The NCAA men’s basketball tournament -- better known as March Madness -- is one of the most exciting sports events of the year, drawing tens of millions of fans who watch the action in the stands, on the couch and even at work.
The tournament offers a big financial boost to cities and some industries. The numbers that are involved are as towering as the players.
Take a look at these examples of Money Madness.
1. Work gets sidelined
The tournament's blanket television coverage hooks fans, including many workers who slack off during the day games. Studies have blamed March Madness for at least a $4 billion loss in worker productivity.
As smartphones have gotten better and data plans have made streaming of the games easier, many employers have simply given up on policing staff. The tourney is just too popular!
2. Big wins for host cities
Dayton, Ohio, is a perennial host of the “First Four” games that kick off the madness. The event gives the local economy a more than $4 million boost each year, local officials say.
March Madness means big business for restaurants, hotels and especially bars in the lucky cities where the games are played.
3. Seat prices touch the rim
As of early March, tickets for the 2019 National Championship game scheduled for April 8 in Minneapolis were selling in the secondary market for up to $3,376 each.
But that's a bargain compared to the NBA finals. Last year, courtside seats for Game 2 of the Golden State Warriors-Cleveland Cavaliers series were offered for as much as $77,000, according to TicketCity.
4. Package, er, deals?
The tournament's official ticket seller has been promoting 2019 package deals for the Final Four — including game tickets and a hotel room in downtown San Antonio — starting at $2,545 per person.
Note: That's the price at the cheapest of three possible hotels, and you have to be willing to squeeze four people into your room to get that per-person rate.
5. Pricey rights
Because March Madness commands a huge television audience and is an advertising bonanza, CBS Sports and Turner have happily paid big money on a long-term contract to broadcast the games.
The media giants agreed to spend over $19 billion to lock up the national television rights to the NCAA men’s basketball tournament for a period of 20 years, from 2011-2032.
6. March M-ads-ness
The NCAA finals rival only the NFL finals as a major advertising event, says Kantar Media, and ad spending on the college tournament rises by up to 5% per year.
Companies spent $1.28 billion on commercial time during March Madness in 2018, Kantar says.
Here's a reminder of why marketers love to join the madness: An estimated 23 million TV viewers watched the 2017 title game between North Carolina and Gonzaga.
7. Prize money for some players
A lucrative side tournament introduced in 2018 features four-man teams from NCAA Division 1 schools eliminated early from the main event.
This year's second annual "3X3U National Championship" offers $150,000 in prize money.
The players will be seniors who have exhausted their eligibility in the NCAA, so the prize money is legal for the participants to accept.
8. A financial goose egg for most
While a select few players go on to make millions in the NBA, the vast majority of March Madness participants will never earn any money from basketball.
As student-athletes, college basketball players are generally not allowed to be paid for playing.
They typically get scholarships — along with the unique excitement of playing in front of roaring crowds under the bright lights.
9. Putting a head on the beer industry
Each year, the NCAA tournament helps make the brewing industry a lot frothier, financially speaking.
Brewers increase their production, and — depending on the region — beer sales increase by as much as 26%, says Upserve, a maker of restaurant management software.
The college basketball playoffs put the biggest head on beer sales in the Midwest. Beer buying gets the smallest lift in the Northeast, where sales rise just 10%.
10. How you say 9,200,000,000,000,000,000
It's estimated that Americans complete more than 70 million brackets for the NCAA tournament each year.
The odds of completing a perfect bracket are nearly impossible: 1 in 9.2 quintillion. That's 9.2 billion billion.
It’s mathematically easier to win the Mega Millions lottery back to back than to fill out a bracket with no errors. Good luck!
11. Dribbling out money
The NCAA distributes a portion of the proceeds from the tournament back to the schools providing the teams and talent.
In 2016, the association shared $205 million with its conferences, to be split among the individual universities.
12. Wanna bet?
The vast majority of gambling on March Madness occurs illegally (and technically, that includes your office pool!), so it can difficult to determine the true figures on betting.
The American Gaming Association estimated that fans wagered more than $10 billion on last year's tournament, including just 3% — only about $300 million — bet legally, through Nevada's sports books.
13. Coaches with the most
In many states, a college coach is paid the highest salary of any public employee. In Kentucky, the top earner is John Calipari, who coaches the University of Kentucky’s basketball program.
Calipari is making $7.99 million in total pay for the current season largely thanks to a seven-year, $52.5 million deal he signed in 2014.