March Madness & Its Economic Impact

March 17, 2021

With March Madness right around the corner, college basketball fans are rejoicing that the tournament is back this year. After COVID-19, canceling the tournament last year college basketball fans are pumped to see their favorite programs resume action and contend for the title in 2021. Every fan loves filling out a March Madness bracket because it makes them more excited to watch the games as they are betting some money on their brackets and if they win, they could get a large sum. Las Vegas and the economy are excited for March Madness to resume action this year as well. After last year's cancellation, the NCAA lost over $600 million in revenue and is looking to make up some of that money in this year's tournament. The tournament in 2021 won't generate that much money because of limited fan capacity only being at 17,500 people. The NCAA still hopes to generate money from concession stand items at Lucas Oil Stadium in Indianapolis. TV ratings should be at an all-time high because of there being limited fan capacity and that's where the NCAA hopes to generate most of its money from. While the NCAA is generating money, the college players don't make a single penny playing in this tournament. Overall, it's good to see the March Madness tournament back in action because of how much an impact it has on the economy.

Stephen M. Amplo
MCA Consultants

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