PLAYED, WE HAVE TEAM COVERAGE THIS MONDAY NIGHT. WE START WITH JOSHUA DAVIS. HE HAS A CLOSER LOOK AT HOW THE WAGERING WILL WORK. EVERY MARCH, IT’S ALL ABOUT THE HOOPS AND EVEN THOUGH THE NCAA TOURNAMENT ALREADY GENERATES A TON OF ATTENTION, EXPERTS EXPECT THAT LEGALIZED SPORTS GAMBLING WILL DRIVE IT UP EVEN FURTHER. IT IS THE LARGEST BETTING MOMENT ON THE CALENDAR. JOE MALONEY IS THE SENIOR VICE PRESIDENT OF THE AMERICAN GAMING ASSOCIATION. HE SAYS THE TIMING OF SPORTS BETTING BEING LEGALIZED IN NORTH CAROLINA COULDN’T BE BETTER, AND THAT NORTH CAROLINA, AMONG OTHER STATES, WILL CONTRIBUTE TO A HUGE REVENUE BOOM THAT WE’RE ACTUALLY ABLE TO TAKE A LOOK AT. THE DATA ACROSS THE NEARLY 38 STATES AND NOW THE DISTRICT OF COLUMBIA THAT IS LEGAL AND ARRIVE AT AN ESTIMATE FOR THE LEGAL AMOUNT THAT WILL BE WAGERED IN LEGAL AND REGULATED STATES. THAT NUMBER SITS ACCORDING TO OUR ESTIMATES, WITH THE AJGA AT $2.72 BILLION. HE ADDS. THAT NUMBER INCLUDES BETTING ON MARCH MADNESS BRACKETS AND BRACKET CHALLENGES. TODD MCFALL, AN ECONOMICS PROFESSOR AT WAKE FOREST, SAYS EVEN IF YOU WERE TO PICK THE NUMBER ONE SEED IN THE TOURNAMENT, THAT’S NOT A BET YOU COULD REALISTICALLY CASH IN ON THE. EACH OF THESE GAMES WERE A COIN FLIP WHERE HAW RIVER ONE HALF TO THE 63RD POWER WOULD BE WOULD BE THE ODDS OF GETTING A PERFECT BRACKET. SO IT’S CONSIDERABLY HIGHER THAN THAT. BUT NONETHELESS, IT’D BE LIKE CATCHING A METEOR COMING FROM EARTH, COMING FROM SPACE BEFORE IT HITS THE EARTH. LIKE JUST ABSOLUTELY, TOTALLY IMPROBABLE. HE ADDS. THE BIGGEST THING TO KEEP IN MIND IS WITH GAMBLING IS THAT IT? IT IT’S ENTERTAINMENT. AND AS LONG AS YOU LIKE, STICK STRICT TO A BUDGET FOR ENTERTAINMENT, IT’S NOT A PROBLEM. UH, I THINK THAT THE PROBLEM THAT WE’RE GOING TO SEE SOME WITH GAMBLING IS THAT PEOPLE ARE GOING TO HAVE A HARD TIME STICKING WITH THEIR BUDGETS. IF YOU OR A LOVED ONE FIND YOURSELF STRUGGLING WITH PROBLEM GAMBLING, YOU CAN CALL THE NUMBER AT THE BOTTOM OF YOUR SCREEN. WE’LL ALSO HAVE A LINK TO RESOURCES ON WXII. 12.COM IN WINSTON-SALEM. I’M JOSHUA DAVIS F
North Carolina experts speak on the impact sports betting could have on March Madness
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Updated: 5:59 PM EDT Mar 18, 2024
The schedule for March Madness is officially out, and this year, folks across North Carolina won’t just be wondering how to structure their bracket; they may also be considering sports betting as another way to put their money where their mouth is. Even though the tournament already generates tons of attention, experts expect legalized sports gambling to drive it up even further. Top StoriesGastonia motorcyclist killed in three-vehicle crash in Winston-Salem, troopers sayWinston-Salem man charged with child sex crimes out of Henry County, Virginia, officials sayNorth Carolina man charged in connection to home shooting in McLeansville, Guilford County deputies sayGet the latest news stories of interest by clicking here"It is the largest betting moment on the calendar, just given the volume of games across the men's and women's tournament," said Joe Maloney, the senior vice president of the American Gaming Association.Maloney said the timing of sports betting being legalized in North Carolina couldn’t be better, and NC, among other states, will contribute to a huge revenue boom. "We're actually able to take a look at the data across nearly 38 states and now the District of Columbia and arrive at an estimate for the legal amount that will be wagered in legal and regulated states," Maloney said. "That number sits, according to our estimates at the AGA, at $2.72 billion. And that's really, really significant."Watch: NOWCAST streaming newscasts He added that number includes betting on March Madness brackets and bracket challenges. Todd McFall, an economics professor at Wake Forest, said even if you were to pick the number one seed in the tournament, that’s not a bet you could realistically cash in on. "If each of these games were a coin flip, one half to the 63rd power would be the odds of getting a perfect bracket," he said. "Nonetheless, it'd be like catching a meteor coming from Earth from coming from space before it hits the Earth, like just absolutely totally improbable."He added the biggest thing to keep in mind is that gambling should strictly should only be entertainment. Keep up with the latest news and weather by downloading the WXII app here"As long as you like, stick straight to a budget for entertainment, it's not a problem," he said. "I think that the problem that we're going to see with gambling is that people are going to have a hard time sticking with their budgets." If you or a loved one find yourself struggling with problem gambling, you can call the North Carolina Problem Gambling Helpline at 877-718-5543.Other resources can also be found here.NAVIGATE: Home | Weather | Watch NOWCAST TV | Local News | National | News We Love |TRENDING STORIES
, N.C. — The schedule for March Madness is officially out, and this year, folks across North Carolina won’t just be wondering how to structure their bracket; they may also be considering sports betting as another way to put their money where their mouth is.
Even though the tournament already generates tons of attention, experts expect legalized sports gambling to drive it up even further.
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Get the latest news stories of interest by clicking here
"It is the largest betting moment on the calendar, just given the volume of games across the men's and women's tournament," said Joe Maloney, the senior vice president of the American Gaming Association.
Maloney said the timing of sports betting being legalized in North Carolina couldn’t be better, and NC, among other states, will contribute to a huge revenue boom.
"We're actually able to take a look at the data across nearly 38 states and now the District of Columbia and arrive at an estimate for the legal amount that will be wagered in legal and regulated states," Maloney said. "That number sits, according to our estimates at the AGA, at $2.72 billion. And that's really, really significant."
Watch: NOWCAST streaming newscasts
He added that number includes betting on March Madness brackets and bracket challenges. Todd McFall, an economics professor at Wake Forest, said even if you were to pick the number one seed in the tournament, that’s not a bet you could realistically cash in on.
"If each of these games were a coin flip, one half to the 63rd power would be the odds of getting a perfect bracket," he said. "Nonetheless, it'd be like catching a meteor coming from Earth from coming from space before it hits the Earth, like just absolutely totally improbable."
He added the biggest thing to keep in mind is that gambling should strictly should only be entertainment.
Keep up with the latest news and weather by downloading the WXII app here
"As long as you like, stick straight to a budget for entertainment, it's not a problem," he said. "I think that the problem that we're going to see with gambling is that people are going to have a hard time sticking with their budgets."
If you or a loved one find yourself struggling with problem gambling, you can call the North Carolina Problem Gambling Helpline at 877-718-5543.
Other resources can also be found here.
NAVIGATE: Home | Weather | Watch NOWCAST TV | Local News | National | News We Love |
TRENDING STORIES
