On the Flying Bridge March 24, 2024
The American Gaming Association (AGA) estimated that $2.7 billion was legally wagered on the “March Madness” tournament this past weekend, which does not account for office pools and private bets among friends. While this is a small fraction of the $23.1 billion estimated to have been wagered on this year’s Super Bowl, both reflect a dramatic increase over prior years given the proliferation of new sports gaming apps and additional states permitting legalized gambling.
The AGA estimated that the U.S. gaming industry revenues was $66.5 billion in 2023, which is a 10% increase over 2022. If one were to include the “tribal gaming” revenues, the total would have been closer to $110 billion. While legalized sports betting was only $10.9...
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