Monday, March 17, 2014
March Madness pools are pretty much illegal, according to Businessweek.
The Professional and Amateur Sports Protection Act of 1992, also known as the Bradley Act, makes it unlawful to bet, gamble, or wager "on one or more competitive games in which amateur or professional athletes participate, or are intended to participate, or on one or more performances of such athletes in such games."
According to Businessweek, only four states are exempted from the Bradley Act: Nevada, Delaware, Oregon, and Montana.
If your office pool involves the Internet, then you may also have to worry about the Unlawful Internet Gaming Enforcement Act of 2006. It's a federal law that prohibits accepting payments related to gambling. The act contains an exception for fantasy sports, "which may or may not include March Madness, depending on who you ask,"Businessweek reports.