As NCAA basketball’s March Madness tournaments continue, millions of Americans have staked millions of dollars on the games.

That’s why the National Council on Problem Gambling named March Problem Gambling Awareness Month, using the competitions as a way to draw attention to and raise awareness of the dangers of excessive wagering.

Every year, both fans and non-fans alike rush to craft the perfect March Madness bracket in time for the monthlong tournament. According to ESPN, an estimated 17.3 million brackets were submitted for its 2022 Men’s Tournament Challenge, but no perfect entries remained as the Sweet Sixteen got underway Thursday.

Around $8 billion is wagered on games throughout the contest each year, according to NCPG, a number that tops the $7.6 billion in bets the American Gaming Association said was placed on the Super Bowl in 2022.

As brackets bust due to the notorious upsets during March Madness, so do the bankrolls of millions of Americans: An estimated 17%, or 45 million residents nationwide, will gamble on NCAA basketball in some form this March, AGA reports.

And that number will likely balloon, as states across the country have legalized sports betting in a variety of capacities in recent years. Methods such as mobile sports betting, in-person betting in casinos or online sports betting have been increasingly accessible, but for Delaware Council on Gambling Problems director of downstate services Steve Gonzer, other factors can be dealt in.

“I’m not sure that there’s more or less gambling now than there has been historically, but with social media, it’s a lot more available and more people want to gamble,” he said.

“They advertise constantly. You can’t turn on the TV without every other commercial being about some sportsbook or some method of gambling. The problem is they make it look great and romanticize it all.”

Sportsbooks such as DraftKings, FanDuel and BetMGM have all increased spending on marketing. Just last September, Front Office Sports reported that sportsbooks would spend an estimated $1 billion on ads and commercials during the 2021-22 NFL season.

Plus, the pandemic accelerated issues related to problem gambling, Mr. Gonzer said, adding that COVID-19, accompanied by sportsbooks’ 24/7 ads on TV and social media, have certainly hooked people on the vice.

“It was the perfect storm, you know. People are bored and looking for excitement. Especially people whose brains are wired for addiction, they’re just bored. So during the pandemic, gambling seemed a lot more attractive,” he said.

“Everybody’s on their phones, sitting at home. You can sit in the privacy of your own home and bet now. It’s a slippery slope and can become a problem quick.”

AGA reports that about 20.9 million Americans are expected to bet on the NCAA tournament via sportsbooks, the internet, a bookie or friends outside of the traditional bracket contests offered on ESPN or CBS, for example. Wagers can include bets on single games, score totals or the winner of the entire tournament, among other chances.

For many March Madness gamblers, it’s easy to ride with the favorites to win, but that’s not always a safe bet.

AGA conducted a survey of bettors, who identified Gonzaga (17%), Duke (12%) and Kentucky (11%) as the favorites to win this year. But unpredictability is the name of the game, as bettors who chose Kentucky to go all the way know: The No. 2 seed Wildcats fell to the No. 15 seed St. Peter’s Peacocks in the first round last week, making it just the 10th time in tournament history that a No. 15 has defeated a No. 2.

When gamblers lose, it can lead bettors down a problematic path, Mr. Gonzer said.

Chasing losses — or when gamblers who lose then place more wagers in an attempt to make their original money back — is one of the clearest signs of a gambling issue.

“One of the biggest things, and it seems obvious, is when someone spends too much time gambling. Whether it be at a casino or on your phone, you never want to spend an excess of time gambling,” Mr. Gonzer said.

“Not engaging with family or friends is another one and was made worse during the pandemic. The isolation has been a big problem because people are just not engaging when they’re stuck at home.”

He said the Delaware Council on Gambling Problems can help problem gamblers on the road to recovery and that it’s important to responsibly wager within your means should you join in on the madness of March.

“You never want to spend too much time gambling or worrying about money because of your habit,” Mr. Gonzer said. “Everybody talks about what they win, but nobody talks about what they lose.”

The Delaware Council on Problem Gambling offers a variety of resources, including group support meetings via Zoom and a 24/7 confidential hotline, 888-850-8888.