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APRIL 2025
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The Big Bets of March Madness How Gambling Fueled This Year’s Tournament
Live betting allows fans to place wagers
on updated odds mid-game, from halftime spreads to individual player performances.
By the time this newsletter reaches you, this year’s March Madness will be winding down to its early April conclusion. As the dust settles, I’d like to share interesting details — and a personal perspective — on how the tournament has impacted the betting world. March Madness isn’t just about Cinderella stories and buzzer-beaters — it’s also one of the biggest sports betting events of the year. Every spring, millions of fans and bettors wager billions on the NCAA Men’s Basketball Tournament, turning an already thrilling spectacle into a high- stakes financial frenzy. According to the American Gaming Association (AGA), U.S. bettors place over $15 billion in wagers annually on March Madness. This massive total includes everything from office bracket pools to legal sportsbook bets. With the expansion of legalized sports betting across the country, these numbers are expected to grow. Here’s a breakdown of where things currently stand.
Legal Sportsbooks: As more states legalize sports betting, a record number of people are placing single-game bets, parlays, and prop bets through regulated sportsbooks. In 2023, sportsbooks reported over $2.6 billion in legal bets on March Madness alone. Underground and Offshore Betting: Despite the rise of legal sports betting, billions are still wagered through unregulated bookmakers and offshore sites, making the total financial impact of March Madness betting even larger.
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The economic impact of March Madness betting goes beyond
sportsbooks. The tournament drives increased engagement for sports bars, casinos, and streaming services as more people watch and follow the games closely. Additionally, the rise of sports betting partnerships with media companies has increased advertising and sponsorship revenue. March Madness has always been an exciting time for college basketball fans, but the boom in sports betting
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For sportsbooks, March Madness is one of the most profitable events of the year. The unpredictable nature of the tournament — where upsets are common and public favorites often lose — tilts the odds in favor of the house. In 2023, Nevada sportsbooks alone made nearly $50 million in profit during the tournament. While big wins are possible for bettors, most gamblers lose. The odds and betting lines are carefully crafted to maximize sportsbook revenue while keeping action balanced on both sides. A major shift in recent years has been the rise of live betting and mobile wagering. With states like New York, Illinois, and our home state of North Carolina offering online sportsbooks, more people than ever are betting in real-time while watching the games.
has taken its financial impact to another level. With more states
legalizing sports wagering and mobile betting continuing to expand, expect March Madness betting to keep breaking records for years. I’m not a big sports gambler, and I strictly limit any sports betting I do to a predetermined entertainment budget. Still, I can certainly appreciate March Madness’s appeal. That said, I wouldn’t be a very good financial advisor if I didn’t caution readers not to leave their retirement planning to chance. For those who participate in March Madness betting, the key is to bet responsibly . Enjoy the thrill, but don’t let the madness take over your wallet. –Wes White
Bracket Pools: An estimated 36 million Americans fill out brackets, many participating in pools with friends, coworkers, or online platforms. While some are just for fun, others involve serious prize money, with entry fees ranging from a few dollars to thousands.
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These articles are designed to provide general information on the subjects covered. They are not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Patriot Wealth and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney.
Investment Advisory Services is offered through Retirement Wealth Advisors (RWA), a Registered Investment Advisor. Patriot Wealth and RWA are not affiliated. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision.
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Leaf a Legacy and Plant a Tree! CREATE LASTING FAMILY MEMORIES THIS ARBOR DAY
START THE ADVENTURE. Choose the perfect tree and location. Let your children take the lead in selecting a spot with the right amount of sunlight and plenty of room for growth. Once you’ve gathered your tools — a spade, mulch, soil, water bucket, and, of course, your tree — the real fun begins. Together, dig a hole just the right size for the root ball. While the adults may handle the more technical steps, like trimming roots that twist or grow in circles, kids can pitch in by scooping dirt and getting up close to nature. As you settle the tree into its new home, explain how the roots will anchor it and how its leaves will turn sunlight into energy. After planting, the work doesn’t stop! Teach your children how to water the tree properly — soaking the root ball
Arbor Day, celebrated this year on April 25, is a chance to dig deep and nurture the environment while creating lasting memories with your kids. Rooted in the love of trees, Arbor Day is a perfect opportunity to teach your little ones the importance of caring for our planet while having fun outside. With wildfires destroying millions of acres of trees annually, the need for replanting has never been greater. Planting a tree is a hands-on way to make a difference; kids love
without overwatering. Build a mulch ring together and explain its purpose in keeping the roots cool and moist. Then, it’s time to watch it grow! CHART THE JOURNEY AHEAD. Planting a tree is just the beginning of a long-term adventure. Encourage your kids to measure the tree’s growth, sketch its leaves, and write about its progress in a journal. Snap photos together to document its transformation, and talk about trees’ vital role in providing oxygen, shade, and habitat for all of us. This Arbor Day, take a moment to plant more than a tree — plant a memory. Working together as a family teaches lessons in responsibility, environmental care, and the joy of nurturing life. Plus, the smiles and laughter along the way? Those are the real treasures.
getting their hands dirty. Plus, it’s more than just a lesson in environmental stewardship — it’s an activity that promotes exercise, teamwork, and pride in watching something grow.
