March Madness continues to draw in Iowa sports bettors, as over 100,000 people placed bets on the NCAA tournament from March 16 to 19.
According to the American Gaming Association, an estimated 31 million Americans are expected to bet on the men’s tournament this year, wagering about $15.5 billion in total.
While this is slightly less than the Super Bowl, there are actually 18 million more bettors taking part this year.
In March 2022, Iowans spent approximately $230 million on sports betting, and officials with the Iowa Racing and Gaming Commission say that they are on a similar pace this year, especially with March Madness taking place in their own backyard.
Local analysts are investigating what’s driving this spending and what can be expected for the rest of the year.