Press Releases
PlayUSA.com: NCAA Tournament likely the first $1 billion event
The 2021 NCAA Men’s Basketball Tournament will almost certainly be the first sporting event in U.S. history to draw more than $1 billion in legal wagering and could approach $1.5 billion, according to projections from PlayUSA, the leading source for news, analysis, and research related to the market for regulated online gaming in the United States. But without data from last year following the cancellation of the 2020 NCAA Tournament, and a regulated sports betting landscape that has radically changed from 2019, predicting precisely just how much in wagering March Madness will generate is nearly impossible, PlayUSA cautions.
“The 2021 NCAA Tournament will be the most widely bet-on sporting event in U.S. history,” said Eric Ramsey, analyst for PlayUSA.com. “The popularity of the NCAA Tournament combined with such a high number of games typically makes March Madness the largest sports betting holiday each year in terms of handle, and there is no reason to suspect that won’t be the case this year. But the number of legal sports betting markets has more than tripled since 2019 and we are still in the midst of a pandemic that could slow retail sportsbooks. Those reasons alone make this year difficult to predict.”
The last time the NCAA Tournament was played in 2019, bettors in seven states could place a wager legally. Those seven states, which includes today’s three largest markets, New Jersey, Nevada, and Pennsylvania, as well as Delaware, Mississippi, Rhode Island, and West Virginia, managed to generate an estimated $440 million in bets, or about 40% of the nation’s overall handle in March, according to PlayUSA.
Now with 20 states and Washington D.C. offering some form of legal sports betting, the U.S. landscape has shifted dramatically. That includes most of the nation’s largest markets behind the Top 3, including Illinois, Indiana, Colorado, Tennessee, and Michigan. And Pennsylvania, now the nation’s third-largest market, launched online sports betting after the 2019 tournament.
Today, an adult population of about 86 million can now bet legally in their home states. In 2019, about 26 million adults enjoyed access to legal sportsbooks in their home states.
“The Super Bowl draws the most bets for a single game, but March Madness and its 60+ games should more than double what the Super Bowl draws,” said Dustin Gouker, lead analyst for PlayUSA.com. “But the dramatic expansion of legal markets, as well as the exponential growth within each market, means more people will have an opportunity to bet on the NCAA Tournament than ever before. And that will produce an eye-popping handle number that could reach $1.5 billion.”
2021 also brings multiple factors that will be unique to this year’s tournament. For one, pandemic-related restrictions are still in place in some legal jurisdictions, and most bettors may still be hesitant to make a bet indoors. That could have a significant effect on event-driven markets like Nevada, which relies on retail betting far more than in most of its largest rivals. New Jersey, for instance, accepts about 90% of its bets online, and PlayUSA projects that the Garden State could draw more than $300 million in NCAA Tournament bets this year, more than any other state.
In addition, for the first time in history every game of the NCAA Tournament will be played in a legal sports jurisdiction. With so many games being played locally, that jurisdiction, Indiana, has the potential to far outperform what would normally be expected of the nation’s fifth-largest U.S. sports betting market.
“With so many variables at play, this will be a fascinating NCAA Tournament to watch,” Ramsey said. “We know that the tournament will draw heavy action. But it won’t look like any NCAA Tournament that we have ever seen.”
For more information on NCAA Tournament betting, visit www.playusa.com/march-madness-betting/.
Latest News
Proper Loud and Galactic Announce Groundbreaking Global Partnership to Launch the World’s First Socially-Driven Prediction Market Platform
Zitro is gearing up for a milestone appearance at this year’s Global Gaming Expo (G2E) in Las Vegas, promising an experience filled with new content, innovation, and a highly anticipated product debut. Located in a premium new space on Fremont Street, Zitro’s booth will be 120% larger than last year, marking the company’s most significant investment at G2E to date. Zitro’s expanded presence underscores its unstoppable growth and commitment to the U.S. market.
Building on this momentum, a “new unveiling” will take place exclusively at the show—an experience crafted to awaken the senses. While details remain under wraps, this launch marks a significant step forward in the company’s product roadmap, and interest in this addition is already growing, making Zitro’s presence a must-see at G2E 2025.
In addition to this exciting reveal, attendees will experience an impressive showcase of new game titles for Zitro’s proven performer cabinet, CONCEPT. Featured games include fan favorites like Legendary Sword and King Fu Frog, and exciting additions such as River Gold, Tied Up! Coins, Goddess Saga, and Ancient Link. Also debuting are thrilling new adventures with Haunted Fortune, Octo Gold, Rainbow Birds, and Spin Fu, among others—all part of a new wave of content designed to deliver diverse gameplay experiences and drive performance on casino floors.
“We’re excited to return to G2E with a dramatically expanded presence, an unmatched lineup of new titles, and a groundbreaking product that we can’t wait to unveil,” said Derik Mooberry, CEO of Zitro USA. “Our growth in the U.S. is accelerating, and this year’s G2E is the perfect stage to show just how far we’ve come. Our expanded footprint reflects the strength of our portfolio and the trust our partners place in us. We look forward to welcoming visitors to see beyond the fantasy at our new booth and sharing the next chapter of Zitro’s story.”
Quick Custom Intelligence (QCI) and Wyoming Horse Racing are thrilled to announce their strategic partnership that is set to transform the gaming and hospitality landscape in the Wyoming market. This dynamic collaboration represents an exciting fusion of advanced technology and exceptional guest experiences. By leveraging QCI’s cutting-edge data analytics platform, the partnership aims to redefine how casinos operate, providing unparalleled insights into player behavior, enhancing operational efficiency, and delivering personalized guest experiences like never before. This bold move positions Wyoming Horse Racing at the forefront of innovation, setting a new standard in how technology can drive the future of gaming and hospitality.
This partnership marks the beginning of a new era, where the seamless integration of artificial intelligence, data-driven decision-making, and world-class service will create an unmatched environment for entertainment and hospitality in the region.
Steven Jimenez, Executive General Manager of Wyoming Horse Racing, shared his excitement about this partnership, stating, “We are excited to embark on this transformative journey with QCI. The QCI platform is truly a game-changer for our host and marketing departments, and we’re confident it will not only optimize our operations but also enhance the quality of service and entertainment we provide to our valued guests. With QCI’s innovative solutions, we’re poised to deliver an unparalleled gaming experience in the Wyoming market. This partnership perfectly aligns with our commitment to excellence and innovation.”
Dr. Ralph Thomas, CEO of QCI, expressed his satisfaction with this newly established partnership, stating, “we place immense value on partnerships that are built on mutual respect, a shared vision, and a strong commitment to innovation. Our collaboration with Wyoming Horse Racing exemplifies this kind of relationship. From the very beginning, we have been deeply impressed by the Wyoming Horse Racing team’s dedication, their passion for excellence, and their relentless focus on delivering extraordinary guest experiences. I am incredibly proud of what we have already achieved together and even more excited for the future. This partnership represents a unique opportunity to set new benchmarks in the Wyoming market, and I am confident that together, we will redefine what’s possible in the gaming and hospitality industry.”
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