March Madness is Here

March Madness is the 68-team basketball bonanza that has been known to crown a Cinderella or two, produce at least one shining moment a year, and turn millions of Americans into illegal gamblers. It’s that good and WalletHub is here to take an in depth look.

It’s also huge business both on and off the court, making millionaires out of coaches, conference commissioners and NCAA executives but very few players. Tournament time takes a toll on fans’ wallets, too, and not just in terms of the millions we lose in bracket pools each year. The average single-game ticket costs about $477, for one thing. Roughly 3.5 million extra cases of beer are produced to keep up with increased demand. And there’s the potential for some workplace conflict, since distracted employees cost businesses about $4 billion per year.

In other words, there’s a lot more to this basketball tournament than just basketball. And since money plays at least as much of a role as love of the game, WalletHub analyzed March Madness from tip to title with a special emphasis on finance. You can check out all the interesting NCAA tournament factoids that we found in the infographic below. We also hosted a Q&A with a panel of leading sports business experts on topics ranging from college basketball’s economics to which team will cut down the nets in Phoenix. Enjoy the madness!

March Madness Fun Facts

  • $7.3 Million – Annual salary of Duke Coach Mike Krzyzewski (6X more than Duke’s president), making him the highest paid college basketball coach.
  • 17X – Difference between the average NBA rookie’s salary ($1.99M) and the average value of a college basketball player’s tuition, room and board ($120K).
  • $8.9 Billion – Estimated amount wagered illegally on the 2016 NCAA basketball tournament.
  • 3.5 Million – Extra barrels of American beer are produced each March.
  • $66+ Million – Tournament’s impact on Dayton, Ohio’s economy since 2001.

To see all the stats and the full infographic, please visit:
https://wallethub.com/blog/march-madness-statistics/11016/

Rick Limpert

Rick Limpert is an award winning Atlanta-based freelance writer, columnist, host of The Tech of Sports Podcast and best-selling author. He has covered sports, technology and events all over the world. His works have been featured on Yahoo Sports, Yahoo News, Examiner.com, nba.com and in Sports Illustrated.

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