Basketball fans. Sports bettors. They collide for the NCAA Division I championship tournament, called March Madness. An extended series of basketball games between the best male and female teams exists. It used to be shared for American workplaces to organize sweepstakes, prediction brackets, etc. However, these activities are on a downward trajectory with offshore sportsbook allowing sports betting to enter the mainstream in every state.
Sports Betting Became More Accessible
In the 1990s (and further back), placing a bet on a sporting fixture was relatively complex. There were no applications, websites, or other online mediums to place a wager. You had to visit a brick-and-mortar establishment, and there weren’t that many in the US, given the social attitudes towards gambling.
Therefore, the office's idea of putting together a pool of money to predict the March Madness winner was a good concept as it appealed to multiple people who otherwise couldn’t gamble on sports. Whether it be a randomly allocated team via sweepstakes draw or a prediction-based system, it provided an outlet for those wanting to bet on this tournament.
Sports betting has since become much more readily available for patrons. As mentioned above, those interested in it could bet on March Madness at their leisure. Instead of waiting for the social scene in the office to arrange the betting, avid bettors can use offshore sportsbooks for March Madness to place a series of bets, sometimes incredibly intricate which allow for greater freedom and offer more money making potential.
Endless Downward Trend
There, of course, is a consequence of more people betting on our own volition. This not only removes their participation but reduces the pool of money being entered, as fewer people were involved. This had a knock-on effect, as the people who took place because of the immense cash prize potential were not as interested in the funds being reduced, further casting participation down. Until eventually, nobody wanted to play – and the organizer didn’t bother wasting their time.
Bettors Want Choice
One of the core reasons why sports bettors now shy away from March Madness sweepstakes is that they offer minimal choice or control. Someone might want to back Maine’s team to win – but the randomly allocated sweepstakes selection gives them…Fordham. They will be much less interested in the bet, given they have a much worse team than the one they think will win the March Madness tournament.
Plus, sports bettors have long developed beyond result betting. Now, they want to be able to place player props and bets on specific events in games and even in-play bets while watching the games. The sweepstake and workplace tournament bracket doesn’t afford these desires and limits many choices.
Working Environments Changed
It’s also no secret that our working environments have significantly changed in the past few years. Remember that global pandemic? It showed employers that their workforce, in large sample sizes, could work from home and be efficient, as reflected by the current working trends in the US.
This, in turn, disrupted many workplace communities and activities. If a team isn’t in five days a week or all simultaneously, playing a game together becomes tricky and troublesome. Managing time to collect, arrange, and schedule becomes very fiddly, meaning that many workplaces simply do not indulge in such frivolities anymore.
Why March Madness Suited Larger Workplaces
March Madness suited itself to larger workplaces where an office floor might have had 30+ people. This is because the format of the tournament is easy to follow. Sixty-eight teams start the tournament until the final four play in the deciding series, and then an eventual winner is crowned. Sixty-eight teams means that, in theory, you could get 68 different players from your workplace, all putting in $5 to make a very handsome prize pot of over $300.
If you’ve got a workplace or office with these numbers, why not try reviving the workplace casual wagering? Smaller entrance fees or doing it just for fun could resurrect the sports-predicting pastime at the American workplace.
March Madness on General Popularity Decline
Using raw data from Google Trends, it’s clear that people are generally less interested in March Madness. The search term: ‘NCAA Men's Division I Basketball Tournament’ peaked in 2019 but has never eclipsed the popularity it set then, with around 25% fewer searches for it every subsequent year. As a result, it’s no coincidence that fewer people are betting on it at work or privately; there is just a general decrease in people's interest in this sporting competition.
