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Mad About March Madness

MAD ABOUT MARCH * THE E CONOMICS BEHIND TH E NCAA MEN'S DIVISION ONE CHAMPIONSHIP ★ March Madness is about hardcore hoop playing by collegiate super-athletes, but the real madness of America's favorite tournament is actually in the revenue it generates. Exclusive TV deals, colossal coach salaries, and heavy betting have turned the most celebrated tradition in college sports into a numbers game. Here, we take a look at that revenue and how Americans fit into the equation. O PAYD AY NUM BERS Roughly 96 percent of the NCAA's annual revenue is generated through March Madness. A deal negotiated with CBS in 2011 earns the NCAA $10.8 billion until 2024, with games broadcast on the network's various channels, including CBS, TNT, TBS, and truTV. 2$ NCAA. A 30-second advertising slot during a first-round NCAA Tournament game can go for over $100,000. That same spot costs over $1 million during the finals. Betting is estimated to generate up to $12 billion, far more than is wagered annually on the Super Bowl. $3 billion of that will be bet in office pools across the CBS also has another revenue stream in digital media, and expects to make about $30 million for Its online country. broadcasts-some 30 percent more than it made in 2008. DESCRIBE YOUR ATTITUDE TOWARD MARCH MADNESS * In a recent online survey conducted by MSN, more than half of respondents indicated they will watch the college basketball tournament. 61% 35% 4% "I'm into watching the games, but mostly for socializing and being part of a bracket pool." "I eat, breathe, and "I don't see the big deal; I won't be viewing or participating." sleep March Madness." 50 PTS | 64 PTS AT THE OFFICE * According to the survey, employees plan to devote plenty of time to watching the games or following the score, even during work hours. 86% 57% of respondents said they plan to devote at least some time during their workday to follow games, scores, and updates. will be reading, watching, and checking stats online. 56% 52% plan to dedicate at least one hour of work during the first two days of the tournament to watching games or following scores. plan on talking to coworkers about their brackets, 43% 6% will check their mobile phone for the latest numbers. will check their mobile phone for the latest numbers. *Numbers do not add to 100 percent because respondents were allowed multiple answers. Only 14 percent of surveyed respondents indicated they will not participate in March Madness during work hours. TAKING A GAMBLE * More than 50 million Americans participate in March Madness office pools, and more economic stability seems to be affecting spectators plans to make wagers this year, according to a Harris Interactive conducted on behalf of CouponCabin.com. 31% Nearly one-third (31 percent) of those who plan to bet money on the tournament this year said they will bet more than last year. Those wagering on the tournament know that the odds of picking winners of so many games can be challenging. More than 4-in-10 (43 percent) of those who have bet on March Madness said they have never won any money, and 62 percent said they have lost money. 43% 62% A third of people believe their March Madness bet will offer a better retum than their 401(k). SOURCES: COUPON CABIN.COM FISCALTIMES.COM | MSN.COM | SPORTSDIGEST.COM | COUPONCABIN.COM

Mad About March Madness

shared by CouponCabin on Mar 19
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March Madness is about hardcore hoop playing by collegiate super-athletes, but the real madness of America’s favorite tournament is actually in the revenue it generates. Exclusive TV deals, colossal...

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