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The Money Behind March Madness

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March Madness is one of the biggest events in American sports. Sixty-eight college teams get invited to the Big Dance, but by early April, there's only one team left. The tournament may be about upsets, underdogs and uplifting narratives, but it's also about the money. The NCAA's Division I men's basketball tournament draws in millions of viewers and rakes in more than $800 million each year from its television deal alone. That makes up more than 75 percent of the association's yearly revenue. But it's not just the NCAA that makes money. The coaches are often the highest-paid public employees in their state, and gamblers also stand to make big returns on risky wagers. The NCAA did not return CNBC's request for comment. Watch this video to find out more about the money behind March Madness. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News on Google+: http://cnb.cx/PlusCNBC Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC #CNBC The Money Behind March Madness
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Text Comments (775)
CNBC (26 days ago)
The NCAA brought in $857 million in 2018 from its March Madness TV deal. Should student athletes receive a cut of the profits?
Doorman (3 days ago)
+Addison Hinson I believe some schools give them an allowance of some sort for food, on top of their scholarship
Luke Alverson (8 days ago)
No
Jesus is the way Repent & sin no more (20 days ago)
Not just the athletes being used for slavery but reparations for slavery period in America, check out Dana Stevens : white church most wake up your enslaving god chosen, on YouTube this is a white man telling truth ⏳
himmie1 (23 days ago)
College football makes way more money for the ncaa so this doesn't add up
truth seeker (23 days ago)
+Walter Phillips Let me get this straight. College sports make billions for the schools but you think waiving their tuition and board equals to the amount they make for the schools🤦. Who cares if some athletes get less than others. They're all not suppose to get paid the same amount anyway because all of them aren't generating the same revenue. Do you get the same pay as all of your coworkers🤦. Come on bro. Use your brain
big boi (6 days ago)
i dont think they should pay players but i feel like they should allow them to get sponsorships and sign agents or maybe let them be able to make paid appearances at places. cause TBH where would you draw the line of who gets paid and who doesn't cause there isn't enough money for everyone
Birdknowsbest (8 days ago)
Title 9 is the reason why these guys arent paid. If you pay the men, you have to pay the women. Most college womens sports dont make enough money to support themselves and are funded by mens football and basketball.
saketh kukunuru (9 days ago)
What if they receive the money only after they leave college, that way they are still amateurs.
King Beef (13 days ago)
Billshit, pay the men!
dylan peritz (17 days ago)
2:50 N-doubleC-A?
Jae West (19 days ago)
The player's aren't getting paid in free education because they spend all their time at practice or the games dumb ass...to help their school win a championship. And who's to say they'll go pro.
Jesus is the way Repent & sin no more (20 days ago)
Check out , Stephen Darby : the jacked us, on YouTube and Dana Stevens : white church most wake up your enslaving god chosen, on YouTube this is a white man telling truth ⏳
Ari Marun (22 days ago)
NCAA
David f (23 days ago)
Zion Williamson is getting waaaaaaaaaaaaaay more exposure at Duke than if he was at the Phoenix Suns like DeAndre Ayton or the Sacramento Kings.
Prince8B (24 days ago)
witched in 180 countries lol
Epic Turtle (24 days ago)
Eat Feet
William Mcdaniel (24 days ago)
What is the percentage of players who are African-American who paid for these colleges what is the average percentage that each individual African-American athlete gross revenue for the colleges didn't go look at these white colleges and see how much money they donate back to the black institutions within the black community this is why I say I believe in segregation because that money could it be going into the black community which we know it only benefits the White communities facts
William Mcdaniel (24 days ago)
You know what's crazy yeah white people who make more money not playing basketball then some athletes who just coaches managers and agent
Mlbon Fox (24 days ago)
Actually it was billy packer/ Brent’s broadcasting partner that coined the phrase ‘March madness
Abdul Aden (24 days ago)
So everyone gets to eat except the athlete students...totally fair
Abdul Aden (24 days ago)
So everyone gets to eat except the athlete students...totally fair
Furbbi (24 days ago)
“Twornement”
Dan X (24 days ago)
At least give the players $50 for their petrol and their lunch money. 50 bucks is reasonable enough
Dan X (24 days ago)
Wow can't believe how much revenue they received from March Madness only 2nd to the NFL. The sad thing the players gets peanuts. The real winners here the NCAA and the coaches. Most def
Wilbur Gordon (24 days ago)
This fool said most of the money bet goes back to the winners and the casino's and taxes get a small percent....FUCOUTTAHEERWITDATBULLSHT!
