Get ready, sports bettors—March Madness is here, and the numbers for sports betting are absolutely wild. The American Gaming Association (AGA) is projecting that Americans will bet a jaw-dropping $3.3 billion on the 2026 NCAA Division I Men’s and Women’s Basketball Tournaments through legal sportsbooks. That’s not a typo — billions, with a B.
If that number seems huge, it is. It represents a 54% increase over the past three years, and it’s up from the $3.1 billion the AGA projected for last year’s tournament. The steady climb reflects growing public confidence in the regulated sports betting market, which continues to expand across the United States.
Selection Sunday Sets the Stage
The excitement officially kicks off on Selection Sunday, when the 68-team brackets for both the men’s and women’s tournaments are revealed. The men’s bracket drops at 6 p.m. EST on CBS, followed by the women’s bracket at 8 p.m. EST on ESPN. This is the moment when casual fans and die-hard bettors alike start filling out their brackets and placing their wagers.
“March Madness is the highlight of the college basketball season, and fans are gearing up for a month of tournament action,” said Bill Miller, President and CEO of the American Gaming Association. He noted that fans continue to engage with legal, state- and tribal-regulated sports betting in record numbers.
The Tournament Schedule at a Glance
Here’s how the madness unfolds for the men’s tournament:
- First Four: March 17–18 at UD Arena in Dayton, Ohio
- First Round: March 19–20
- Second Round: March 21–22
- Sweet 16: March 26–27
- Elite Eight: March 28–29
- Final Four: April 4 at Lucas Oil Stadium, Indianapolis
- Championship Game: April 6 at Lucas Oil Stadium
On the women’s side, the First Four runs March 18–19, with the Final Four on April 3 and the championship on April 5 — both hosted at Mortgage Matchup Center in Phoenix.
Why March Madness Is a Bettor’s Playground
What makes this tournament so special for sports betting enthusiasts? One word: unpredictability. March Madness is famous for its upsets, buzzer beaters, and Cinderella stories — the kind of drama that keeps bettors on the edge of their seats.
Last year was actually a rare exception on the men’s side, when all four No. 1 seeds (Florida, Houston, Duke, and Auburn) advanced to the Final Four. That almost never happens, and veteran bettors know not to count on chalk dominating the bracket. In fact, since the tournament expanded to 64 teams in 1985, a No. 16 seed has only beaten a No. 1 seed twice — the University of Maryland, Baltimore County (UMBC) over Virginia in 2018, and Fairleigh Dickinson over Purdue in 2023.
The Rise of Legal Sports Betting
The massive betting numbers also tell the story of how rapidly legal sports betting has grown in the U.S. Currently, 38 states plus Washington, D.C. and Puerto Rico have legalized sports betting. Missouri was the latest state to join the party, launching in December — just in time for the 2026 tournament.
But the AGA’s $3.3 billion projection doesn’t even include wagers placed on prediction market platforms like Kalshi and Polymarket. DraftKings and FanDuel also launched their own prediction market platforms in 2025, opening up even more ways for fans to put their knowledge to the test. Some analysts, like H2 Gambling Capital, project the total sportsbook handle for March Madness could actually hit $4 billion when you factor in all legal channels.
Quick Fun Facts About March Madness Betting
- The NCAA tournament generates more single-event sports betting action than any other event besides the Super Bowl
- An estimated 60+ million Americans fill out a bracket each year — with the vast majority going bust before the Sweet 16
- Warren Buffett once offered $1 billion for a perfect bracket (no one has ever come close — the odds are roughly 1 in 9.2 quintillion)
- The most popular bet type during March Madness is the point spread, followed by over/under totals
Get In on the Action
Whether you’re a seasoned sports bettor or just looking to spice up your viewing experience, March Madness offers something for everyone. Just remember to bet responsibly, stick to licensed platforms, and enjoy the ride — because if there’s one thing this tournament guarantees, it’s that anything can happen.
Stay tuned for more sports betting news and tips right here on our blog.