March Madness
Nearly 80% of Americans Are Betting on Sports, But Few Understand What Comes After the Win

Sports betting has become a national pastime — and March Madness is one of the biggest moments of the year for casual and committed bettors alike. A new national survey from DIY tax software provider TaxAct reveals that 79% of Americans have placed or plan to place a sports bet, signaling that what was once niche is now firmly mainstream. The survey of 750 U.S. adults paints a clear picture: sports betting is common, frequent, and often motivated by entertainment more than income.
More than half of respondents (54%) said they place bets a few times a year, with another 30% betting weekly during specific sports seasons. A dedicated 7% say they bet every chance they get, suggesting that for some, sports wagering is as much a routine as it is a pastime.
And while winning money is not the only draw. 30% of respondents bet for the thrill of it, and 25% said betting makes watching sports more exciting. Social drivers are strong too: 17% enjoy the competitive aspect, while 12% use betting to connect socially. Only 16% of respondents said their primary goal is earning extra income.
Despite sports betting’s explosive growth, awareness of how it impacts taxes is low — and misconceptions are common. Only 18% of respondents knew that all winnings must be reported to the IRS, and just 25% correctly identified sports betting winnings as taxable income. Even fewer — 10% — were aware that losses can be claimed as an itemized deduction, and 11% knew the tax rate on gambling winnings can reach up to 37%. Only 2% of respondents were able to correctly identify all these statements as true.
The post Nearly 80% of Americans Are Betting on Sports, But Few Understand What Comes After the Win appeared first on Gaming and Gambling Industry in the Americas.
Charlie McIntyre
NH Players Wager $20M on March Madness

New Hampshire Lottery enthusiasts wagered over $20 million on the NCAA basketball tournaments, experiencing a more than 10% increase in wagering from the previous year. Florida secured the men’s championship, while UConn emerged victorious on the women’s side.
Charlie McIntyre, Executive Director of New Hampshire Lottery, said: “What an incredible month of college hoops! We love seeing our players getting in on the sports betting action! Sports betting just adds a little extra excitement to the sports viewing experience, especially during March Madness when there are dozens of games throughout the month—not to mention an expanding variety of ways to bet.”
McIntyre highlighted March Madness as a significant period for sports betting, contributing notably to funding New Hampshire’s public education. Alongside the excitement of March Madness, anticipation is building for the NHL and NBA Playoffs.
During the pre-tournament phase, local gamblers heavily backed Duke for the men’s category and strongly supported UConn for the women’s, with UConn delivering a favorable outcome. Conversely, Florida’s triumph in the men’s championship surprised many, as only 15% had initially placed their hopes on the team. However, by the championship game against Houston, two-thirds of bettors picked Florida, redeeming many bracket predictions.
Since its inception on December 30, 2019, mobile sports betting in New Hampshire has generated over $3.5 billion, benefiting public education by more than $140 million. Residents can place bets via the DraftKings Sportsbook app, available on iOS and Android, or online at Sportsbook.DraftKings.com. Responsible gaming is emphasized, with tools like My Stats Sheet, limit setting, cooling-off periods, and self-exclusion options available on the app.
The post NH Players Wager $20M on March Madness appeared first on Gaming and Gambling Industry in the Americas.
AGA
Americans to Legally Wager Estimated $3.1 Billion on March Madness

The American Gaming Association (AGA) estimates that Americans will legally wager $3.1 billion on the men’s and women’s college basketball tournaments this year, up from $2.7 billion in 2024. This growth underscores the expanding legal sports betting market and the growing trust in legal wagering options.
“March Madness is one of the most exciting times in American sports, with fans fired up for both the men’s and women’s NCAA tournaments,” said AGA SVP of Strategic Communications Joe Maloney. “As legal wagering expands across the U.S., more fans than ever have the opportunity to bet legally and responsibly.”
Throughout the month of March, Have A Game Plan.® Bet Responsibly. campaign will serve important messages to fans, encouraging responsible sports betting. The campaign promotes five key principles:
- Set a Budget: Determine how much you are willing to spend and stick to it.
- Keep it Social: Betting should be a form of entertainment shared with others.
- Know the Odds: Understand the games and your chances of winning.
- Play Legally: Use regulated, legal betting platforms.
- Keep Your Cool: The result of a bet – win or lose – is not an invitation to criticize players, coaches, or officials online or in-person.
“‘Keep Your Cool,’ our newest ‘Have A Game Plan’ principle, is all about keeping betting fun and respecting the game – no matter how unpredictable March Madness becomes,” Maloney added.
Since the U.S. Supreme Court’s decision to overturn PASPA in 2018, legal sports betting has expanded to 38 states and Washington, D.C., offering consumers safe and regulated options to engage with their favorite sports. Americans’ support for legal sports betting continues to grow. According to the AGA’s 2024 American Attitudes Survey, 75% of Americans support legal sports wagering in their home state, and 90% view sports betting as an acceptable form of entertainment.
For more information on responsible sports betting, visit www.haveagameplan.org.
The post Americans to Legally Wager Estimated $3.1 Billion on March Madness appeared first on Gaming and Gambling Industry in the Americas.
Jake Schmidt MTS Trader at OpenBet
OpenBet: Inside the Rise in Wagering on Women’s March Madness

Wagering on women’s sports is experiencing a meteoric rise in popularity, according to the latest data provided by global sports betting company OpenBet. The excitement surrounding the NCAA’s Women’s March Madness, boosted by the ‘Caitlin Clark Effect’, has marked a sea change for a sport and competition in which the men’s game has historically dominated wagering activity.
This year, the women’s college basketball championship saw record wagers processed through the OpenBet sports betting platform, as South Carolina’s victory over Iowa it clutched the title of most watched national basketball game in five years.
The tournament’s Final Four also attracted an average of 10.8 million views per match, up more than 130% on last year and higher than the men’s game. This upward trend in recognition of women’s sport shows no sign of slowing down.
“The women’s national championship between Iowa and South Carolina was the highest wagered event of the entire tournament,” said Jake Schmidt, MTS Trader at OpenBet.
As interest in women’s basketball skyrockets, OpenBet is strengthening its player props offering to remain competitive and attract more bettors than ever before.
“A constituent and increasing offering of player prop markets is vital to ensuring the popularity of women’s March Madness across the sports betting landscape continues to grow,” Schmidt said.
“With different universities making the tournament each year, I believe this will continue to keep consumers engaged as it is something new each year.”
There also continues to be wider coverage of women’s sports in the US media and on TV than ever before. Iowa’s Caitlin Clark, at the age of just 22, has left a lasting impact on women’s basketball as the NCAA’s top scorer and gaining endorsements from the likes of Nike.
“This year, there were multiple high-profile players driving this increase in popularity,” said Schmidt.
“The media highlighted all games including key players such as USC’s Juju Watkins, South Carolina’s coach Dawn Staley and player Kamilla Cardoso, and others from LSU, UConn and Iowa Hawkeyes.”
Another reason for its increase in prominence and wagering activity is down to the length of time women typically spend at college.
“In contrast to the men’s game, female athletes generally choose to remain in college for longer before choosing to participate in the WNBA draft, allowing consumers to get to know them more and build familiarity,” said Schmidt.
OpenBet continues to deliver a robust and reliable betting engine enabling more people than ever to wager on women’s sports with confidence. As this trend continues, the award-winning provider will add further player props and sports to exceed expectations from sports bettors.
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