Monday, March 16, 2009

Americans Wager On March Madness Despite Foul Economy

REDMOND, Wash. (Wireless Flash - FlashNews) – Despite the foul economy, Americans are still willing to take a shot and wager on March Madness.

The infamous college basketball tournament tips off this Thursday (Mar. 19), and according to a survey by, more than 33 percent of Americans say nothing will stop them from entering the b-ball pools – not even the economy.

In fact, more than 50 percent of basketball fans entering the pools plan to bet at least $20 this year, and 22 percent believe their wager will do better than their 401k.

Moreover, devoted fans of the Western Athletic Conference are feeling lucky enough to pull out the big bucks, with 36 percent planning to wager at least $40 on their picks.

But while Americans have a care-free, fun attitude about betting on basketball brackets, most are grounded in reality and have big plans for their winnings.

If they slam dunk and win $1 million, 75 percent of Americans say they’d either pay off debt or save the money – a smart way to weather the economic storm.

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