What about those brackets we all fill out in the office pool? It’s estimated that 40 million people participate with $9 billion up for grabs. Well, this bit of office distraction is technically a form of gambling and thus illegal, as this New Jersey man found out. His pool grew to $837,000, which drew the attention of the NJ district attorney and he now awaits trial.
So what’s my financial recommendation as it pertains to March Madness? Choose the #12 seeds over the #5 seeds (the most common upset in the tourney), keep your office pool small and under the radar, and pick the Cyclones to get to the Final Four.