Hundreds of millions will be wagered on the NCAA March Madness tournament this year. At least not legally. According to a report by the American Gaming Association, illegal gaming costs state governments more than $13 billion in lost tax revenue a year. WBRC accessed gaming records both in Mississippi and Louisiana to try and find out how much sports books made and how much each state made in taxable revenue. In Louisiana, between July 2022 and March of 2023, sportsbooks made $148 million.