If you think you can pick the perfect bracket, think again.
Transcript:
Loren Torres: The NCAA tournament is officially here — and while everyone is focused on the action, there’s another side to March Madness: the money.
According to WalletHub, the NCAA is slated to bring in $1.4 billion dollars in revenue for the 2024 college basketball season. And this season will end in San Antonio, where 100,000 visitors will make an estimated $400 million economic impact over the Final Four weekend.
An estimated $2.7 billion in legal bets will be placed during the tournament, but another $4 billion in illegal wagers will also be placed. All of that betting is sure to take people’s attention away from what they’re supposed to be doing, right?
The average worker will spend 6 hours watching the tournament, which will factor into the $17 billion in corporate losses employers will suffer due to the dip in productivity.
And what kind of March Madness would it be without filling out a bracket or two… or 80 million. WalletHub says that’s how many people are projected to take part in a bracket pool.
And if you think you know enough ball to fill out a perfect bracket: you don’t. The odds of picking every single game correctly are 1 in 9.2 quintillion. One quintillion is equal to one billion billions. You have a better chance of winning back-to-back lotteries with only one ticket played each time.
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