alex picado (24 days ago)
President Trump only makes $1
Osbaldo Duran (24 days ago)
If Zion would play anywhere he would still be famous
Kadeem Samuels (24 days ago)
Did that guy said Zion wouldn’t have as much exposure if he didn’t go to Duke? What the hell? Zion was already Zion before Duke. Wherever he went would’ve been exposure. Smh
HardwoodEnt (24 days ago)
Listen to the guy's explanation whether Zion could've went overseas got paid a million to play one year and earned a massive fan base overseas, oh and haven't you heard of YouTube. We would definitely watch him dunk on people in Europe or Asia
Veritas (24 days ago)
In other words, sports are rigged for these amounts of dollars.
DrizzleTV (24 days ago)
Players should be allowed to sign contracts if anything
1stround knockouts (24 days ago)
I think the players that graduate should get paid
Tuomas Grannas (24 days ago)
Exposure doesn't pay for groceries
Franco COMMON SENSE (24 days ago)
The NCAA makes Billions off these kids while they are not allowed to receive any money. Man i should try and slave kids sounds profitable
Mark Antar (24 days ago)
Am I trippin or did he say 68 teams start in the tournament. I thought 64...
tubewatcher0823 (24 days ago)
60 are automatically in the first round but 8 teams have to play a game to get into the first round where 64 teams start. The NCAA officially recognizes the 4 teams that lose in the first four as tournament participants so technically yes, it's 68 now.
uml uml (24 days ago)
zion was going to be a #1 pick with or without duke.
You mad Bro (24 days ago)
Free education!
BrokeredHeart (24 days ago)
I have an issue with them touting "national exposure" a bonus. If the NCAA didn't have a monopoly on players entering their professional athletic careers, the highly talented would still be gaining recognition in whatever arena they were playing in. But because they've asserted their supremacy as the source for "elite" talent in America, they can boast that their participants become stars before they ever sign a professional contract. I hope that this changes in years to come. Mandating that all players looking to enter the NBA or NFL must go through the same process, earning bogus scholarships for diplomas they'll never use, in the name of the unassailable "student athlete," is just propagating a system that benefits an elite few - namely the rich alumni classes of prestigious colleges, tv executives, and NCAA officials. They don't care about the students, unless they're winning titles. And even then, there's no guarantee that they'll go on to become successful professionals at the next level. It's criminal that these young men and women are giving up everything in their prime years for the promise of "national recognition," all while someone else profits off the name on the back of your jersey.
Zeus 08 (24 days ago)
So y aren't the athletes getting paid?
Jiqwan Dockery (24 days ago)
Sooooooo out of this how much are y'all gonna play the players.?
kyler murray (24 days ago)
Lol pre sure we would hear of Zion wherever he went , he just knows where the big stage is
Jamie Corbin (25 days ago)
You are aware that the odds are not 1 in 9 quintillion...that would be assuming there is a 50-50 chance each team wins. You really think there was a 50-50 chance duke would win against ND state? Are you stupid? Who makes this? Third graders?
Branden Hickerson (25 days ago)
Black kids play and white men get paid for it. Sounds very american.
Branden Hickerson (24 days ago)
+Red Sox 9904 yea cause i totally said white people are the cause of all my problems.
Branden Hickerson (24 days ago)
+Red Sox 9904 how much goes to the university vs. Into the pockets of ncaa staff and coaches?
Red Sox 9904 (24 days ago)
Branden Hickerson Don’t blame all your problems on white people. That’s not productive.
