, and do not include activity on prediction markets such as Kalshi or Polymarket. DraftKings and FanDuel launched their own prediction platforms in 2025.
Missouri is the only state to have added legal sports betting since last year’s tournament, launching its market in December.
