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AGA: $3.3 Billion will be Wagered on this year's Men's, Women's Tournaments

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Publish Date: Mar 13, 2026

Fact checked by: Sara Jane Gamelli

Key Points

AGA says approx. $3.3 billion will be wagered on the NCAA Division I Men's, Women’s College Basketball Tournaments
This is a 54% increase over the last three years.
One in five (15%) digital sports betting ads in 2025 did not comply with state-mandated responsible gaming guidelines.

With Selection Sunday just two days away for both the men's and women's college basketball tournaments, the American Gaming Association (AGA) on Friday released some data numbers on how much will be wagered on March Madness over the next two months.

The AGA is estimating that bettors in the United States will legally wager approx. $3.3 billion on the NCAA Division I Men's and Women’s and Men’s College Basketball Tournaments, marking a significant 54% increase over the last three years.

“March Madness is the highlight of the college basketball season and fans are gearing up for a month of tournament action,” said Bill Miller, President and CEO of the American Gaming Association in a news release. “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.”

While that number maybe a sign of the American public expressing great desire and interest in arguably the biggest sporting and wagering event in the country, prediction markets loom over an entire legal industry.

March Madness basketball pitch

San Francisco-based Sensor Tower data (compiled by the AGA) shows that prediction market platforms, such as Kalshi and Polymarket to name a few, have surged their presence in sports betting advertising.

Digital ad impressions for online sportsbooks decreased by 14% last year, while impressions tied to prediction market advertising skyrocketed dramatically. Close to one in five (15%) digital sports betting ads that were viewed by consumers in 2025 did not comply with state-mandated responsible gaming guidelines.

Last year, Kalshi alone became the third largest sports betting advertiser by digital impressions.

Data also shows that sports betting advertising represents a small portion of U.S. television advertising.

Sports wagering accounted for just 0.9% of TV advertising spend, compared with 1.5 percent for alcohol advertising in 2025. Sports betting advertising volume (0.3%) is half that of the alcohol industry (0.6%) and dwarfed by pharmaceuticals at an astronomical 13.9%

For example, every sports betting commercial that aired on TV last year, 39 pharmaceutical advertisements aired.

“Confidence in your wager - and in the integrity of the games - starts with a fair and compliant betting market,” said Miller. “That’s why it’s so important that everyone offering sports bets in the U.S. comply with state and tribal regulations, ensuring that consumers are protected.”

January, February Bring Huge Influx

Nearly half of digital sports betting ads (43%) that were seen by consumers in the U.S. did not comply with state gaming regulations that require responsible gaming messaging since they came from prediction market operators.

Prediction markets are overseen federally by the Commodity Futures Exchange Commission (CFTC).

Currently, Kalshi is the most visible sports betting brand by digital ad impressions, with consumers exposed to their advertising approx. 5.2 billion times this year, a whopping 2.3 billion increase compared to 2.9 billion impressions for FanDuel, the second most frequent sportsbook advertiser. A Nielsen study (commissioned by the AGA) shows that there has been an increase in betting activity across the board, but overall sportsbook advertising volume has continued its multi-year decline.

Inside the numbers, total sports betting advertising spend fell 5% year-over-year. Sports betting ad volume across all channels declined 1% year-over-year and is in fact 27% lower than the peak five years ago (2021). Sports betting TV advertising volume has declined 9% and has decreased 50% since 2021.

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