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March Madness is expected to generate $3.1 billion in bets. This expert urges caution

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A basketball with a March Madness logo rests on a rack before a First Four game between Illinois and Mississippi State in the NCAA women's basketball tournament Wednesday, March 15, 2023, in South Bend, Ind. (AP)
A basketball with a March Madness logo rests on a rack before a First Four game between Illinois and Mississippi State in the NCAA women's basketball tournament Wednesday, March 15, 2023, in South Bend, Ind. (AP)

This article was originally published on March 14, 2025.

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