
According to the FBI, several million Americans illegally will bet an estimated $2.4 billion on the annual NCAA Division I basketball tournament, more commonly known as "March Madness" this month (Harrop, 2006). Las Vegas’ casinos are expected to make about $90 million from March Madness this year (Harrop, 2006). Wagering on the basketball tournament, which will reach approximately $4 billion dollars, also includes online betting, small-stakes betting among friends, and office pools. Office pools generate $750 million in bets nationwide, (Haugh, 2006) and some pools get very large. Last year, a New York office pool reached $200,000 in a Calcutta... Read more →