A new estimation by the American Gaming Association claims that upwards to 40 million Americans will fill out brackets as the NCAA tournament season begins.
The group also estimates that $9 billion will be wagered on the games, more than double what was bet on the Super Bowl.
Forty million Americans will fill out at least one bracket, AGA says, and many will fill out two. The total number of brackets filled out will exceed the number of voters in the last presidential election.
The average bet is $29 and at least $2 billion will be wagered in betting pools across the nation.
Geoff Freeman, president and CEO of the AGA, noted that with all this activity “it’s clear that Americans embrace gaming.”
The president himself has famously made a point to announce his brackets each year he has been in the White House. Last year, he revealed his bracket on ESPN.
While Las Vegas bookmakers have estimated that the house there will take in around $200 million, the AGA claims it is closer to $240 million. By comparison, ESPN reported that only $79.2 million was bet on basketball in Nevada back in 1988.
Follow Warner Todd Huston on Twitter @warnerthuston or email the author at igcolonel@hotmail.com