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March Madness: $3.1 billion in bets, not bracket pools, preferred action for NCAA men's tourney

March Madness has always been a big betting event, but it was mostly through your office bracket pool, betting illegally or being one of the many to make the annual pilgrimage to Las Vegas.

The sports betting world has changed in just a couple years.

For the next few years to come every major sporting event will be bigger, in terms of bets taken, than the previous year. Since last year's NCAA tournament, there are 29 million more Americans with access to legal sports betting in their home state, according to American Gaming Association senior vice president of strategic communications Casey Clark.