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The Florida Gators warm up during practice as they prepare to the Virginia Cavaliers in the second round of the NCAA Men's Basketball Tournament at CenturyLink Center on March 15, 2012 in Omaha, Nebraska.
The annual college basketball tournament known as March Madness is here once again. If you work in an office, there's a good chance you've been hearing about it for weeks. The office bracket pool has become a regular part of the annual tradition.
In addition, gambling on March Madness has become a big business. Government employees are prohibited from taking part in office pools, and many states outlaw betting on March Madness brackets.
However, thanks to the Internet, free brackets are still widely used and accepted, and monetary betting happens offline. In addition, these sports brackets are often the first time young people and college students experience gambling.
How did March Madness become such a phenomenon? How big is the March Madness gaming industry? What are the legalities associated with betting on fantasy sports?
Ben Bolch, NBA columnist for the LA Times
David Carter, Associate Professor of Management and Organization & Executive Director of the USC Sports Business Institute. Author of the book, “Money Games: Profiting from the Convergence of Sports and Entertainment”