by Maureen Q. Dwyer, Esq.
It’s once again time for “March Madness,” the NCAA basketball tournament. The 65 teams will soon be selected, brackets announced—and office-betting pools printed out. Then comes the agony of whether to select a Cinderella team or your alma mater. If your workplace is like many, talk of picks and the Final Four will be everywhere.
USA Today sports analyst Danny Sheridan estimates that $6 billion will be wagered illegally on the NCAA basketball tournament, making it the fourth largest sports betting event. A fair amount of that $6 billion will be bet on office pools—usually just a few bucks at a time.
While work pools are a lot of fun, they also can present some risk for employers. Anti-gambling groups often urge employers not to sanction office pools.
Should employers be concerned about office pools and the bigger issue of gambling in the workplace?
Bet on a few problems
Most office poo...(register to read more)