It wasn’t long ago that Las Vegas officials wouldn’t even think of applying to host NCAA championships because the state was prohibited from doing so because of its legalized sports betting.
The lack of mobile wagering and a ban on betting on California colleges and universities could prevent Nevada sportsbooks from facing crushing competition.
A report from Chicago-based global outplacement and executive coaching firm Challenger, Gray Christmas found that about 75 million people are expected to spend an average of six hours watching the tournament while at work.
A 19-member committee charged with identifying potential sporting events for Southern Nevada and to research the formation of a sports commission had its inaugural meeting Friday.
Derek Stevens has gained priceless promotional value with his NCAA Tournament gambit. Before the tournament, the aggressively loyal Michigan grad bet $25,000 on the Wolverines to win the championship at 40-1 odds.
The American Gaming Association believes $10 billion will be bet on the NCAA “March Madness” basketball tournament that begins this week and only 3 percent of that will be wagered legally.
Despite hosting four Division I conference basketball tournaments, state-of-the art facilities and the NFL and NHL putting franchises in the city, Las Vegas still can’t get the NCAA to drop its policy on sports gambling in order to host a championship event.
The West Coast Conference men’s and women’s basketball tournaments will be sticking around in Las Vegas — at least through 2019.
Although March Madness is a great way for friends to compete against each other, billions of dollars are won and lost by universities, companies and individuals each year trying to find the perfect bracket.
Up and down the Strip Thursday, college hoops fans from every corner of the U.S. were checking in to hotels, placing bets at bustling sports books and mixing testosterone with Bud Light and small hills of nachos. It’s big business for Las Vegas’ resort industry.