NRG study finds March Madness betting fever in full effect
Recent survey of 1,000 Americans shows online sports betting more popular than brackets
The 2022 NCAA basketball tournament could end up marking the beginning of a sea change in US betting culture, according to findings from a new study released by the National Research Group (NRG).
Historically, March Madness brackets – and the office pools that accompany them – have represented a unifying event among Americans. But that looks to be changing.
According to recent data collected by the NRG, there has been a shift this year, with 54% of respondents indicating their interest in brackets has waned on account of legalized online sports betting.
Perhaps even more telling, a full 60% of people who have wagered on this year’s tournament didn’t even fill out a bracket at all, compared to only 8% who have filled out a bracket without placing at least one bet. Moreover, 39% have indicated they’ve bet more than $250 to date.
The shift is attributable to a confluence of factors, including the continued effect of Covid-19 on American office culture and the fact that some form of sports betting is now legal in a majority of US states.
“As part of NRG’s focus on the sports industry, we looked at how behaviors and attitudes are evolving in the dynamic sports betting space,” said EVP and head of sports Jay Kaufman.
“Clearly, legalized online sports betting is affecting interest in traditional brackets, but so are the work-from-home policies resulting from Covid-19.”
Another factor that has played a role is the presence of a quartet of bona fide bluebloods in Duke, North Carolina, Kansas, and Villanova comprising this year’s Final Four.
All four rank among the most bet-on teams in the tournament, with UNC (22%) and Duke (17%) ranking 1-2.
Americans have also traditionally loved a Cinderella story and the historic run of Saint Peters certainly fits the bill, as 9% of the total money wagered on the tournament backed the Peacocks during their march to the Elite 8.
That came despite bettors in their home state of New Jersey – the biggest US market – being prohibited from betting on in-state college teams.
The NRG data originated from an online study of 1,000 Americans ages 18 to 64, conducted on March 28 and 29