An estimated 45 million people will place bets during this year's March Madness.
Betting for Sunday's game is expected to be up approximately 78 percent from 2021.
The Florida Republican is considered a potential presidential rival to former President Donald Trump.
The record winnings reflect growing comfort among consumers returning to casinos after the initial decline during the COVID-19 pandemic.
Democrats, who are the current majority on Capitol Hill, saw disappointing returns across the country on Election Day.
There were a number of unexpected positionings given the outcomes of the weekend game.
There was also a 3X Megaplier in play on the Friday draw, tripling the amount players could win outside the main jackpot.
A year after the Derby was held behind closed doors, up to 48,000 fans will attend the Run for the Roses at Churchill Downs on Saturday.
Those who backed Trump to win the race have criticized the decision, with one even suggesting legal action.
President Donald Trump said in a Wednesday tweet that oddsmakers claimed he was ahead of President-elect Joe Biden by 97 percent on election night.
Despite a Biden victory, the soon-to-be-ousted president has not yet conceded the 2020 election race to his Democratic rival and speculation has mounted that Trump will look to run for office again.
Although Donald Trump has so far accounted for the majority of bets on the market, the largest volume of money has been wagered on Joe Biden.
Joe Biden has been the clear betting favorite to win the 2020 Presidential Election since May and now leads the polls with a 61.9 percent implied probability of clinching victory ahead of Donald Trump.
The Republican president received a substantial late boost overnight, moving from an average 35 percent implied probability of clinching victory to a 40 percent chance.
The 2020 U.S. presidential election is set to be the biggest-ever betting event with wagers worth close to $400m expected by November 3.
Trump's chances of clinching a second term in office are almost double what his odds were this time four years ago.
The latest polls paint Biden as the overwhelming favorite to win the 2020 election. However, in a strange twist, the worse odds that bookmakers give Trump, the more bettors clamor to back him.
The grand prize for the draw stood at $97 million, with a cash option of $74 million.
The largest wager, for £115,472 ($148,058 at today's exchange rate), was placed on Sunday for the former vice president.
Democrat Joe Biden's odds briefly dropped to the lowest of the 2020 campaign so far on the Betfair Exchange, before recovering.
The Cliffton, a bar in Patchogue, posted a Super Bowl-esque betting box on its Instagram account last week. In it, patrons could purchase four boxes, each with a number predicting the city's shooting-death totals over Labor Day weekend.
A new Divorce Calculator from MyBookie will provide couples and friends with betting odds for their marriages to show how likely their marriage is to last.
'Once Upon a Time in Hollywood,' 'The Irishman' and 'Marriage Story' are all likely to take home gold.
Multiple betting websites have announced Drouin's odds at +300, ahead of the second favorite, Miss Universe Philippines, who came in at +500.
Here are the winning numbers.
The Mega Millions lottery results are finally in—but can you claim the prize money? The winning numbers are revealed here.
The Mega Millions lottery results are finally in—but can you claim the prize money? The winning numbers were: 7, 27, 31, 34, 51 and 5.