NCAA Mens Basketball – Money Madness Mar 19th, 2008
By: betEd.com Handicappers
CappersPicks.com NCAAB Handicapping Staff
Check in with CappersPicks.com Best NCAA Basketball Sportsbook Review daily for exclusive NCAA Hoops bonus betting specials, and gambling promotions. Plus get all the Info on upcoming basketball matchups, which will allow you to bet on all the March Madness tournament games plus Final Four, in our approved secure and safe online College Basketball betting sites.
March 19th, 2008 – Money Madness
Everyone points to the Super Bowl as being the big daddy of all moneyed sporting events. However, even considering the colossal economic impact it has on the U.S. economy, it is a poor second to the NCAA Men’s Basketball Tournament.
Ya wanna talk money? Forget the pros.
From a wagering point of view, what begins Thursday at 11:55am ET is as if an entire NFL football season was crammed into sixteen days. Last March, Nevada bettors wagered more than $228 million on the tournament and with online and office pools, hundreds of millions, if not billions more.
Just how big has it gotten? One survey this week has forty-eight percent of all U.S. employees participating in an NCAA pool at work this year. Almost half of the American working force is consumed by a basketball tournament.
And there are still questions about how America could go into recession?
According to another study, based on the time millions of workers take filling out brackets and checking out games results online, the 16 days of the tourney could cost America’s employers $1.7 billion in lost productivity.
$1.7 billion. That’s a big number.
The problem is, those pencil necks based their results on some weirdly conservative numbers: 28.3 million to 37.3 million participants taking a total of 10 minutes on their brackets and results.
Try twice as many players. And only ten minutes? More like ten hours.
First off, who has ever filled out their bracket in ten minutes? This year it’s going to take at least that amount of time to figure out that Stephen Austin is actually a school and not the $6-million man.
Second, dozens of games are streamed online live for all to see during working hours. With half of America’s employed trying to get the broadband stream all at once, that ten minutes will be taken up by just loading the site.
So forget $1.7 billion. With enough nail biting finishes and triple overtime games – all those lost man-hours could drive the U.S. into a full-fledged depression.
Yet, what we are all drooling over isn’t only about big money from and for the poolies.
Tournament sites rake it in as well, taking in about $15-20 million in hotel room and restaurant revenues.
The schools are also in the money. Before the George Mason University Patriots made their Cinderella run to the Final Four two years ago, pretty much the only folks who had heard of the Virginia college were Mason’s immediate family.
Now, due to its high profile performance, according to USA Today, admission inquiries have jumped 350%. Active alumni increased by 25%, and the university earned an estimated $667-million in national, regional and local broadcasts.
$667-million. If CBS wanted to make their Road to the Final Four special, really special on Sunday night, instead of having their cameras focused on the players waiting for their team names to be called, they should have put them on the school’s chancellors and presidents.
Octogenarians high-fiving and belly-bumping?
Must see TV.
For CBS, streaming those games online will earn them an estimated $21-million alone. Pile on the money they make from on-demand, regular, cable and digital TV revenues, their take will be an estimated $545 million.
Most of that money goes to the NCAA, who are in the middle of an 11-year rights contract worth $6 billion. They also get all the ticket and merchandise revenues – and although they don’t reveal how much that brings in, it’s purported to be in the hundreds of millions.
So – where does all that money go?
Four percent is distributed to athletic programs out of something called the Special Assistance Fund for schools who are not as high profile (like George Mason before 2006). That’s about $12-million.
The other ninety-six percent goes to the teams that did the best in the tournament.
Or in other words, since Cinderellas are so rare, the rich schools and programs just get richer.
The March Madness Tournament could generate over $10-billion dollars of business in 2008.
It’s almost hard to believe that some who are directly involved actually don’t make out like bandits.
The players do get free room and board however.
Cheers – Gavin McDougald – AKA Couch
Check out betED.com daily throughout March Madness.
betED.com features hot lines on your favourite sports action, amazing no download flash casino games and a poker room where you’ll never wait to find someone to play with!
Powered By: Bet Ed College Basketball Betting
Guaranteed Winners or your money back and Free Picks in the NFL football, NBA basketball, MLB baseball, NCAA college football and basketball, Nascar Racing, Arena Football nhl hockey leagues and more. We are part of the internets Premier Sports Handicappers League with full documentation of all members on this sports betting news and info portal. Free Membership, Join Today and start Winning! Send cappers picks an e-mail and we’ll try to answer your question as soon as possible. Because of the large volume of mail cappers picks gets, it may take a couple of days to get a response. Please trust us to know cappers picks will make the right choice for your sports handicapping and sports betting needs and we pride ourselves on our customer service in the sports handicapping industry. The team here at cappers picks encourages you to make educated decisions for offshore and internet sportsbooks to bet with, so we do the hard work for you. CappersPicks.com online sports betting staff are the only website guru’s you’ll need for your sport book lines, reviews of sports betting sites, sports predictions, and sports picks. We have complete confidence in the sports handicappers we promote and the sportsbooks listed on this website – they all offer fair betting lines, fast payouts and top notch customer service. We want to keep you involved all year long with sports gambling, from NHL hockey, to NBA basketball, and right into european soccer season, plus Nascar, Arena Football, NFL football and NCAA and college football betting. Cheer on your favorite teams.