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March Madness gambling to hit $8.5B

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Americans are estimated to bet $8.5 billion on the NCAA March Madness men's basketball tournament.

The American Gaming Association found roughly 47 million U.S. adults are expected to place bets on the tournament this month.

Of the total, $4.6 billion in bets will be made via 149 million tournament brackets, according to the association.

Read more from Fox Business.

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