NCAA Tournament will cost employers an estimated $4 billion

PROVIDENCE, R.I. (WPRI) — There’s a lot of money at play when it comes to the Big Dance, so we’re breaking down some of the numbers.

According to WalletHub, 125,000 fans are expected to be in Phoenix for the Final Four of the NCAA Tournament. Wallethub estimates each fan will spend about $2,100 on lodging, food and public transportation.

The average face-value cost of a single-game ticket to a final four game is $477, and the Final Four’s projected economic impact on its host city is somewhere in the neighborhood of $100 to $150 million.

WalletHub also estimates $4 billion worth of corporate losses because of unproductive employees during the tournament.

Then there’s the gambling. In 2016, about 70 million brackets were completed, according to WalletHub. An estimated $9.2 billion was wagered on the tournament and approximately $8.9 billion of that was wagered illegally.

According to Forbes, the odds of filling out a perfect bracket: 1 in 9,223,372,036,854,777,808 (1 in 9.2 quintillion).

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