iBET ETF Insights:  The American Gaming Association, estimates 45 million Americans will wager $3.1 billion on the tournament, and around 36.5 million will bet something on a bracket or office pool. The numbers here are extremely conservative, we should have totals towards the end of the month. All we have seen are record breaking numbers, expect more of the same. With all the upsets so far, the house is winning.

iBET ETF Insights: DraftKings is down over 43% over the past three months, and 72% during the past 12 months. Jason Robins CEO vows that people who are selling his company’s stock will “regret that decision” he wrote on twitter, “If you sold #DKNG today, just be aware that my team and I are on a mission to make you regret that decision more than any other decision you’ve ever made in your life.” Robins has an optimistic long term approach on his sports betting and fantasy sports company. During the company’s last earnings call, Robins pushed for more states such as California to legalize sports betting, the company is hoping for Nationwide legalization as soon as possible.

iBET ETF Insights: The plan to legalize sports betting in Missouri has advanced to the House. The recent push has been backed by the St. Louis Cardinals, St. Louis Blues, and the St. Louis City soccer club. These teams are looking to build a brick-and-mortar location at their fields to allow bettors to wager at the game. In the past the bill has fallen short, not receiving enough votes, however this year it received a 4-2 vote. The proposal has been put on fast track since January, when Missouri’s pro teams and gambling casinos reached an agreement to lobby together.

iBET ETF Insights: The USFL is set for a relaunch of its football league that rivals the NFL, though not in talent. Along with the launch, they have announced that 15 states across the country have authorized licenses to start to accept wagers on the USFL. The revamped season for the USFL is set to begin on April 16th with the New Jersey Generals facing the Birmingham Stallions. The USFL is divided into two divisions North and South, teams are set to play 10 regular season games with 2 rounds of playoffs. The league was originally shut down in 1986 when they tried to challenge the NFL and move their games to fall. The USFL will give bettors something other than basketball to place bets on at a time right now where baseball is filled with uncertainty.

iBET ETF Insights: Two years ago, Chicago opened its doors to allow for sports betting at its casinos, and since then they’ve done $9 Billion in wagers across the state. With a new law Sunday, residents are now able to sign up for sports betting accounts on their phones instead of driving down to the casino. The staggered opening allowed the brick and mortar casinos to get a head start on operators such as FanDuel and DraftKings. With March Madness around the corner, the online registration process could have a substantial effect.