Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

The Real Cost of March Madness

By Ben Steverman, with Eben Novy-Williams and Seth Magalaner - 2012-03-21T23:12:14Z

Photograph by Glenn Pinkerton/Las Vegas News Bureau via Getty Images

Company Symbol % Change
9 of 16

Gambling Billions

Statistics on illegal gambling are impossible to verify, but RJ Bell, founder of Pregame.com, estimates $3 billion has been wagered in NCAA pools among friends and coworkers across the U.S.

The legal gambling happens in Nevada, where Mark Goldman, director of race and sports book operations at Cantor Gaming, expects $75 million to $80 million to be wagered throughout the tournament. Of the major sports championships, March Madness is second only to the Super Bowl, which prompted $93.9 million in wagers this year, according to the Nevada Gaming Control Board.

Advertisement