Industry

The 68-team bracket will be unveiled on “Selection Sunday” March 12, and the games begin on March 14. The American Gaming Association’s pre-tournament estimates before last year’s tournament suggested that over $3.1 billion in wagers would be placed, and that figure is expected to rise again this year.

Members of Penn Entertainment, Las Vegas Sands, Caesars, and Wynn were all named four of the most overpaid members of the gaming industry. Penn Entertainment CEO Jay A. Snowden had the highest ranking of the bunch (third) and was paid just under $66 million, compared to average employee salaries of $33,930.

In a post shared on his Instagram, he revealed his “psychotic” bets that could win a total of over $4.5 million. Among his many bets, he is riding with Patrick Mahomes and the Kansas City Chiefs to defeat the Philadelphia Eagles and secure their second Super Bowl in four years.

The night before the big game between the Chiefs and Cincinnati Bengals, Drake revealed via Instagram that he had bet $1.1 million on the top-seeded Chiefs. The Bengals had beaten the Chiefs in last year’s AFC title match…

Having opened for business less than a month ago, sportsbooks are capitalizing on the Bengals’ good fortune in the NFL playoffs. If they beat the Kansas City Chiefs this weekend, they will advance to play in their second straight Super Bowl…

According to an agent with the Minnesota Alcohol and Gambling Enforcement Division (AGED), two men are charging a 25% premium to place bets at slot machines in Minnesota casinos on behalf of their followers. They record the bets being placed and the eventual outcome and broadcast it for everyone to see.

Anthony Grant, head coach at the University of Dayton, spoke at a Tuesday press conference on threats and other negative comments that the Flyers have received online since the market launched on New Year’s day, telling critics “we don’t need you.”

The anonymous gambler placed a live bet with -12500 odds, meaning that they would have profited just $11,000 from their enormous bet. Much to the bettor’s assured horror, the Chargers blew a 27-0 lead and lost 31-30 eliminating them from playoff contention.

Now, he is back to try his hand as a kicker. If he converts from 25 yards, he will win FanDuel bettors $10 million in free bets, and if he misses, well, let’s hope he practiced his smile.

The Cavs were a focal point for Caesars in the pre-launch buildup, with weekly raffles for free tickets until the recent inauguration. Their coach is not disavowing sports betting, but his hesitance is a careful reminder that sports betting is a tricky path to go down.