The FBI estimates that more than $2.5 billion is illegally wagered annually on March Madness each year. Comparatively, sports book operators estimate $80 million to $90 million – less than 4 percent of the illegal take – is wagered on the tournament legally through Nevada’s 187 sports books. According to the NCAA, more than 10 percent of Americans participate in March Madness “office pools.”
The top 7 gaming markets in the U.S. and their annual revenues in 2007 were
- Las Vegas Strip $6.750 billion
- Atlantic City, N.J. $4.921 billion
- Chicagoland, Ind./Ill. $2.602 billion
- Connecticut $1.685 billion
- Detroit $1.335 billion
- Tunica/Lula, Miss. $1.243 billion
- Biloxi, Miss. $1.007 billion
More bets are placed on the Super Bowl than on any other sporting event of the year, including March Madness.
Coming in at #2 last year was the Kentucky Derby
The 2007 Super Bowl marked the second biggest Super Bowl revenue for the Nevada Sports Books ever, with gross revenue for the weekend reaching $12.9 million. Approximately $93 million was wagered on the Super Bowl in the state’s sports books in 2007, according to the Nevada Gaming Control Board.
In the 12 states with commercial casinos in operation in 2007, casinos contributed $5.79 billion in tax revenue to state and local governments, a 11.3 percent increase over 2006
In 1989 The Mirage Hotel & Casino Resort opened in Las Vegas and it began the tradition of the destination casino resort. When it opened, the Mirage was the most expensive hotel casino ever built, with construction costs of $630 million. It featured more than 3,000 rooms and headliner attractions such as Siegfried and Roy's magic show.
Slots and other electronic gaming machines generate about 65% of the gaming revenues for the average U.S. casino.
Blackjack is the most popular table game in U.S. casinos.
There are 11 states with "racinos" - racetracks with a casino - Delaware, Florida, Iowa, Louisiana , Maine, New Mexico, New York, Oklahoma, Pennsylvania, Rhode Island and West Virginia.
Of the total amount bet on the Super Bowl, only about 1.5 percent is wagered legally; these bets are made by those over age 21 and physically present in the state of Nevada.
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