Loren Torres brings you the biggest news of the day, including all you need to know about the numbers behind the NCAA Tournament.
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00:00The NCAA tournament is officially here, and while everyone is focused on the action,
00:04there's another side to March Madness, the money.
00:07According to WalletHub, the NCAA is slated to bring in $1.4 billion in revenue for the 2024 college basketball season.
00:14And this season will end in San Antonio, where 100,000 visitors will make an estimated $400 million economic impact over the Final Four weekend.
00:21An estimated $2.7 billion in legal bets will be placed during the tournament,
00:25but another $4 billion in illegal wagers will also be placed.
00:29All of that betting is sure to take people's attention away from what they're supposed to be doing, right?
00:33The average worker will spend six hours watching the tournament,
00:36which will factor into the $17 billion in corporate losses employers will suffer due to the dip in productivity.
00:42And what kind of March Madness would it be without filling out a bracket, or two, or $80 million?
00:47WalletHub says that's how many people are projected to take part in a bracket pool.
00:51And if you think you know enough ball to fill out a perfect bracket, you don't.
00:54The odds of picking every single game correctly are one in 9.2 quintillion.
00:58One quintillion is equal to one billion billions.
01:01You have a better chance of winning back-to-back lotteries with only one ticket played each time.
01:05That'll do it for your daily briefing from New York City. I'm Lauren Torres with The Street.