By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism.
What you should know about the money in March Madness
6e8541da45f28ceb1989b8379e108f01acacd57829fb382d4a2dc998d4e82955
Find out which coaches make millions, which teams can't make a dime, and just how likely you are to win that office bracket. - photo by Sam Turner
The time has come again.

Upsets will be had, champions will emerge, and for two weeks, madness will reign in offices from coast to coast.

But everyone knows that there's more to March Madness than losing your scrupulously wrought bracket to your seer-like cubicle mate who has never watched basketball in his life.

It's also about pitting college-age youths against each other in gladiator fashion while generating an enormous profit for universities, coaches and media companies.

Here are eight figures you should know about the NCAA Men's Basketball Tournament.

$29,100,000

That's how much the University of Louisville Cardinals profited from their men's basketball team last year. According to PointAfter.com, a website that tracks the earnings of college sports teams, Louisville has the most profitable team, bringing in $45,800,000 in revenues and paying $16,800,000 in expenses last year.

According to Forbes, Louisville's surge in profits came when it started playing at its new arena, the KFC Yum! Center, in 2010. With a capacity of 22,090, the third-highest capacity of college basketball arenas, the team's value increased by 40 percent in two years.

-$3,150,000

That's how much the University of Notre Dame Fighting Irish loses each year from its men's basketball team. Notre Dame is the least profitable team, operating at a loss of $3 million. Surprisingly, many teams don't make a profit. According to ESPN, two-fifths of the teams in the 2014 March Madness tournament were operating in the red.

"There is some truth to the fact that our revenues are not comparable on a per-game basis with the Kentuckys and Louisvilles of the world," Notre Dame athletic director Jack Swarbrick told ESPN. "We don't sell commercial signage, we don't have suites and we don't serve alcohol. So we are limited by the choices we make."

1 in 9,223,372,036,854,775,808

These are the odds of choosing a perfect NCAA tournament bracket, according to Business Insider. In case you're not sure how to pronounce that obscenely large number, it's 9.2 quintillion.

This, of course, is based on filling out your bracket randomly, which isn't usually a good strategy but then again, it is March Madness.

$6,356,756

The salary of the highest-paid NCAA basketball coach, John Calipari of the University of Kentucky. According to USA Today, he got almost a million-dollar raise last year. The average annual salary for an NCAA basketball coach is $1,679,275.

Besides their base pay, coaches also make bonuses. The highest maximum bonus of 2015 was $1,450,000, going to Tony Bennet of the University of Virginia. Virginia is the highest-seeded team in the Midwest Conference this year.

$0

The salary of the highest-paid NCAA basketball player.

There has been much controversy over whether college athletes should be paid a salary. According to the Washington Post, the average college men's basketball player is worth $212,080.

College athletes do usually receive tuition waivers and living stipends, which can amount to as much as $65,000 a year. Money argues that offering a salary of $100,000 would actually disadvantage athletes because, unlike tuition, their income would be subject to taxes. After tax, tuition and living expenses, Money predicts that athletes would have $100 left at the end of the year. Nice.

$1,500,000

This was the average cost of a 30-second advertisement during March Madness TV coverage in 2014, according to CBS. The total ad spending in 2014 was $1,134,000, but that amount has gone up consistently since 2009, so we can expect more spending this year.

Additionally, CBS reports that the NCAA grosses roughly $900 million selling the broadcast rights to the tournament.

$9,200,000,000

The amount of money that will be gambled on the event this year. That number's up $200 million from last year.

According to CBS, some of this money will be bet through legal channels, but the majority of betting is done illegally.

The American Gaming Association estimates that 70 million bracket sheets will be filled out across the country, a number that exceeds the number of ballots that will be cast for Donald Trump or Hillary Clinton in November's presidential election.

$4,000,000,000

This is the estimated losses that American businesses will suffer due to the lack of productivity caused by March Madness.

NBC reports that 20 percent of American workers will participate in office pools this year, and many will be more concerned about monitoring their brackets or watching games than doing their work.

That being said, one financial firm told NBC that "efforts to suppress the 'madness' would most likely result in long-term damage to employee morale, loyalty and engagement that would far outweigh any short-term benefit to productivity."

