Americans are expected to bet $1B more on March Madness than the Super Bowl in 2024

American adults are expected to bet $2.72 billion on the 2024 NCAA men’s and women’s tournaments, according to an estimate released Thursday by the American Gaming Association.

The number is 2.2 percent of the total handle wagered by Americans in all of 2023, which was placed at $119.84 billion by the AGA’s commercial gaming revenue tracker. It’s also a 55 percent increase over the amount of bets placed on last month’s Super Bowl between the Kansas City Chiefs and San Francisco 49ers, according to AGA figures cited by Bookies. It was estimated that $1.5 billion people placed legal bets on the Super Bowl.

NEW: The AGA estimates that American adults will legally wager $2.72 billion on the 2024 men’s and women’s #MarchMadness tournaments.

The total is equivalent to 2.2% of the total handle legally wagered by Americans in 2023. pic.twitter.com/0sZMjjcRcD

— American Gaming Association (@AmericanGaming) March 14, 2024

This year’s $2.72 billion estimate may sound small to those who remember the $15 billion number from 2023, but there’s a reason for that. The AGA changed its approach this year, ditching the surveys that included things like bracket contests and casual bets with friends, in favor of using its commercial gaming revenue database to provide an estimate of legal handle only.