The Breakdown of How Much Money March Madness Reels in
There’s more to March Madness than the amount of money that it reels into the NCAA and the universities themselves.
The National Tournament is a billion dollar concept that also brings in insane cash to TV networks and Las Vegas bookies. And while the players cannot make any money off their hard work and sacrifice in the tournament, plenty of the coaches do – Coach Mike Krzyzewski of Duke University leading the pack, raking in approximately $9-million annually as per WalletHub. Roy Williams of the North Carolina Tar Heels reeled in $2.1-million in UNC’s National Championship win.
For reference of how much some coaches make, NCAA president Mark Emmert is set to make $1.9-million annually through 2020.
The big name Division I schools with excellent sporting programs continue to bring in crazy revenue as the NCAA pays high dollars for their continued tournament success. The University of Kentucky is the highest-valued collegiate basketball program at a whopping $342.1-million. They are followed by the University of Louisville ($320-million), the University of Indiana ($278-million), Duke University ($190-million), the University of Kansas ($181-million), and the University of Wisconsin ($179-million).
Office pools during March Madness generate a total betting of over $10-billion – most of which is illegal and of course Las Vegas cashes in big, generating nearly $100-million in profits from the National Tournament annually.
Let’s hope actual college players don’t look at these numbers.