Expected $100 million to be spent in Indianapolis during NCAA tournament
INDIANAPOLIS (WISH) — The NCAA tournament brings business both on and off the court. An article from WalletHub says it can be beneficial to the Indianapolis economy but can also take a toll on fans’ wallets.
This is the first time a single state will host the tournament in its entirety, after being canceled for the first time ever last year.
20,000 fans will visit Indianapolis and more than 2,000 volunteers have signed up to help.
According to WalletHub, games aren’t cheap to attend. The starting retail price for game one starts at $110 and for the finals it’s around $1,500. Plus, there’s a 19% increase in beer and pizza sales.
Overall, there’s an expected $13.3 billion in corporate losses due to unproductive workers. An average worker will spend six hours watching march madness and 56% of millennials are willing to miss a work deadline to watch a game.
The pandemic impacted the 2020 tournament. There’s an annual revenue loss of $600 million due to the pandemic.
47 million people participate in college bracket pools. There’s an average bet of $30 on the tournament.