Planning to fill out a March Madness bracket this year? Here’s what you’re getting yourself into. You’ve got a one-in-35.4 BILLION chance of correctly picking every single game . . . that’s lower than the odds of winning the Powerball, at one in 195 million. Overall, 62% of people say they’ve lost money on betting on the NCAA tournament . . . 17% have won more than $200.
On Monday, there’s a good chance someone’s going to ask you to join a March Madness pool. So you might as well know your odds of actually ending up with a few extra dollars.
First of all, you WON’T pick all the games correctly. You’ve only got a one-in-35.4 BILLION chance of correctly picking the result of every single game in the tournament, as well as the handful of play-in games.
Your odds of winning a POWERBALL LOTTERY are better than that . . . those are about one in 195 million. And that pays off hundreds of millions of dollars . . . not just $150 collected from your coworkers.
And according to a nationwide survey, 62% of people have lost money betting on the NCAA tournament.
BUT . . . that means almost two-in-five people HAVE won money on March Madness. 17% say they’ve even won more than $200.
Overall, 31% of people say they definitely plan on betting on March Madness this year.