Microsoft: Down Economy Will Not Hamper Wagering on College Basketball

Almost half of Americans will risk their money in at least one college basketball tournament pool, even in the context of the global financial crisis. According to data made available by the Redmond company via the MSN Hoops Hysteria Survey, no less than 45% of Americans will continue to wage money on college basketball in 2009, an indication that the down economy has done nothing to hamper their wagering habits. Americans surveyed by MSN indicated that the economic downturn represented no reason for them not to enter college basketball pools starting this March.

Even with unemployment estimated to climb as high as 8.8%, wagering on college basketball defies the general tendency to cut back on spending habits. Whether it is the attraction of fast money or the expression of being a true basketball fan, more Americans will enter at least four college basketball tournament pools in 2009 compared to 2008, with 34% of those surveyed having indicated that they would enter a minimum of two pools.

College basketball bracket pools manage to grab in excess of $2.5 billion on a yearly basis, revealed the FBI, cited by the American Gaming Association. With the level of loyalty to wagering among Americans as high as ever, 2009 will be absolutely no different, economy crisis or not. The people who were surveyed indicated that they would spend at least the same amount of money in 2009 as they did in 2008, in a proportion of 72%. 15% plan to cough up less money, while 13% are ready to wage even more compared to last year.

Over 50% of wagers intend to spend at least $20, and the vast majority of people surveyed indicated that, in the eventuality that they would win $1 million, they would focus the new financial resources on paying off debt and saving up.