How big is sports betting? Here’s how much money is lost with the coronavirus. Jason Dill, Miami Herald · March 19, 2020 at 6:53 am Every March, billions of dollars are wagered on the NCAA’s men’s and women’s basketball tournaments. The nickname, March Madness, isn’t just for the pulsating, buzzer-beating action on the court but also for the stress-induced swings every sports gambler feels during every game they’re sweating. But instead of all that money profiting Las Vegas sportsbooks and anywhere else gambling is legalized — 20 total states plus Washington D.C. have legalized sports betting, according to The Action Network, following the Supreme Court’s lifting of a federal ban on the activity in 2018 — there’s a whole bunch of revenue missing from those sportsbooks due to the novel coronavirus strain, COVID-19. The disease has caused a worldwide pandemic with countries such as Italy and Spain going into full quarantine, while limits on large social gatherings is being recommended from both the U.S. Center for Controlled Diseases and Prevention and President Donald Trump.