Las Vegas sportsbooks have indicated that the first week of March Madness attracts more interest than Super Bowl weekend. As March Madness commences, fans from across the United States travel to Las Vegas, adding to the excitement and activity in the city.
According to several Las Vegas sportsbooks, the initial week of March Madness sees more betting activity than the Super Bowl. Rich Zanco, Caesar’s Entertainment Lead of College Basketball, stated that the opening weekend, which includes the play-in games, generates about twice the betting activity compared to the Super Bowl.
During the first weekend of the tournament, 68 schools are in play, drawing fans nationwide to support their teams. Zanco explained that many bettors and team followers are alumni, creating an environment filled with cheering and an enthusiastic crowd. Betting often begins as early as 9 a.m.
The American Gaming Association has projected that fans will wager approximately $3.1 billion on the tournaments this year, marking a $400 million increase from the previous year. Zanco noted that as more states legalize sports betting, there has been a rise in betting interest. This shift has transformed betting from a simple bracket-filling activity to one involving mobile apps and sportsbooks.
Despite the rise in legalized sports betting across the country, Las Vegas remains a popular destination to experience the tournament. Mike Palm, Vice President of Operations at Circa, commented that while one might assume Nevada and Las Vegas could be adversely affected by widespread legalized gambling, it has actually served as a training ground, enabling more individuals to engage in this entertainment form.
Nonetheless, the chances of predicting a flawless bracket remain slim. Palm highlighted that the odds of achieving a perfect bracket are estimated at 120 billion to one, and if it were entirely random, akin to flipping a coin 67 times, the odds would be even more astronomical.
In addition to bracket predictions, Las Vegas sportsbooks offer various prop bets during the tournament. These include forecasts on which state or conference will secure the championship and which lower-seeded schools might win a game.
