Friday Forum: March Madness

The NCAA basketball tournament, better known as March Madness, started yesterday with its usual games of upsets, last-second dramatics, and blow-outs. Regardless of the outcome, millions of Americans love watching the games (and betting on them).

We're going to begin today with a pre-assessment.

1. How many years has there been an NCAA basketball tournament?

2. How many teams are in the tournament?

3. How much is estimated to be wagered on the tournament worldwide?

4. What are the odds of a perfect bracket?

5. How much did CBS and TBS spend on a 14 year contract with the NCAA to televise the games?

6. How much did CBS and TBS earn in ad revenue last year from the tournament?

7. How much lost worker productivity (in dollars) is estimated due to the tournament?

8. Approximately how many Americans fill out a bracket?

9. How many teams were in the first NCAA basketball tournament?

10. How much money did Warren Buffett and Quicken Loans offer for a perfect bracket last year?

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Source: WalletHub