65% of NCAA bettors have wagered more than ever
A survey conducted by the National Research Group (NRG) asserts that 65% of US bettors who regularly wager on the NCAA Men’s Basketball Tournament have bet more this year than in any year previous.
The NRG conducted its study following the conclusion of the Elite Eight round, which wrapped up this past Sunday.
The NCAA tournament, commonly referred to as March Madness, attracts high volumes of bettors annually.
Betting figures have been strong this year, too, given the ever-widening legality of sports betting across the US.
NRG’s survey details that 31% of Americans aged between 21-64 have placed a bet on March Madness this year. It is 65% of this number that claims to have bet more in 2022 than in any previous year.
Moreover, 39% of bettors reported that they wagered up to $250 or more, with 63% gambling $100 or above.
The survey, as reported by SportsHandle, additionally found that 60% of those who bet on the NCAA this year did not fill out a bracket for the entire tournament.
Of those surveyed, 54% of bettors say that the legalisation of sports betting made them less interested in completing a bracket, given the wider range of betting options available in legal markets.
March Madness stands alongside the Super Bowl as the most popular sports betting event in the US and, despite the percentage of bettors decreasing with each consecutive knockout round, SportsHandle believes betting numbers for the final two rounds will be significant.
There is potential weight to this claim, given the first-ever matchup between North Carolina and Duke may be the final game for experienced coach Mike Krzyzewski.
The other semi-final will be played between Kansas and Villanova.