Monday, March 14, 2011

March Madness Outranks Super Bowl As Top Workplace Betting Event

Vault.com is out today with its 2011 Office Betting Survey.

Vault.com finds 71.5% of respondents surveyed have taken part in some kind of office pool. Of these people, 65% said that their workplace gambling has included an NCAA bracket, while 58% have put money on the Super Bowl and 13% have bet on an Oscar pool at work.

The most interesting finding, however, is that March Madness has replaced the Super Bowl as employees' top office betting pool. In 2008, the Super Bowl was the most-gambled on workplace event, with 51% of employees throwing some money into an office betting pool, compared to 48% of employees betting on March Madness. But now, March Madness is employees' top betting event by a seven-point margin.

What gives? The Great Recession has altered many of our habits, possibly including employee betting habits. There might also be a generational effect going on here as younger, March Madness-loving employees enter the workforce and want to run bracket pools like they did in the college dorm. It's hard to tell. Maybe someone can conduct a follow-up survey.

Click here to read more about the Vault.com Office Betting Survey and see a slide show.

Beat Duke!

P.S. -- Here's my March Madness companion post entitled "Does March Madness Really Hurt Employee Productivity?" (Hint: not as much as managers think.)

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