It starts with sixty-five teams, runs for almost three weeks and consumes the lives of million of fans, from college students to gamblers. March Madness, also known as the NCAA basketball championship, is a sporting event that celebrates the underdogs as much as the favorites.
March Madness is also big business, attracting some $500m in TV advertising alone. It has also become a marketing tool for schools whose teams who make a name for themselves in the tournament. As for gambling, it generates an estimated $7 billion in legal and illegal betting combined. Here's a roundup of CNBC's coverage.
James Worthy, the Hall-of-Fame Los Angeles Lakers star, talks to CNBC's Becky Quick about a new ticket service for fans, the impact oif gambling on the tournament , and, of course, what team he expects to win. Worthy is no stranger to the madness; he was a member of thw 1982 championship team -- the University of North Carolina.
The bracket system makes March Madness fun for fans and bettors alike, but It is often a make-or-break proposition for even the best teams. Darren Rovell reports.
Chances are you're in an office pool, but chances are you didn't plunk down much money. It's employers who are paying. Darren Revell explains.
March Madness may not be a popular event for companies. Between the games and the betting pools, productivity is taking a hit. Darren Rovell speaks with John Challenger, CEO of Challenger, Gray & Christmas about its annual study of the issue.