March Madness Perfection: The Incredibly Low Odds Of Correctly Nailing 63 NCAA Games
Portfolio Pulse from Chris Katje
The 2024 NCAA Men's Basketball Tournament highlights the incredibly low odds of achieving a perfect bracket, with Connecticut as the favorite. DraftKings, BetMGM, Bally's Corp, Berkshire Hathaway, and PepsiCo are engaging fans with contests and promotions, while Warner Bros. Discovery and Paramount Global hold broadcasting rights. The odds of a perfect bracket are 1 in 9.2 quintillion, but knowledge of basketball improves odds to 1 in 128 billion.
March 21, 2024 | 1:20 pm
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NEUTRAL IMPACT
Berkshire Hathaway CEO Warren Buffett engaged in March Madness by offering a $1-billion perfect bracket prize in partnership with Yahoo Sports and Quicken Loans in 2014.
While Berkshire Hathaway's involvement in a past March Madness promotion was significant, its direct impact on the stock is less clear, as it's a one-off event not directly tied to its core business operations.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
DraftKings is highlighted as setting Connecticut as the betting favorite for the 2024 NCAA Men's Basketball Tournament and partnering with PepsiCo for a unique challenge.
DraftKings' involvement in setting betting odds and partnering for promotional events directly ties to its visibility and engagement during the NCAA tournament, potentially boosting user activity and revenue.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
MGM Resorts International, through its BetMGM unit, offered a $10 million prize for a perfect bracket in 2023, engaging fans and promoting its betting services.
MGM Resorts' significant prize offering for a perfect bracket through BetMGM likely increased user engagement and attracted new customers to its betting platform.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Paramount Global shares broadcasting rights for the 2024 NCAA Men's Basketball Tournament with Warner Bros. Discovery, airing games on CBS and streaming on Paramount+.
Paramount Global's involvement in broadcasting NCAA games could lead to increased viewership and subscriber growth for Paramount+, enhancing its revenue streams.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
PepsiCo is engaging in the 2024 NCAA Men's Basketball Tournament with a 'No Right' challenge in partnership with DraftKings, offering $100,000 for the most games predicted incorrectly.
PepsiCo's innovative approach to engaging with NCAA fans through a unique challenge could enhance brand visibility and consumer engagement, positively impacting its marketing efforts.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Warner Bros. Discovery holds shared broadcasting rights for the 2024 NCAA Men's Basketball Tournament, airing games on TBS, TNT, truTV, and the Max platform.
Holding broadcasting rights for the NCAA tournament positions Warner Bros. Discovery to potentially increase viewership and advertising revenue during the event.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90