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March Madness and Wagering

March Madness and Wagering

With March Madness closing in, wagering on the frenzy of college basketball games that overrun the television has taken new form in the workplace. In a recent Vault 2013 Office Betting Survey, March Madness draws a response that 80% the people surveyed confess that they will engage in some sort of office betting pool during the 2013 March Madness Basketball Tournament. Included in this survey, 79% agreed that wagering at work was an acceptable act.

“Professionals in the business realm are working hard to meet the demands of today’s workforce and need a way to release steam. If done the right way, March Madness and other office betting pools as a way of bringing coworkers closer together. When you use social events like March Madness or the Academy Awards, it can increase the camaraderie that allows increased teamwork and project flow.” Explained Tara McCaffrey, vice president of marketing at Vault.com

According to this recent survey, many also believe this gives an opportunity for coworkers to interact on a more social level and enhances the opportunity to get to know their coworkers in a more personal relationship.march madness

Over half of the people surveyed in this poll, 49%, were unsure if their company had a policy for or against office betting pools on such events like March Madness or any other events that betting pools could be created. 11% were positive that the company shunned away from any type of wagering in the office setting while 39% were unsure whether there office policies even addressed office wagering.

“There are many negatives involved when you look at gambling in the workplace” explains Mary Drexler, Executive Director for the Connecticut Council on Problem Gambling. “Loss of work production and gambling addiction is a big problem in the USA”

There are many signs associated with problem gambling. Gambling Anonymous can provide you with information regarding problem gambling and what to do if you suspect a coworker or yourself may have a problem with gambling.

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