|Itís called March Madness and it doesnít betray its name as billions of dollars are gambled on the event every year. Last yearís event had an estimated $4 billion dollars wagered on it making it even bigger than the Super Bowl in gambling terms. |
PinnacleSports.com expects betting on this yearís NCAA tournament is all set to dwarf this year's Super Bowl and has a wide range of betting trends under observation.
The 182 sports books in Nevada are expected to take approximately $90 million in 'March Madness' bets, estimates indicate that online bookmakers as a whole will record nearly $1.3 billion in NCAA tournament wagers. A remarkable figure that dwarves the $600 million wagered online on this year's Super Bowl.
Simon Noble, of PinnacleSports.com, said, 'For every person that enters an office pool, there's a good chance you will find another placing a bet on the tournament games over the Internet. As more consumers realize the safety and convenience online sportsbooks provide, the Internet will continue to be the destination of choice for betting on major sporting events like the NCAA tournament.'
PinnacleSports.com was the first sportsbook to release betting lines on this year's NCAA tournament games, posting point spreads as the first round match-ups were announced Sunday night. The company will offer thousands of wagering options on the tournament including player propositions, futures and live in-game betting.