Like in many workplaces, we have a low-stakes March Madness pool going in my UBS office. Winner gets $50! No, gambling is never a ‘financial plan’, but at low stakes it can be fun. My own view is that small purchases of lottery tickets and similar games are ok, so long as the amount spent is truly de minimus… inconsequential to the person. Essentially, it becomes an entertainment expense, not a financial strategy.
By the way, I am one of those who believes that no one will ever have a perfect bracket. The odds against it are staggering; incomprehensibly low to the human mind, except to say the odds are zero. It’s impossible. To perfectly predict the tournament, a person would have to correctly guess the outcome for 67 games. Assigning even odds to every game, the odds of a perfect bracket are 1 in 147,573,952,589,676,000,000. I believe that is 1 in 147.6 quintillion. Assuredly, the odds are a little better… it’s not exactly unreasonable to assume that a #16 vs a #1 is not a 50/50 game. But the most generous assumptions you can make won’t push the overall number out of the ridiculous realm.
But does anyone have any interest in an NCAA Tournament that doesn’t include Stanford? 😉