March Madness by the numbers: Costs, profits, gamblers and traveling fans
March Madness is upon us.
NCAA Tournament brackets are being filled out at an alarming rate. People are typing “Murray State” and “Wofford” and “Colgate” into search engines for the first -- and likely last -- time.
It’s an event that draws in even non-sports fans. There are upsets and Cinderellas and bluebloods.
There is no wrong bracket. Or dumb bracket. If the tournament is played 10 times, 10 vastly different results would emerge.
Here are a few numbers inside the Big Dance, courtesy of WalletHub --
$10 billion: Amount wagered on the 2018 NCAA Tournament ($9.7 billion illegally).
$4 Billion: Corporate losses due to unproductive workers during March Madness.
$142 million: Expected economic impact for Minneapolis, which is hosting the Final Four
18X: Difference between the average NBA rookie’s salary ($2.75 million) and a D-1 scholarship ($150,000).
$8.98 million: Duke coach Mike Krzyzewski’s salary for 2019.
$2.1 million: NCAA president Mark Emmert’s annual salary through 2023.
$164.7 million: NCAA’s basketball fund’s 2017-18 distribution to D1 schools.
$100 million: Profits for Las Vegas casinos off March Madness.
$1.7 million: Price of a 30-second ad during the 2018 NCAA title game.