Enough money will be wagered on the NCAA Tournament to make you go mad.
A record $3.3 billion is expected to be wagered during the 2026 March Madness Tournament, according to new data released by the American Gaming Association.
This number does not include money that is being thrown around in your office pools or bracket challenges – which is considered unregulated and illegal wagering in most cases.
“Fans continue to engage with legal, state- and tribal-regulated sports betting in record numbers during one of the biggest moments on the sports calendar,” Bill Miller, president and CEO of the AGA, said in a statement.
The $3.3 billion also does not include the ever-more popular “trading” on prediction markets such as Kalshi and Betr.
Kalshi, one of the market leaders in the space that offers trading on events such as political events, weather, stocks, sporting events and more, averaged an obscene $395,000 in wagers on each college game in February, according to live data collector Defirate.com.
The projected betting total on March Madness would represent a six percent increase year over year from 2025.
The total amount wagered is likely just the tip of the iceberg compared to what is being laid on bracket pools, many of which are wagered in cash or money transferring apps like PayPal and Venmo.
There is no official number for how much money goes through office pools, but one study projects that legal and illegal betting on the tournament can amount to upwards of $12 billion.
Betting on College Basketball?
All things considered, March Madness is the biggest betting month of the year, and New York is by far the biggest piece of that puzzle.
New Yorkers bet more than $2 billion in February for the seventh consecutive month, nearly double that of the second- and third-most states, respectively (Illinois $1.1 billion, New Jersey, $1 billion).
Why Trust New York Post Betting
Erich Richter is a brazilian jiu-jitsu blue belt but he has a black belt in MMA betting. During the football season he’s showcased massive profits at The Post in the player prop market the last two seasons. While constantly betting long shots, his return on investment is 30.15 percent since 2022.