The NCAA Men's Basketball Tournament holds a special place in the heart of many sports fans. This 65 team dance has become second only to the Super Bowl in television viewership and attracts far more casual sports fans than its typical football and baseball counterparts. Why?
I wish the reason for the popularity of this annual madness lies in the drama of the battles between powerhouses like Oklahoma and North Carolina as they face unknowns such as Cleveland State and Western Kentucky.
Sadly, instead of the burgeoning stars that light up the tournament year after year taking center stage, increasingly gambling has become the centerpiece of the "Big Dance." According to U.S. News and World Report, sports fans illegally wager an estimated $7 billion every year to determine the victor at the end of this three week event.
All across the nation and especially college campuses, including UT Austin, normal people bet a seemingly insignificant $10 for a chance at $100. However, apart from the illegality of this action, these bets are infamous for their casual nature.
It seems to me this might be a sign of the times. How can we condemn the wall street bankers that made casual and irresponsible bets with our 401k's and pensions if we wager $7 billion on one tournament alone? But perhaps more importantly, can we really justify teaching the next generation that making casual, illegal bets is appropriate?
I know, its only 10 bucks, but its this devil-may-care attitude that broke the bank. Only with a new mindset can we begin to fix the problems we now face.
For more information visit: http://www.usnews.com/articles/opinion/2009/03/17/ncaa-march-madness-can-cause-lifetime-gambling-problems.html
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Still, though, illegal gambling aside, an argument could be made that March Madness helps stimulate the economy. :)
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