Over the next three weeks during the NCAA Tournament, almost 50 million Americans will bet $8.5 billion, according to the American Gaming Association.
AGA says that 47 million people will fill out an estimated 149 million brackets and put down $4.6 billion. Almost 18 million of those people will place their wagers, worth almsot $4 million at a sportsbook, online, with a bookie or with a friend.
Since the Supreme Court overturned a 1992 federal law on gambling, the Professional and Amateur Sports Protection Act last May, eight states have legal sports betting, while another 23 states have active bills that are considering legalizing sports gambling.