March 16, 2016

Madness in March

Madness in March

Yes, it is that time of year when College Basketball fans (and gamblers) get to take out their bracket and choose who they think will win round by round and ultimately the national championship. I am not sure which I am more annoyed with the fact that the basketball that is played is not as interesting to me or the fact that fans and non-fans take so much time to prepare their bracket challenges and bet on the final victor.

Though I love basketball, college hoops have gotten much less of my attention. Maybe it is because the NCAA has gone 3-crazy, but I suspect it has lost it's the charm for me because College Basketball (and many other college sports) have become a very big business.

Check out this very interesting infographic below or this link: March Madness. Make no mistake this is a billion (with a B) industry that profits on the back of "student-athletes". For example, interested in buying a Denzel Valentine jersey, maybe the Bahamian native Oklahoma's Buddy Hield's? Well when you drop 50 bucks down, please don't kid yourself that these players see any of this money. That is the problem in my eyes. All the media companies, paraphernalia providers and colleges greatly profit on the back of the players (which is the reason we watch!).

Of course, the tournament is littered with March Madness Horror Stories that result in a fan's personal finance knowledge to be challenged. I would add to that many workers are less productive during this time; taking time off and/or watching games while at work. And I suspect it has much to do with the fact that they are gambling on their choices in the bracket.

My advice? Watch and enjoy the game, even fill out a bracket or two (but don't wager on it), but this is really the time you should be gathering your financial information to get ready to file your taxes by April 15th!

BTW, I pick Michigan State. They have great talent on their team, but I think Coach Izzo is one of the best and will bring them to another title.