March Madness is a time where many basketball lovers sit together with family and friends, while eating wings and watching colleges play for the final spot. This is a common past time in our society, but our beloved entertainment addiction has several flaws.
First of all, gambling ruins the experience for casual viewers of March Madness. While many others are there to see their favorite team compete, others are too busy focused on calculating the amount of money they’ll win. According to the FBI, approximately $2.3 billion is illegally laundered during March Madness. The experience is meant to be enjoyed by all the viewers, not just an opportunity to make money.
This especially doesn’t help the situation when billionaire, Warren Buffet, offers one billion dollars to whoever picks and chooses the perfect bracket. The perfect bracket involves predicting all of the contenders. The chances of filling out the perfect bracket are far-fetched, but this still inspires countless people to give it a try.
There’s nothing wrong with a small bet between friends and co-workers. The feeling of competition in the workplace can be very rewarding, and keep tensions up. Most importantly, people will be paying close attention.
March Madness can also give the coaches and teams bad reputations.
If a prestigious college loses an upset game, the dedicated fans may automatically blame the coaches. While a variety of factors determine who wins and who losses, not all cases tie back to the coach. But when teams lose, the coach could be seen as someone not doing their job well.
March Madness can also harm our economy.
According to Bleacher Report, March Madness can make a decrease in workplace productivity including the educational environment. In the month of March, many workers lose their focus at work and workplace productivity dips. For every productive hour lost during the first week of the March Madness, companies lose $1.2 billion per hour, according to Bleacher Report.
As a nation, we can’t risk losing that large sum of money, especially for a single event that only determines a champion. Workers not paying attention to their job are costing companies billions of dollars for their lack of ability to focus on their job.
March Madness should be an opportunity to take some time off and watch basketball, anything beside that is an unfavorable action.