Pulpit rock

Big Business of March Madness

Great article in WSJ posted HERE on the enormous gambling market of March Madness, some facts/excerpts below:

“When it comes to betting, experts expect more money to be spent on March Madness than the Super Bowl. According to RJ Bell, the owner of Pregame.com, $12 billion dollars will be spent worldwide on March Madness betting. This exceeds the $10 billion bet on the Super Bowl worldwide. However, Bell notes that comparing the amount of money spent on betting for the two events may not be wise, as the Super Bowl draws that amount of bets for just one game, whereas March Madness sees its amount over the span of 67 games.”

Also to my fellow Bruins, take note of the below before placing a bet based on seeds:

“Minnesota is an 11-seed, but they’re favored by three points over UCLA. If UCLA loses this game, the guys on TV will call it an upset. The reality though, is it wouldn’t be an upset because Vegas says Minnesota is supposed to win that game.”

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