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9 Billion To Be Bet On March Madness This Year
Tuesday March 17,2015 : AMERICANS WILL SPLASH OUT $9 BILLION ON MARCH MADNESS THIS YEAR
And most of those bets on the National Collegiate Athletic Association's basketball tournament will be illegal.
Americans will bet more than $9 billion on the National Collegiate Athletic Association's basketball tournament this year, but the vast majority of those bets will be illegal, reports the publication Pennlive, quoting American Gaming Association figures.
The Association estimates that this vast sum will be wagered on 68 teams through 70 million brackets, but only $240 million will go through legal Nevada sports books. That's almost double the wagers placed on the Super Bowl.
And business estimates are that lost productivity due to the 4-day March Madness will top $1.2 billion this year.
The federal Professional and Amateur Sports Protection Act prohibits sports fans from wagering on the tournament - or any big game - outside of Delaware, Montana, Nevada and Oregon, but that is being challenged by states like New Jersey, which would like to boost government revenues with an additional income stream
In Pennsylvania, there's a similar interest in legalised sports betting, although no firm steps forward have been taken - perhaps due to a political "wait-and-see" approach as the New Jersey challenge unfolds.
Last year, the Pennsylvania Legislative Budget and Finance Committee estimated that legalised sports betting could bring in annual revenues of $137.7 million or $160.5 million, based on comparable figures from places where sports wagers are legal.
If online gambling - where more concrete political moves are taking place - was additionally legalised, the state could harvest a further $113 in taxes.
Gambling News :
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
NY Rangers vs. Devils on 12/21 -
When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.
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