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Association: March Madness betting to top $10B

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The American Gaming Association estimates betting on March Madness games will exceed $10 billion.

Of that, 97 percent would be illegals bets. Only $300 million would be through legal sportsbooks in Nevada, according to the association.

Last year, some 24 million people participated in NCAA pools, filling out 60 million entries and posting $2.6 billion in entry fees, according to a survey by the Mellman Group.

Read more from Fox Business.

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