Red Sox 9904 (24 days ago)
Branden Hickerson Black kids have to wait a year to make 30 mil while their fellow students get to benefit because the money goes to funding the university.
Alec Houston (25 days ago)
The education you get as your compensation is completely worthless, there is no way to be a competent student athlete and get a degree worth the value of the ink on the page.
Carl Myrick (25 days ago)
Old white men Pimpin young black dudes. The History of the United States. The old white man has a history of wanting in Free Labor. The cycle continues. As long as the old white Caucasian man is in power he will always have his boot on minority's.
Red Sox 9904 (24 days ago)
Carl Myrick Black kids have to wait a year to make 30 mil while their fellow students get to benefit because the money goes to funding the university.
Synder (25 days ago)
It should be 100 team like if u agree??
Odeh Farhaoud (25 days ago)
Yes
717dreamchaser (25 days ago)
College should be free in America
Red Sox 9904 (24 days ago)
717dreamchaser Then your just assuming everyone is gonna be ok paying 10% higher taxes. That won’t happen.
Ex Rodriguez (25 days ago)
America's addiction to gambling.
Aka Showtime (25 days ago)
The players don’t get a crumb of that money. “Oh but they getting a free education” yeah when they’re playing basketball which is why they have the scholarship in the first place. U don’t play, u gotta pay.
Red Sox 9904 (24 days ago)
Aka Showtime Ya it’s so sad what they go through. They have to spend a whole year being famous before they make 40 mil.
mco (25 days ago)
And.the players do not get paid
Red Sox 9904 (24 days ago)
mco Because the money goes to funding the college so regular students can get educated.
treshawn wilson (25 days ago)
Start a debate on this comment. Should athletes get paid why or why not? Explain your answer.
Karen (24 days ago)
NO. Basketball and Football make money for schools and that money pays for all women's teams and all other sports played by teams that don't attract a national audience or are small like wrestling and fencing.
TrapStar (25 days ago)
Pay college athletes
Red Sox 9904 (24 days ago)
TrapStar That means sacrificing the schools programs and it’s all around effectiveness.
Erik C (25 days ago)
They're adults and should get paid.
Zach Coble (25 days ago)
Zion would be talked anywhere
Brian Abisdid (25 days ago)
NCAA athletes are like people who leave college and get hired for an unpaid internship to get experience in their field, both are predatory and should be abolished.
Red Sox 9904 (24 days ago)
Brian Abisdid I’m gonna be honest I’m not totally against letting people go straight form high school to the nba. Kobe did it, but guys like Andrew Bynum also did it. It’s a big risk, but for those big players I could see it coming back and working.
Brian Abisdid (24 days ago)
+Red Sox 9904 The top guys are the only guys i care about as it relates to exploitation; guys like Zion etc should have the ability to go straigh to the NBA, none of these guys care about going to college for educational purposes.
Red Sox 9904 (24 days ago)
Brian Abisdid It’s not free labor, their students in a scholarship participating in an extracurricular activity.
Brian Abisdid (24 days ago)
+Red Sox 9904 Free labour is exploitation whether it's for an unpaid internship or the NCAA exploiting athletes.
Red Sox 9904 (24 days ago)
Brian Abisdid Ya it’s so sad what they go through. They have to wait an entire year just to make 20 millions.
The Gaming Marshmellow (25 days ago)
And the players still don’t get paid
K H (25 days ago)
The whole reason it’s fun to watch is because it isn’t spoiled millionaires lmao people are gonna be turned off when the kids start getting paid overtly and not under the table
BolD SamA (25 days ago)
Slaves...
BolD SamA (24 days ago)
Red Sox 9904 yeah EVERY ncaa player will make it to the league
Red Sox 9904 (24 days ago)
BolD SamA Slavery isn’t being famous for a year and then making 20 million the next year.
mezzo forte (25 days ago)
Maybe this explains reffing late in the duke game
xTnTProx BTD battles and more (25 days ago)
Trump only makes 1$ a year because the state has to pay him a salary but he doesn't want to accept a big sum... idk where you get the number of 400k from....
guitardude0909 (25 days ago)
wait did i just see the Pink Power Ranger?
