ARIZONA, USA — March Madness games are now underway, and Arizona State University, the University of Arizona and Grand Canyon University are all competing.
Last March was one for the record books with $690 million bet in Arizona, and experts think with local connections in both the men’s and women’s NCAA tournament March 2023 could top it.
Super Bowl betting
2023 in Arizona also brought Super Bowl XVII to State Farm Stadium in Glendale. Making the state the first to host with legal sports betting.
John Pappas, Senior Vice President of Government and Public Affairs at GeoComply, said the company tracked more than 6.1 million geolocation transactions in Arizona over the course of Super Bowl weekend.
“At the Super Bowl location at State Farm, there was over 100,000 geolocation transactions before and during the game,” Pappas said.
The more than 6 million geolocation transactions represent a 14% increase year over year according to GeoComply.
“I think we’re seeing the markets grow incrementally each and every year,” Pappas said. “Because more and more players are recognizing the value of if they’re going to bet they should bet on a legal, safe option that’s available in their state.”
March Madness betting
While the Arizona Department of Gaming hasn’t released any wagers in 2023 yet, experts expect March Madness will top the Super Bowl as it did last year.
Chris Boan, an analyst with BetArizona.com said with the Super Bowl being just one day and the Big Dance a whole month, there are more betting opportunities.
“Should be a fascinating month, should be a historic month for Arizona,” Boan said.
With ASU, UArizona and GCU all playing in the men’s tournament, plus Arizona Women’s Basketball also competing, there’s a local fanbase that’s willing to bet.
“In NCAA men’s basketball – huge draw, we already know that. But NCAA women’s basketball – an on tap market that operators are finally starting to realize there’s a lot of money there,” Boan said.
That’s why Boan said experts expect March to be such a big sports betting month, and why he’s expecting historic numbers could come again in 2023 to Arizona.
“This could be the first $700 million month in Arizona history,” Boan said.
Up to Speed
Catch up on the latest news and stories on the 12News YouTube channel. Subscribe today.