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Not Just Bragging Rights at Stake in NCAA Tournament

Whether you, like President Obama and others, pick Michigan State University to go all the way in the NCAA Tournament or are holding out hope for a Cinderella team to win it all, it’s likely a whole lot of money will be changing hands.  But just how much may surprise you.

Gambling on the games likely to hit $150 million

Oddsmakers take bets on everything from the first basket, who makes it, what time it comes in the game, to who makes the final bucket for the win.  But the number of folks putting money on their “hunch” could be getting out of control.

It’s estimated that during the March Madness run, those hoping to make a quick buck will spend between $135 million and $150 million dollars. That is even greater than what gamblers spent on the Super Bowl at a record $120 million.

Advice from financial analysts is to bet only what you can afford to lose.  Making easy money is a draw for many, but when that “one last try” ends up costing you a rent payment or food money, then the cost is too great.  Remember, everything in moderation……even fun.

Join Jo Anne Paul and Steve Gruber weekdays from 5:30 to 9 AM on 1240 WJIM AM and the Stations of the Michigan Talk Network

 

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