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Unproductive workers cost employers $4 billion during March Madness NCAA Tournament

Ben Tobin
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Unproductive workers cost employers $4 billion during March Madness NCAA Tournament

Workers bet money in office pools, with the average bet on the NCAA Tournament $20 to $50. Restaurants see uptick in beer and chicken wing sales.

With March Madness in full swing, it's not just brackets that are being busted.

The average American may be spending more money than usual. According to WalletHub, the average bet on the NCAA Tournament is $20 to $50, and there is 20 percent and 24 percent increase in beer sales and chicken wing orders during the tournament, respectively.

Office productivity may take a hit, too. WalletHub estimates employers face $4 billion in corporate losses due to unproductive workers during March Madness.

Here are some fun March Madness facts:

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$8.5 billion

The amount that will be wagered on this year's tournament, according to the American Gaming Association. This is down from the estimated $10 billion in bets from last year's tournament.

56 percent

The percentage of millennials who would be willing to miss a work deadline because of March Madness, according to WalletHub.

1 in 9.2 quintillion

The odds of picking all 63 games correctly in a bracket for the NCAA Basketball Tournament. 

March Madness logo at mid court.

$19.6 billion

From 2011 to 2032, The amount CBS /Turner will pay from 2011 to 2032 for the TV/streaming rights to the NCAA Basketball Tournament.

14

The number of cities that will host the 2019 NCAA Basketball Tournament.

Six hours

The amount of time spent watching March Madness by the average worker, according to WalletHub. 

 $1.32 billion

The total amount of ad revenue from the 2018 NCAA Basketball Tournament.

Over 97 million

The amount of U.S. viewers who tuned in to watch March Madness in 2018.

Murray State guard Ja Morant dunks against Marquette.

$0

The amount of money the NCAA pays the players participating in the tournament.

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Follow USA TODAY intern Ben Tobin on Twitter: @TobinBen

This article originally appeared on USA TODAY: Unproductive workers cost employers $4 billion during March Madness NCAA Tournament