So enjoy the tournament. Just make sure you're getting your work done too.
Sign up for our E-Newsletters
How to avoid 'sharenting' and other paparazzi parenting habits
ce406c66b9871a104ac24256a687e4821d75680dcfc89d9e5398939543f7f88f
A recent study revealed parents often spend up to two hours staging a single photo of his or her child to post online. - photo by Amy Iverson
Before having kids, some people just dont appreciate their friends baby posts. But after having a child of their own, three fourths of new parents jump right on the parental social media bandwagon. If you have become a member of this group, there are some rules to follow for posting responsibly.

Much of a parents worry is how to teach their children to use social media responsibly. We talk with our kids about privacy, oversharing, and setting restrictions on their devices to keep them safe. But parents themselves need to look in the digital mirror once in a while. Before having children, it doesnt take as much effort to think about what to post online. Its up to us to decide what we share about our own lives. But once you become a parent, there are many questions to think about regarding what is appropriate to post about your kids on social media.

In a recent survey, kids clothing subscription company Mac and Mia surveyed 2000 new parents to find out how they are documenting their kids lives on social media, and what concerns they may have.

First of all, people without children seem to feel a bit differently about the onslaught of baby pictures online than those who are parents. 18 percent of people say before they had kids, they were annoyed by their friends baby posts. But after having children of their own, 73 percent admit they post progress pictures of their little ones every single month.

Not only are new parents letting the world know each time their baby is a month older, but they are posting about their kids every few days or so. Men and women report they post 6-7 times per month about their baby.

And while 70 percent of new parents say the benefit of using social media is how easy it is to help family and friends feel involved, there are some downsides. Here are a few tips to avoid the pitfall of becoming paparazzi parents.

Dont miss the moment

In the Mac and Mia survey, some parents admitted to spending up to two hours to get the perfect shot of their baby. That seems a little extreme. New and old parents alike should be careful about spending so much time taking pictures and videos that they dont enjoy the moment. Years ago, I decided to never live an experience through my phone. A study by Linda Henkel, a psychology professor at Fairfield University in Connecticut, found that when people took pictures of objects in an art museum, they didnt remember the objects as well as if they simply observed them.

This photo-taking impairment effect can happen to parents as well. If we are so consumed by getting the perfect photo, we can miss out on the moment all together, and our memory of it will suffer.

Dont forget about privacy

60 percent of couples say they have discussed rules and boundaries for posting their babys photos, according to the Mac and Mia survey. Even so, men are 34 percent more likely to publish baby posts on public accounts. If parents are concerned about their childrens privacy, keeping photos off of public accounts is a given.

In the Washington Post, Stacey Steinberg, a legal skills professor at the University of Florida, and Bahareh Keith, a Portland pediatrician, wrote that sharing too much information about kids online puts them at risk. They write that all that sharenting can make it easier for data thieves to target out kids for identity theft. Check that your privacy settings are where they should be and never share identifying information like full names and birth dates.

Dont be paparazzi parents

36 percent of parents say they take issue when their childs photo is posted online by someone else. Responsible social media users will always ask permission before posting a photo of another child. But parents should also think about whether their own children will take issue with their own posted photos a few years down the road.

When parents are constantly snapping pictures and throwing them on social media, it can be easy to forget to pause and make sure the post is appropriate. I always use the billboard example with my kids. I ask them to picture whatever they are posting going up on a billboard in our neighborhood. If they are okay with that, then their post is probably fine. Parents should ask themselves this same question when posting about their children. But they should also ask themselves if their child would be OK with this post on a billboard in 15 years. If it would cause embarrassment or humiliation, it might be best to keep it private.

Once children reach an appropriate age, parents should include them in the process of deciding what pictures are OK to post. Researchers at the University of Michigan surveyed 10- to 17-year-olds and found children believe their parents should ask permission more than parents think they should. The kids in the survey said sharing happy family moments, or accomplishments in sports, school and hobbies is fine. But when the post is negative (like when a child is disciplined) or embarrassing (think naked baby pictures or messy hair), kids say to keep it off social media.
Latest Obituaries