The NCAA men’s and women’s basketball tournaments kick off, it’s not just about brackets and buzzer-beaters anymore. Thanks to the legalization of sports betting, March Madness has turned into a full-blown betting bonanza that’s got everyone from die-hard fans to casual observers itching to place their bets.

These wagers invite bettors to place wagers on a player’s individual performance, which would in turn lead to a revenue decline for local sportsbooks in the two states, according to research by Eilersand Krejcik Gaming, a consultancy for the gambling industry.

Sportsbooks in the regulated market have confirmed that March Madness is associated with the biggest player spending and betting activity, followed right by the Super Bowl. So, although the estimates by AGA may seem a little odd at first glance, the actual handle that seems to go down on March Madness betting is outstripping the Big Game by a fair margin.