Wagering on March Madness likely to break record amid sports betting wave

Sports betting during this year’s March Madness might break records as more states legalize wagers on the most-anticipated tournaments in college basketball.

Adults will legally bet some $2.72 billion on the men’s and women’s NCAA basketball tournaments, which started Thursday and will run through early April, according to an estimate by the American Gaming Association. That figure does not even count wagers that were made outside of legal bookmakers, which are massive.