More Than One-Third of March Madness Bettors Plan to Bet More on The Tournament Than They Did on the Super Bowl, Finds New CouponCabin.com Survey
--Thirty-Six Percent Plan to Bet More This Year Than in Years Past --
-- Nearly Six-in-Ten March Madness Bettors Have Lost Money; Twelve Percent Have Lost $200 or More --
WHITING, Ind., March 13, 2013 /PRNewswire/ -- The Super Bowl is typically considered the biggest event in sports, but for some Americans, March Madness gets a higher ranking. A new CouponCabin.com survey reveals that more than one-third (34 percent) of March Madness bettors will wager more of their hard-earned cash on the tournament than they did on the Super Bowl. In addition, 21 percent of U.S. adults said they would rather watch March Madness than the Super Bowl. This survey was conducted online within the United States by Harris Interactive on behalf of CouponCabin.com from February 15 – 19, 2013, among 2,252 U.S. adults ages 18 and older.
As the economy continues to recover, the stakes for betting on March Madness have risen each year. In fact, more than one-third (36 percent) of those who plan to bet money this year plan to bet more than in years past. This is up from 31 percent who said the same in 2012. Overall, one-quarter (25 percent) of those who plan to watch the tournament this year plan to bet on it.
Those wagering money on the tournament know that the odds of picking the winner of so many games are a challenge. In fact, the survey reveals that, of those who have bet on March Madness:
- Lost money – 59 percent
- Lost between $51 and $199 – 9 percent
- Lost $200 or more – 12 percent
On the flip side, 16 percent said they have won between $1 and $50, 19 percent have won between $51 and $200, while 19 percent have won more than $200.
Regardless of whether or not they have money riding on the outcomes, many people will follow the matchups closely. One-third plan (33 percent) plan to watch at least one March Madness game this year. The teams picked on Selection Sunday will influence who tunes in, though. Forty percent are more likely to watch if their favorite team is playing and 32 percent are more likely to watch if their alma mater is playing.
"No matter which teams are picked to dance this year, the tournament is guaranteed to capture the attention and money of many Americans," said Jackie Warrick, senior savings advisor at CouponCabin.com. "While the matchups are exciting, make sure to not get carried away. Set limits on the number of brackets you enter and the amounts you wager to protect your finances. It's also important to be aware of your company's policies if you tune into the action from your workplace."
With many games airing during the workweek, some people will tune in to March Madness while at the office. Of employed adults who plan to watch at least one tournament game, more than one-third (34 percent) plan to watch March Madness games at work, whether on their computer or on a TV in the break room. This is down from 38 percent who said the same last year.
Not only do workers watch the games at the office, they spend time researching the brackets while on the job. Half (50 percent) of employed adults who plan to watch the tournament this year have spent time researching March Madness matchups while at work.
When asked how many hours they've spent in the past investigating teams on the clock, respondents said the following:
- 1 hour – 18 percent
- 2 hours – 12 percent
- 3-10 hours – 14 percent
- 12 + hours – 5 percent
This year's survey was conducted online within the United States by Harris Interactive on behalf of CouponCabin.com from February 15 – 19, 2013, among 2,252 U.S. adults ages 18 and older, 752 of whom plan to watch March Madness this year and 191 of whom plan to bet money on the tournament. The 2012 survey was conducted online within the United States by Harris Interactive on behalf of CouponCabin.com from February 23rd – 27th, 2012 among 2,307 U.S. adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact Allison Kaplan, firstname.lastname@example.org.
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