In a report released Sunday night, the American Gaming Association predicted that $3.1 billion will be wagered on this year's tournament, a figure that includes legal bets as well as those placed with illegal bookies or offshore websites.
About 45 million people in the U.S. say they plan to bet on this year's March Madness college basketball championship tournament.
The report asserts that more than 17% of American adults will place at least one bet on the tournament. While fewer Americans were expected to place bets on last month's Super Bowl won by the Los Angeles Rams , the amount expected to be wagered on the game was $7.6 billion, more than twice the amount forecast for the college basketball tournament, according to the association.
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