In yesterday’s post we cited information on how many people will get involved in March Madness in the workplace. The mechanism that pulls most people in is simple to identify – the infamous bracket pool. While technically bracket pools are illegal, most offices have them and the workplace “braketologist” hardly ever wins. It’s usually the person who goes with favorites or picked a big upset because of a logo or they know someone who went to school at a Cinderella.
• It’s estimated that $2.5 billion in illegal bets are placed on tournament
• 33% of American’s are expected to watch the tournament 40% said they will watch if their favorite team is involved
• One in four people who watch the game, plan on betting on it
• Roughly 60% of people who are involved in brackets or gambling lose money
What Does This Mean To You?
While HR and IT employees may not like March Madness, participation continues to grow.
Yes, March Madness can be a drain on time and productivity – the estimated cost may be as high as $134 billion dollars. It can also be something of a morale boost. I’m not advocating any company endorsing or sponsoring a bracket pool, they are still illegal. But embracing it as an activity that is going to take place anyway might be a good idea. Brown bag lunch meetings where employees can fill out brackets, putting on the games in a break room and posting brackets might be something that brings a staff together. Putting the games on in a break room may keep some workers from eating up bandwith on your network. March Madness is a unique event that can help you show that your workplace can also be a fun place. For more information on how to help your staff perform better, please contact:
Source: Challenger, Grey & Christmas; CouponCabin; American Gaming Association