| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Gambling Fans Get Behind March Madness
- Thursday, 30 Mar 2006
A top gambling website has confirmed that the number of those gambling on “March Madness” sporting events has surpassed those that placed wagers on last year’s Super Bowl. Gambling industry analysts report that of the $4 billion wagered on last year's NCAA tournament worldwide, one third of the wagers were placed online. And as office pools and online betting has gained even more popularity since Super Bowl, statistics for this year’s event are expected to be even higher.
Pinnacle Sports, a well known online gambling site, has predicted that online bookmakers will record nearly 1.3 billon dollars in NCAA tournament wagers. In comparison, Nevada’s 182 sports book operators are expected to take $90 million in online bets for the event. Last year $600 million was wagered by gambling fans online on last year’s Super Bowl events. If gambling goes according to plan, this year’s NCAA tournament will generate twice the amount spent on Super Bowl.
Pinnacle Sports chief Simon Noble attributes the increasing numbers of gambling fans at sports betting sites to the safety and convenience associated with online gambling. Noble believes that for each gambler using traditional betting locations, another can be found placing a bet online. “The internet will continue to be the destination of choice for betting on major sporting events like the NCAA tournament," he says.
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