Betting on March Madness in Canada is increasing as the Sweet 16 stage of the men’s NCAA basketball tournament is scheduled to begin on Thursday.
Without a consecutive title holder (UConn is eliminated), there are seven teams from the SEC, four from the Big Ten, four from the Big 12, and one team from the ACC remaining. The BYU Cougars (6) take on the Alabama Crimson Tide (2) first on Thursday at 7:09 p.m. EST, featuring matches across two days.
"[March Madness] definitely generates good interest for us,” said a spokesperson for PointsBet Canada. “And we expect volume to go up as the tournament goes on.”
Canada’s Responsible Gambling Council (RGC) published its Big Games sports betting survey concentrating on youth wagering on significant sports events such as March Madness, emphasizing safeguards against problem gambling.
The majority of Ontarians (89%) intend to view at least one significant sporting event this year, and more than three-quarters (77%) are set to bet on a major game, such as the Sweet 16, Stanley Cup playoffs, World Series, FIFA World Cup, or Super Bowl.
The RGC survey indicates that 41% of bettors reported wagering more than they could afford to lose in the last year, while 39% mentioned that gambling has caused them stress and anxiety.
The survey indicated that those risk factors are more prevalent among younger individuals and participants in March Madness betting.
"Most Ontarians bet to have fun but the biggest gambling risk is the illusion of control – the misconception that an outcome can be predicted, which can lead to over confidence that skill and knowledge of sports gives an advantage in winning,” said RGC CEO Sarah McCarthy. “Regardless of sports knowledge and expertise, gambling is random – but a plan to manage risk shouldn’t be.”
The survey indicated that 47% of respondents believe the main reason for gambling is to win money, whereas 44% stated they gamble to increase the thrill of the game.
The majority of “Big Game” bettors (72%) feel that their understanding of sports provides them an advantage in forecasting results. One in ten (9%) engage in gambling to try to recoup previous losses – a reason more common among younger individuals and lower-income gamblers. Thirty-five percent (35%) report that gambling has led to financial issues for them or their family.
March Madness wagering attracts young bettors in Ontario, particularly among Black, Indigenous, and People of Color, boasting higher average stakes of $323, whereas Super Bowl LIX drew interest from older, white Ontarians, averaging bets of $190.
The most popular Big Game event for betting in Ontario, according to the survey:
An online survey was conducted involving 1,147 Ontarians aged 18 and older from November 22 to December 6, 2024, utilizing Leger’s online panel.
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