November 29, 2016 in Betting Review
Talking about trade, most people would refer it as of equal value. Though, it is by far different according to the trading mechanics and procedures involved. NBA history depicts otherwise. The teams administer some of the most uneven trades in the history of sports. The lopsided trades in basketball history have come a long way that it has influenced other sports trading including the NCCA Tournament March Madness.
Speaking of the March Madness game, the bets are staggering high due to the extent of the coverage of the trading. It covers over different states and involves different people betting on every game. The bets are coming from various resources and business sides. There is also a legal trading, and there is this illegal. This doesn’t include yet the betting system online.
It is definitely hard to determine the exact or total amount that has been wagered on the NCAA Tournament March Madness. However, I was able to gather some important figures on the total amounts of what was bet on from the previous years to the present. This is based on the research I’ve done and what I could figure out.
To make it easier for your reference, I have listed the top 5 lopsided trades in the March Madness particularly in the Las Vegas Sportsbooks Performance from 2012 to the present.
• 2012 March Madness Overall Bets
For this year, there was over $12 billion total of bets for the NCAA March Madness which is way bigger than the Super Bowl of $10 billion. However, for the total bet made in Las Vegas, it was recorded to be about $230.9.
A couple of years earlier, the total amount of bets given by one site was around $263.8 in 2010, and then a year after, 2011 the gamblers bet on a total of $256.6.
In Las Vegas, the total amount wagered in 2010 was $211.2 and $205.2was the overall amount of bets a year after.
• 2013 March MadnessOverall Bets
In 2013, there was notably around $831 million generated from the bets. This 2013 tournament has led to great revenue of earnings of up to $2 billion. Las Vegas has gathered a total amount of $259.4 wagered for the March Madness game.
• 2014 March Madness Overall Bets
It was reported that this was highest dollar amount spent on basketball bets in the history of Nevada’s state for NCC Tournament. The total bet that was recorded for this year was about $375.5 million. Additionally, Las Vegas has collated $274.8 wagered amount.
• 2015 March Madness Overall Bets
The total amount put down for this year was around$262.9 million recorded on the other site I checked. This value is the legal bet made in Nevada Casinos alone. The American Gaming Association, a national trade grade for US casino industry has predicted this earlier. It was told that there was nearly a $150 billion of total bets from the illegal betting for this year’s March Madness games.
• 2016 March Madness Overall Bets
Americans put down a total amount of $9.2 billion only for this tournament. So, when I tried to get the estimated amount of bet for every adult that would be around $38.
I have determined these values together along with the several websites I have reviewed. Most of these amounts that have been wagered for the March Madness NCCA tournament were provided by the other senior research analyst. The amounts mentioned above are coming from the legal side of trading and not from that of the black market.