2013 Vault Office Betting Survey


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See the results of Vault.com's office betting survey.

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2013 Vault Office Betting Survey

  1. 1. You In? Have you ever participated in a betting pool at your workplace? No―Super Bowl, football, march 30%madness, fantasy leagues” ―I think they are unethical and in Yes bad taste in any workplace setting. 70% They set a poor example and interfere with work productivity.”―When the Lottery reaches alarge amount we all have abetting pool then split thewinning amount”―I think its a recreation activity that allows co-workers to engage in something together outside of themain focus on workplace responsibilities – could possibly enhance rapport and workplace morale.”
  2. 2. Have you ever won? Have you ever won an office pool? Yes, 33% No, 67% ―NCAA Final Four—$53,500. I got 535:1 odds on an non-seeded team.”
  3. 3. What’s Your Poison?March Madness and the Super Bowl top the list of most-bet-upon events. Which types of office betting pools do you and/or your co-workers engage in? Reality shows/competitions 4%NCAA basketball (regular season) 7% Awards shows 8% College football 12% Co-workers pregnancy 17% Other 19% Fantasy leagues 35% NFL regular season 37% Super Bowl 60% March Madness 69% 0% 10% 20% 30% 40% 50% 60% 70% 80%
  4. 4. Waste of Time? When participating in a pool, how much of your workday do you spend discussing/researching/making your picks?60% 52%50%40%30% 25%20% 15%10% 4% 2% 1% 2%0% Less than 30 30 minutes - 1 1-2 hours 2-4 hours 4-6 hours More than 6 N/A - I dont minutes hour hours participate in office pools ―I think theyre a positive thing for office morale but that people often spend a lot of time that should be work time focused on them which hurts productivity. So, its probably a net-zero effect.”
  5. 5. So, Is It Okay?More than three-quarters ofthose surveyed said bettingpools are appropriate at Do you think it is appropriate to have office bettingwork. pools? ―There is so little communal contact in No our society after college graduation. 21% Let people be a part of a group.” Yes 79% “I think that it is important that the focus of the bets are never driven by the money itself, because its objective is to give a chance to build good relationships.”
  6. 6. Office Policy: Yay or Nay?Only 11% of those surveyed Does your company/firm have a policy regardingsaid their offices have policies betting pools?prohibiting workplace betting Yes, 11%pools.Nearly half (49%) weren’t sureif it’s allowed, and 39%reported no policies on betting Not sure, 49%at all. No, 39% ―No policy, as long as they dont get out of hand and have a positive effect on morale.” “Any gambling is not condoned by employer, but nothing is done “Highly frowned upon by to discourage it. They pretend they dont see it and some high ups HR, ignored by everyone participate.” else”
  7. 7. Cost of Admission How much money does it usually cost to enter your offices betting pools?More than $250 3% $101-$250 2% $51-$100 4% $26-$50 7% $11-$25 19% $10 or less 38% Less than $5 17% Other 10% 0% 5% 10% 15% 20% 25% 30% 35% 40% Nothing to lose? Most survey takers reported a $25-or-less cost for participation in their office’s pools.
  8. 8. So, What’d You Win? How much money does the winner usually receive? $1,000 or more 7% $751-$999 2% $501-$750 7% $301-$500 9% $201-$300 15% $101-$200 15% $51-$100 22% $50 or less 11% Other 13% 0% 5% 10% 15% 20% 25%
  9. 9. Why Risk It? Most employees ante up for fun, not money. What do you think are the primary drivers for employees to participate in office betting pools?90% 81%80%70%60% 48% 47%50%40% 32%30%20%10% 6%0% To have a little To win money To establish or To prove that they Other harmless fun at work improve relationships have the with co-workers skills/expertise to pick a winner
  10. 10. So Is It a Good Thing?Most workers feel thatoffice betting has a Overall, how do you view the impact of office bettingpositive influence on pools on the environment at your office?*their workplace. Negative, 8% Neither positive nor negative, 29%―Its fun and fosters somefriendly competition. The Positive, 55%monetary stakes aregenerally pretty low so itsfun.”