Photo courtesy of Elite Casinos

As much as $1.5 billion could be wagered on this year’s NCAA Men’s Basketball Tournament and Riverside Casino and Golf Resort is looking to cash in on the action.

Sources say the tournament is expected to become the first sporting event in U.S. history to surpass $1 billion in legal wagering, and Riverside Casino Marketing Director Damon John says more bets from the casual fan will play a key role in reaching the mark, “Around the time of March Madness where there’s more of the common sports enthusiasts, someone who’s not necessarily following sports very closely, anytime there’s an event like the Super Bowl or March Madness, we certainly see an influx in the interest of the event.”

John says the casino’s Elite Sportsbook should also see a boost from “The Hawkeye Effect” with Iowa being highly seeded in this year’s tournament which starts this Friday. He says it’s also easier to place bets with the state no longer requiring gamblers to register in person at a casino first before placing a bet. Now, it can all be done online.

According to the Iowa Racing and Gaming Commission, sports betting at Riverside Casino was almost $38 million dollars for fiscal year 2021 with just over $35 million paid out in winnings as of March 5th. The casino’s biggest ever month for sports betting was December 2020 with almost $6.8 million wagered and about $6.4 million in payouts.

*You can hear more from John online in this episode of “In Touch with Southeast Iowa.”