Fans put March Madness level with the Super Bowl as bets in the tens of billions are made on NCAA tournament

March Madness is almost as big as the Super Bowl.

That is, when it comes to the almighty dollar.

There’s no doubt that the NFL’s big game is a worldwide event, with everyone from Patrick Mahomes and Travis Kelce to Taylor Swift and Usher taking part in a massive two-week football celebration.

But the NCAA men’s basketball tournament has become so big that it almost tops the Super Bowl in the betting world.

According to the American Gaming Assocation, 68 million Americans were expected to bet on March Madness in 2023 and a total of $15.5 billion was set to be wagered on the NCAA men’s tournament.

That’s a staggering amount financially and a close second in the US to the Super Bowl.

The NFL’s big game was expected to receive $16 billion in bets in 2023.

That number jumped to $23.1 billion for Super Bowl LVIII.

Sports gambling is bigger than ever in the United States, thanks to the legalization of betting in 38 of 50 states and the proliferation of online sites in the smartphone age.

March Madness has been one of the biggest benefactors, with sports and non-sports fans across the country wagering on whether a No. 16 seed will stun a No. 1 seed, or if Houston will take down Connecticut or Purdue in the NCAA Championship game.

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Mobile and printed-out brackets are everywhere in March, as fans construct multiple scenarios that are easy to bet upon round after round.

With 67 games being played across the country and the tournament widely broadcast on cable TV and streaming devices, March Madness has become one of the biggest sporting events in America, despite college basketball as a whole being down.

More than 56 million Americans participated in a bracket contest in 2023, with most brackets free to use and fill out online.

“March Madness is one of the best traditions in American sports — and America’s most wagered-on competition,” AGA president and CEO Bill Miller said. “Critically, the expansion of regulated sports betting over the past five years has brought safeguards to more than half of American adults who can now bet legally in their home market.”

Michael Jordan, Magic Johnson and Larry Bird all first made their worldwide basketball names in March, bouncing across the country and taking over TVs, while Steph Curry left LeBron James open mouthed as a spectator.

Florida Gulf Coast, George Mason, Davidson and Loyola Chicago have become synonymous with Cinderella on the hardwood, with fans from coast to coast suddenly rooting for teams and players they previously hadn’t heard of.

The 2024 First Four is set for March 19 and 20, with the first round beginning on March 21.