Legal sports betting on the men’s and women’s March Madness events is set to hit a record high of $2.72 billion this year, making it the biggest sports betting event in the US, even surpassing the amount wagered on the Super Bowl. This surge in betting activity comes as 38 US states and Washington DC now permit sports betting, resulting in a staggering $120 billion in wagers and $11 billion in revenue in 2023.
The recent launch of legal sports betting in North Carolina, a college basketball hotbed, has only added to the excitement surrounding March Madness. However, concerns about the potential threats and abuse faced by student-athletes due to gambling interests have been on the rise. The NCAA reports that around one in three high-profile athletes receive abusive messages from individuals with betting interests.
In response to these concerns, Ohio passed a law in 2023 to prevent gamblers from harassing athletes and placing bets in the state. Efforts by betting giants to sponsor universities have faced setbacks, but gambling has become increasingly integrated into campus cultures. To combat this issue, a bill is being considered in Maryland to block online gambling on campuses using geofencing technology.
With the widespread prevalence of sports betting, student-athletes are facing added pressure and potential risks. Examples of harassment and unethical behavior have emerged, prompting discussions on how to protect the integrity of college sports. While college athletes are now able to monetize their name, image, and likeness, reducing the temptation for match-fixing, the heightened attention on March Madness games makes such foul play less likely.
Despite these challenges, the significance of March Madness in the sports world remains undeniable. As the excitement builds for this year’s tournament, the focus on ensuring fair play and safeguarding student-athletes from the negative impacts of sports betting continues to grow.
“Infuriatingly humble tv expert. Friendly student. Travel fanatic. Bacon fan. Unable to type with boxing gloves on.”