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47 Million Americans to Wager on March Madness as Legal Sports Betting Booms

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Sports Betting Market Size Is Likely to Experience a Tremendous Growth of USD 167.66 billion by 2029, registering a CAGR of 10.26 % by Size and Share, Industry Growth, Regional Outlook, Challenges and Analysis

 

More than 47 million Americans will place bets on the 2021 March Madness tournament, with online and physical sportsbook betting expected to grow dramatically compared to 2019, compensating for lower expected participation in bracket contests, according to new data from the American Gaming Association (AGA).

“The sports betting landscape has changed dramatically since 2019 – and as a result, tournament betting has transformed,” said AGA President and CEO Bill Miller. “As consumers formerly limited to bracket contests now enjoy access to legal sportsbook options, they also plan to place traditional sports bets as March Madness returns.”

While the overall number of Americans betting is flat from 2019, there have been significant shifts in how people plan to bet on the tournament this year. Bracket betting is expected to decline but more traditional sports bets placed online or at a brick-and-mortar sportsbooks are expected to more than double.

Since the 2019 tournament, 65.4 million more Americans have gained the opportunity to bet safely in legal markets in 13 new jurisdictions.

Key findings from the survey, conducted by Morning Consult, include:

  • 47.4 million American adults will wager on March Madness, about the same number that indicated they would bet on the tournament in 2019.
  • 36.7 million Americans will fill out a bracket, down 8% from 2019.
  • 30.6 million Americans will place more traditional bets on this year’s tournament, up from 17.8 million in 2019.
  • 17.8 million will place a bet online, up 206% from 5.8 million in 2019.
  • 8.3 million will place a bet at a physical sportsbook, up 79% from 2019.
  • Interest in the tournament is up slightly from 2019, with 26% of Americans saying they are extremely or very interested in the tournament, compared to 23% two years ago.
  • 42% of fans said they followed college basketball more closely this season, with 70% of those following more closely attributing their increased attention either somewhat or very significantly to the increased availability of legal sports betting.
  • Gonzaga University is the betting public’s favorite to win the tournament (17%), followed by Florida State University (11%) and Baylor University (8%).

“With more legal, regulated sports betting options than ever before, millions of customers now have safer ways to enjoy all the fun and suspense only March Madness provides,” said Miller.

Background

  • 25 states and Washington, D.C. have legalized sports betting, with 21 legal markets operational.
  • 17 states currently have active or pre-filed legislation to legalize sports betting.

 

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THE UNIT TO STEP UP EXPANSION PLANS WITH OPENING OF NEW YORK CITY OFFICE

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THE UNIT TO STEP UP EXPANSION PLANS WITH OPENING OF NEW YORK CITY OFFICE

 

The Unit aims to grow its presence in the Americas with move to new Manhattan location in January 2025 at Bank of Ireland’s NYC Hub


The Unit, a leader in product design and development for sports betting and iGaming, will proudly open its new office in New York City, as part of its long-term global expansion objectives, in January 2025.

The Americas division was established in 2023 with the launch of The Unit’s partnership with online operator PlayStar Casino. The New York City office, located in the heart of Manhattan, will now be the hub for The Unit’s activity in the Americas.

This new base will be located at Bank of Ireland’s NYC Hub, which was launched to help Irish business owners expand their North American operations. The offices at 2 Grand Central Tower are a great asset to Irish companies aiming to expand their operations in the United States and beyond. This is an ideal location for The Unit to grow its footprint in the region.

The project will be put into practice by The Unit’s Head of Business Development & Account Management Mark O’Hare, who has relocated to New York and will be responsible for The Unit’s commercial growth in the region.

With product and development teams in Ireland and Moldova, the addition of an American hub is further proof The Unit holds an unwavering commitment to becoming the partner of choice, on a global scale, throughout the industry.

Paddy Casey, Co-founder at The Unit, said: “These are exciting times for The Unit, and with plans in place to exponentially grow our presence in the Americas across the next few years, the start of 2025 will be the perfect time for us to move into one of the most vibrant cities in the world.

“This will be the ideal addition to our existing bases in Ireland and Moldova. The flexible workspace the hub can provide will be integral to our plans and will give us the opportunity to grow the team.

“This is an excellent opportunity for us to touch base with clients in the Americas and strategise further launches. We’re looking forward to mapping out our future in the region with our team on the ground there.

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“I would like to thank Mark O’Hare for making the move to New York, and I’m sure both he and his team will have the skills and experience to execute our vision for the Americas division across the long-term.”

Tania Sheikh, Manager of NYC Hub for Bank of Ireland, said: “We are very pleased to welcome The Unit to the NYC Hub. The facilities we can provide have helped businesses scale up and connect with their partners, and we are proud to offer that opportunity to The Unit.

“We look forward to hosting The Unit and wish them well in their endeavors to grow their business here.”

The Unit has solidified its strong track record of building world-class, scalable and efficient products for the sports betting and iGaming sector in recent years.

As The Unit embarks on this exciting period of growth, the company remains committed to delivering exceptional products and services to its clients. With its experienced team, best-in-class product development capabilities, and focus on innovation, The Unit is poised to shape the future of the sports betting and iGaming industries.

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Golden Matrix Group to Participate in the 2025 ICR Conference

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Golden Matrix Group to Participate in the 2025 ICR Conference

 

Golden Matrix Group Inc., a developer and licensor of online gaming platforms, systems, and gaming content, today announced that management will participate in the 2025 ICR Conference on January 13-15, 2025 at the Grande Lakes Resort in Orlando, FL.

Zoran Milosevic, Chief Executive Officer of Meridianbet, will participate in a fireside chat with an equity research analyst on Monday, January 13, 2025, at 2:30 PM ET and will also be available for meetings during the conference.

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Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids

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Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids

 

BCLC reminds adults to gift responsibly this holiday season

With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.

“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”

While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.

“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”

In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.

“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:

  • Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
  • Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
  • Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
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