According to the Las Vegas Sportsbook, the first week of insanity in March is more popular than the Super Bowl weekend.
March Madness officially kicks off and prepares to be upset as fans from across the country flock to Las Vegas to join the fuss.
When it comes to spending money on the line, some of the Las Vegas sportsbooks say the first week of March’s madness is more popular than the Super Bowl weekend.
Fans travel to Las Vegas from across the country to take root with their favorite teams. (Sunny Tsai/FoxBusiness)
“The opening weekend, which includes a game of play with March Madness, will do about twice the amount of actual betting activities as a Super Bowl,” said Caesar’s entertainment lead of college basketball Rich Zanko.
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68 schools are on the line on the first weekend of March’s madness, and fans come all the way to cheer on the team.
“There are a lot of bettors and fans from these teams, alumni of these universities and schools. So there’s always a confusion, cheers and a loud crowd. People probably pour early in the morning at 9am.”
Americans are expected to wager more than $3 billion on the madness this March. (Sunny Tsai/FoxBusiness)
The American Gaming Association predicts fans will bet a whopping $3.1 billion in this year’s tournament. This is an increase of $400 million from last year.
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“As more states get on board, betting interest and fever will begin to grow, so we’re probably growing to have a small office pool until people are just filling up their brackets and can go to phone apps and sportsbooks or whatever case they can,” says Zanco.
While sports betting is more legal in more states than ever before, Las Vegas remains a hot spot for tournament enjoyment.
Vegas Sportsbook says March Madness’ first weekend is more popular than Super Bowl weekend. (Nomad Media Collective / FoxBusiness)
“The legalization of gambling and sports betting between Nevada and Las Vegas may seem counterintuitive to benefit Nevada and Las Vegas. But it’s actually a good thing in that it will allow us to participate in more entertainment in this form of entertainment.”
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But even with more training, the odds of building a perfect bracket are still close to zero.
Various sportsbooks offer their own prop bets during the tournament. (Nomad Media Collective / FoxBusiness)
“It’s estimated to be between 120 billion and 10 billion. If that’s the case, if you know… if there’s full randomness to it, it’s more than one from Cazilion, like you’ve flipped the coin 67 times,” Palm said.
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In addition to brackets, fun prop bets here in Vegas include which states or conferences win the championship and which low-seeded schools win the game.