Eric Cartman (25 days ago)
"Student atholetes?"
Daddy Green's New Deal (25 days ago)
Great video, but players don't necessarily need college for exposure.
KIIING MELINAIRE (25 days ago)
I stopped watching college sports because it's slavery...
Rork Poast (25 days ago)
The students can quit the basketball team at any point. However, slaves can’t quit being slaves. Nice try though.
Mandy Mace (25 days ago)
They get a scholarship.
elsamso (25 days ago)
There’s 64 teams?
MetdzSneakers (25 days ago)
I cant imagine that NCAA much earning money than NBA .. Russ said : whhhhhhaaaaaatttttt?????
Quincy Sanchez (25 days ago)
Not every college athlete gets a full ride we need to stop saying that
Dave Andrews (25 days ago)
But that is true, basketball and football only gets full rides....if all that money from tournament plays players, goodbye to track, baseball softball, spinning etc
Jesus 97 (25 days ago)
I’m pretty sure we’d still hear from Zion no matter where he’d go.
Holden Covington (25 days ago)
The idea that Zion Williamson is ~less~ famous because he wasn’t allowed to go straight to the tournament...y’all are crazy
hyou zan ren (25 days ago)
I would love to taste some of those money! Yum yum
bigbabyzubas (25 days ago)
Look at ALLL THIS MONEY the players can't get. Their schools can though! But screw the players. They don't get anything but a chance at a scholarship. Lol
Modify (25 days ago)
0:59 That Jumpshot though
Testos Tyrone (25 days ago)
If a coach can make EIGHT MILLION DOLLAS annually, then at least 1/4 of that salary can be stipend to the players on that team... Yes, Zion Williams has gained exposure through the NCAA MARKETING THE HELL OUT OF HIM FOR TICKET & APPAREL SALES, VIEWERSHIP AND RATINGS 🤪😫🤬!!!
Wolf Tapia (25 days ago)
It's illegal
Kenny J. McBride (25 days ago)
Look up the salaries for employees at the NCAA headquarters. These people are getting perks, travel deals, hotel accommodations, free rentals, and paid meals. This is not even touching their personal salary. Paying out scholarships for an entire season don't even equal the amount of the assistant coach yearly salary. Unfortunately not enough people are willing to break this flawed system down to pay the athletes, I mean student-athletes. 😒
eyy (25 days ago)
What are u gonna do about the gambling money? Charge people for making a bracket and not give out rewards...?
John A (25 days ago)
the most shocking part of this is the "180 countries" that watch March Madness
2 nifty (24 days ago)
At least 1 person in every country some may even be Americans located in another country watching
OG Gummy Worm (25 days ago)
Played in March Madness back in ‘14.. never received a dime 🙄
Natedakid 15 (24 days ago)
Oh really ?
Thomas Austin (25 days ago)
Brent Musberger used the phrase March Madness from Illinois High School Basketball State Tournament. IHSA has called its Tournament March Madness for years before 1982.
Rena Hudson (25 days ago)
Fixed
Rena Hudson (25 days ago)
Thewhitemanmakesmostofthemoney
Rork Poast (25 days ago)
Rena Hudson Whatever you say Mr. Inferiority Complex.
YouTube google (25 days ago)
Thank you CNBC. THAT'S WHY THE PRESS IS IMPORTANT..... FREE THE PRESS
B Beasty (25 days ago)
Go heels!
Rork Poast (25 days ago)
“But...bruh... this is just like slavery.” No it’s isn’t. You actually have a choice not to play basketball (or any other sport) in college. You don’t have a choice on whether or not you become a slave.
