Americans plan to Bet on March Madness to the tune of $8.5 billion. About 1-in-5 adults will be placing a bet on the NCAA men’s basketball tournament, according to a new survey released today by the American Gaming Association.

“During this year’s tournament – the first in post-PASPA America – sports fans are expected to bet 40% more than they did on this year’s Super Bowl,” said Bill Miller, AGA’s president and chief executive officer. “Unlike any other sporting event in the country, March Madness attracts millions who fill out brackets, make casual bets with friends or wager at a legal sportsbook, which Americans can now do more than ever before.”

Since the U.S. Supreme Court’s ruling in May 2018, more than $5.9 billion has been wagered in the now-eight states with legal, regulated sports betting, enabling consumer protections and generating valuable tax revenue for state, local and tribal governments across the country.

“These results indicate there’s still work to do to eradicate the vast illegal sports betting market in this country, and we’re committed to ensuring sound policies are in place to protect consumers, like the 47 million Americans who will bet on March Madness,” continued Miller.

More stats and information on how Americans will Bet on March Madness at the American Gaming Association.