Sports Betting explodes during March Madness; Indiana benefits

The n-c-double-a tournament is one of the most exciting times of the year... especially for fans.

The play "on" the court during march madness is one thing..

But news 10's dominic miranda explains how sports betting has made march even more engaging... and how the state of indiana is benefitting sports betting has taken indiana by storm since late 20-19..

In fact... indiana gamblers bet over 273 million dollars on sports during february.

Basketball accounted for over 46 percent of the state's total haul.

Experts tell me those numbers are predicted to explode during the spectacle that is march madness.

[take pkg incue: since sports betting outcue: **bite**event like this duration:1:11] pk} since sports betting became legal in indiana back in 20-19..

Its created over 20 million dollars in tax revenue for the state.

Founder of sports gambling newsletter "cappers collective" nate spangle says this is just one of the reasons this is so good for indiana.

"it just creates a whole new aspect of fun and engagement into sports, specifically college basketball because every point matters.

It's nice to have a little bit of monetary incentive at the end of it you know.

You win 10 to 20 bucks and call it a good night."

Professor of economics at indiana state university bob guell says its not just that.

He says yes... having the ncaa tournament in indiana and legalized sports betting gets people in the door... but it also showcases indiana's ability to hold national events.... and is great exposure for the state.

"you have all these people in the state but you are also broadcasting to the entire country the ability of indianapolis to hold a big national event and to have the hotel capacity, have the athletic facilities, have the everything that you need in order to pull off a big event like this."

Indiana's basketball obsession... combined with traveling gamblers to the one-time-host of march madness... could end up turning march's sports betting handle into a new record for the state.

If you or someone you know has a gambling addiction... we've linked to how to get help over on our website..

That's wthi tv dot