Betting on March Madness has become a popular tradition in the United States, with millions of people filling out brackets and placing bets on the games each year. Here is a brief history of betting on March Madness:
· In the early days of the tournament, betting was
not as widespread or organized as it is today. However, even in the 1940s and
1950s, there were reports of illegal betting pools and bookmaking on the
tournament.
· As the tournament grew in popularity in the
1960s and 1970s, so did the amount of betting on the games. However, much of
this betting was still done through informal pools and word-of-mouth.
· In the 1980s and 1990s, the rise of the internet
and online sports betting made it easier than ever to place bets on the
tournament. Online sportsbooks began offering odds and betting options for
March Madness, and many fans started filling out brackets and participating in
office pools.
· Today, March Madness is one of the biggest
betting events of the year, with millions of people placing bets on the
tournament through online sportsbooks, casinos, and other betting outlets. The
American Gaming Association estimates that Americans bet more than $8.5 billion
on the tournament in 2019.
· The NCAA has been historically opposed to sports
betting, and has taken steps to limit or prohibit betting on the tournament. In
2018, the NCAA filed a lawsuit against New Jersey over its efforts to legalize
sports betting, arguing that it would harm the integrity of college sports.
· Despite the NCAA's stance, many fans and
analysts believe that sports betting can actually enhance the excitement and
engagement around March Madness. As sports betting becomes more mainstream and
accepted in the United States, it is likely that betting on March Madness will
continue to be a popular and lucrative activity for fans and bookmakers alike.
0 Comments