Thursday, March 21, 2013

A Popular Distraction

Over the next two days, the NCAA March Madness College Basketball tournament will begin with it's opening round games. Historically, these games are the most riveting, as the most games are played in the shortest amount of time. In addition, the sheer number of upsets (lower seed beating a higher seed) increases as well, keeping viewers on the edge of their seat.

Even if someone isn't particularly a fan of the 68 teams in the tournament, there is a whole other side to the March Madness season-ending tournament that guarantees excitement: betting. And betting lots for that matter. RJ Bell of Pregame.com, March Madness betting in 2012 totaled 12 billion dollars, versus 10 billion dollars for the next biggest event, say, the Super Bowl! For more on the topic, check out this Forbes article.

"Boss Button" Option
What shocked me the most, is that sports have enveloped the workplace. It was estimated by a Challenger, Gray & Christmas of Chicago survey that decreased productivity in the workplace during these next two days will result in at least $134 million dollars lost of work not performed. In tandem, an estimated 3 million workers average 1-3 hours of watching the games instead of working. CBS Sports offers free viewing of the games on their website, which includes a "boss button" to cover up the games  with a fake email account if one's boss walks by while they are watching the games on the job.

These numbers and are staggering. It's ridiculous to know that Americans value sports enough to let it disrupt their professions. It truly shows how deeply rooted sports are in the American culture. Costing various companies a total of over a hundred million dollars just to watch college basketball games. I'm not saying I don't enjoy watching them, but know the time and place to do so.

1 comment:

  1. G, Good job blogging this term. This post is provocative. I had no idea the money was so huge! I wonder if you can consider opportunity costs here, though. What might that pool of money be spent on? Is this issue related to controversial proposals to pay college athletes? Last: best graphic?

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