Borak Cx (25 days ago)
This is just like indentured servitude
Iyoutubetotube (25 days ago)
Bhutan is probably the country that is least expected to watch march madness considering how isolated the country is. But me and my buddies watch every march madness. This year my betting opponent is Lyonpo Lekey Dorji, former Economic Minister of Bhutan. He rooted for Kansas Jayhawks while I am still rooting for Gonzaga. If march madness is popular in country like Bhutan, no wonder its being watched in 180 different countries.
Hammeraffe Jo (25 days ago)
Wait ncaa make more money then NBA wtf?
Isaiah From the Nati (25 days ago)
In playoff ad spending. Not during the entire season.
Stephan Downing (25 days ago)
Didn't include merc!
Richz Zhou (25 days ago)
When amatuer basketball rakes in more than the wnba
Rork Poast (25 days ago)
Richz Zhou Wheelchair basketball would rack in more viewers than the WNBA.
ShrekLiveActionMovie420 (25 days ago)
March Madness is overrated
Cam Colber (25 days ago)
Pimpin ain’t easy
Mike Woods (25 days ago)
How much of that money goes to the kids?
Edward Biglang-awa (25 days ago)
Athletes must be paid and if there wasn’t a NBA rule that they have to go to college they would not go
Electro Duck (25 days ago)
It's a weird system... In most countries academics and atheletics are separated. What does basketball have to do with academics? In europe athletes go to Sport clubs junior teams to practice and play and possibly go pro around high school/college age
Mandy Mace (25 days ago)
Most sports are attached to academics in the US. But most of the best athletes playing, also play on club teams.
Jordan LongNight (25 days ago)
CBS, explain why a college basketball player cannot make any money off of their own name while playing for a college?
Jordan LongNight (24 days ago)
+Rork Poast What does free education have to do with someone not being allowed to make extra money on the side, like every other student on scholarship at a university?
Rork Poast (25 days ago)
Jordan LongNight Free education
AP Terminator (25 days ago)
I agree with guys taking money from boosters and under the table or whoever cause the NCAA care nothing about these athletes and half that money need to go to the players of whatever sport that brought the revenue in.
Steve Watson (25 days ago)
The things that hurt me the most back in the day is a lot of these black players could never go to these colleges support your black colleges
Rork Poast (25 days ago)
Steve Watson It’s only the black players. These young *p r i v i l i g e d* black basketball players can’t catch a break. Smh
JJ C (25 days ago)
Meanwhile the players family is struggling keeping up with the bills every month 😴
Sean Patrick (25 days ago)
Biggest scam out there
FBI (25 days ago)
Things like this are being funded yet I get ads from wealthy famous people telling me to donate and help with poverty when I’m barely above the line. What a joke.
T MO (25 days ago)
They just glossed over the fact that players are not being paid. This video is weak!
Kmemu Ka (25 days ago)
Every white head coach in NCAA D1 basketball and football is racist. They have the nerve to accept huge pay checks while their players don't get paid and they don't come together and fight for the players to get paid, their all racist!
Shylock Shy (24 days ago)
NCAA basketball should have promotion and relegation. The fact that more than 60 teams will participate in a tournament is kinda scary. Domestic cups in football like The FA Cup are somehow like that but it has a larger time frame than March Madness.
james pa92 (25 days ago)
The way they're exploiting the kids is unacceptable! A great alternative if you are really talented like zion is playing in euro league and showcase your talents. Like luca doncic did
2 nifty (24 days ago)
Zion playing in college will give him far more money than Luka playing Euro. Most people didn’t know who Luka was because they couldn’t watch him College basketball especially Duke is always on TV. Zion will be a shoe deal as soon he leaves college from Nike,Adidas,Puma etc for probably one of the most lucrative deals. I don’t even know who Luka is signed with. Not only shoe deals but endorsements period and that’s where most of the good players get there money
Danilo Jovovic (25 days ago)
Those who deserve it, get paid under the table. NCAA profits because they don't have to pay every single student-athlete and star players profit because they get their cut. Now if you want to do things the right way, fine, keep it as is, but then every player should be given the option to skip college and go straight from high school to the pros. Simple as that.