Mad(ness) Money

March Madness kicks off this Sunday, when the NCAA announces its final seeding for the men's Division 1 college basketball tournament. Many Americans will be following the tournament closely—and a small percentage will be gambling on it. According to a recent Gallup poll, 4 percent of Americans admit to betting on a college sports event. Fourteen percent say they have participated in an office pool, a decline from the 22 percent who said they had done so in 1992. In general, men are more likely than women to bet, as are younger people, higher-income households, and college graduates compared to those with less formal education. Source: The Gallup Organization, December 2007.