March Madness 2025: $3.2 Billion in Legal Sports Bets Expected

As March Madness kicks off, Vixio experts forecast a staggering $3.2 billion in legal sports bets on the 2025 college basketball championship. This marks another exciting chapter in one of the biggest sporting events of the year.

A Major Player in Sports Betting

March Madness continues to be one of the most anticipated events in the sports betting world. In 2024, a total of approximately $162 billion was legally wagered on all sports across the 39 states where sports betting is legalized. You can explore more details about this in Vixio’s March 2025 U.S. Sports Betting Market Outlook.

“Since the landmark U.S. Supreme Court ruling of 2018, which cleared states to legalize sports wagering, lawmakers and regulators have taken different approaches to integrating college sports into their regulatory frameworks.”

_{- James Kilsby, Chief Analyst, Vixio}

State-by-State Betting Differences

As March Madness tips off, bettors across various states will face differing betting options, thanks to state-specific regulations.

In at least 16 states, bettors won’t be able to place proposition bets related to the actions of individual college athletes. Since the start of 2024, the NCAA has lobbied state regulators to prohibit such bets in at least four states, citing concerns about integrity and public interest. If federal legislation is passed, a national prohibition could be implemented.

Furthermore, in at least 15 states, wagering on in-state collegiate teams is generally off-limits. However, there are exceptions, with states like Massachusetts and Rhode Island allowing bets on in-state teams during major tournaments like March Madness.

And, in Oregon, no betting on any collegiate sports is allowed, via the state’s sole licensed platform (DraftKings), although the prohibition does not apply to sports books in Native American casinos, presenting a unique case. betting on collegiate sports is prohibited on the state’s licensed platform (DraftKings).

The Industry at a Crossroads

James Kilsby sums it up by saying, “With the NCAA actively advocating for a national prohibition on all college player props, but sportsbooks increasingly relying on props as a key component of their betting offerings, the industry and college sports find themselves at an inflection point as March Madness begins this year.”

As the legal sports betting landscape continues to evolve, March Madness will be a prime example of the balancing act between state regulations, NCAA advocacy, and the growing sports betting industry. Keep an eye on this space as the excitement builds!

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