The American Gaming Association has posted a report detailing its findings concerning the recent NCAA’s (National Collegiate Athletic Association) March Madness, a mega sports event that witnessed a record number of wagers placed on a college level tournament.
Even before the event started, estimates suggested that over $8 billion would be wagered during the event.
Following the event, the AGA conducted a survey which involved questioning 11002 adults. Now the premier national trade group representing the $261 billion U.S. casino industry has published its findings.
As found in the AGA survey, only 10% of the 47 million American adults who had placed a bet during the event have their favored team in play.
The data collected shows that 9% of those who wagered during the event picked Auburn University, five percent picked the University of Virginia as their favorites, four percent picked Michigan State University; One percent picked Texas Tech University.
It should also be noted that all the four teams who made it to the finals and the states which they represent have not yet legalized sports betting. Sports betting laws are pending in those states including Minnesota, the host state.
Also, the survey finds that almost 60% of Americans, including those who did not wager, sharing an opinion that they would have enjoyed watching the games more on the TV if they had picked and wagered on one of the four teams to become the new champion.
Following the massive betting, NCAA which conducts the college level sports tournaments has said that they are seeking to ban athletes who place wagers on sports events.