Vital Vitamin Void THE BODY’S MOST COMMON MISSING NUTRIENT
Spring is in full swing here in North Carolina, but sunny weather doesn’t always lead to sunny dispositions. If you’ve been feeling down, irritable, and are having difficulty shaking off the remnants of winter, your body may be telling you it’s time to review your vitamin intake. Vitamin B12 is one of the most critical — and most overlooked — tools for maintaining physical health and mental clarity, especially among seniors. It significantly contributes to improved or sustained cell formation, bone health, and nerve function. Despite its benefits to overall health, it is not naturally produced in our bodies. However, it can be found in eggs, dairy, meat, fish, and standard multivitamins. If dietary or moral considerations prevent people from consuming animal products,
Harvard Medical recommends they eat B12-fortified bread and cereals and take daily supplements. Despite B12’s presence in popular foods, deficiencies are common. Studies suggest that folks with Crohn’s disease and/or who take medications for other stomach ailments — such as gastroesophageal reflux disease (GERD) — tend to have lower amounts of the nutrient. Common signs of insufficient B12 levels include mood swings, decreased concentration, memory loss, and tingling in the hands and legs. In severe cases, deficiencies can be treated with weekly shots a doctor can administer. Although adults are recommended to include 2.4 micrograms of B12 in their daily diets, the amounts needed to prevent deficiencies vary based on
age, pregnancy, breastfeeding, and other factors. If you suspect a B12 deficiency is affecting your everyday life or would like guidance on the proper amount to take, it is best to consult directly with your health care provider rather than seek answers through online sources that may have incorrect or outdated information. If your body receives it in the proper amount, vitamin B12 could elevate your health and spirit to match the bright skies outside.
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The next couple of months will bring increased travel, sunnier days … and surprising drains on your bank account. Here are two quick tips to help keep your finances strong when springtime prompts you to splurge. SMART SPENDING FOR POST-TAX SECURITY If your tax preparation worked in your favor, you are likely anticipating the arrival of additional funds in the coming weeks. Naturally, it’s tempting to consider your tax return as money to use for entertainment or indulgent purchases. Unfortunately, that newfound cash could lead you down an even deeper debt hole if used carelessly. If your current budget doesn’t allow you to pay off your credit card balances in full each month, using your refund to at least chip away at your preexisting debt may be a wiser move than booking a trip to Hawaii. Paying off your debts in full or more significant amounts will help you better maintain your financial health, reduce the amounts you pay in interest, and make more money available for future vacations and other fun activities. When it comes to sensible financial planning, patience will always yield higher dividends than impulse purchases. COST-EFFECTIVE CRUISES AND COMMUTES Speaking of that hoped-for Hawaiian trip, now is the time to seriously consider how your upcoming summer vacations may affect your bottom line for the rest of 2025. On average, a one-week domestic vacation for a single person costs roughly $2,000, while a couple can expect to spend at least twice that amount while away for the same period. Once children are added to the mix, travel budgets can quickly expand beyond expectations — and vacationers should expect these amounts to double when traveling internationally. If your short getaway will drastically slow your long-term financial gains, it’s best to wait a year and instead work to reduce your average monthly expenses. When traveling closer to home, fluctuating gas prices could quickly add unexpected costs to your daily travel. Before heading to the car, ask yourself whether your errands could be completed by walking to your destinations instead. Walking just 2 miles daily, five times a week, will save you 520 miles in gas expenses in a year. New Season, New Debts? TIPS TO AVOID SPRING FINANCIAL SNAGS
TAKE A BREAK
Classic Fish Fry Inspired by FoodNetwork.com
We’re in the middle of Lent, so there’s no better time to host your own fish fry for your loved ones!
INGREDIENTS
DIRECTIONS
1. Pour 2 inches of vegetable oil into a large skillet over medium-high heat. 2. Cut cod into 4 servings and season with salt and pepper. 3. Place flour into a pie tin. Whisk egg and water in a second pie tin. Combine bread crumbs, mustard powder, and cayenne in a third pie tin. 4. Coat your fish in the flour tin, then the egg tin, then the bread crumb tin. 5. Set coated fish in hot oil and fry for 5 minutes on each side. 6. Serve with lemon wedges and enjoy!
• Vegetable oil • 2 lbs fresh cod • Salt and pepper, to taste • 1/2 cup all-purpose unbleached flour • 2 large eggs • 2 tbsp water • 2 cups plain bread crumbs • 1/2 tsp mustard powder • 1/4 tsp cayenne pepper • Lemon wedges
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INSIDE THIS ISSUE Gaming Goes Grand PAGE 1 Planting Memories and Trees This Arbor Day PAGE 2 The Bright Benefits of B12 PAGE 2 Classic Fish Fry PAGE 3 A Quick Guide to Sunnier Spending PAGE 3
Escape to Paradise: Savoring the Beauty and History of Antigua PAGE 4
Can you imagine escaping to a tropical island where you can visit a different beach every day for a year without ever seeing the same one twice? It’s not a fantasy. It’s Antigua. Antigua has long been known for its 365 beaches, from Halfmoon Bay’s silvery sands to Galley Bay Beach’s surfing waves. Unique for its history and native crafts, this eastern Caribbean island is rich in recreational and cultural attractions, as well as natural beauty. Christopher Columbus encountered Antigua in 1493, and the British subsequently colonized the island and neighboring Barbuda in the 1600s. Barbuda was originally planned as a slave-breeding colony, but the enslaved people brought to the island rebelled against colonial rule. After years of domination JOURNEY THROUGH TIME DISCOVER THE ENDLESS BEACHES AND VIBRANT CULTURE OF ANTIGUA
by the United Kingdom, Antigua and Barbuda achieved independence as a single nation in 1981.
Although Antigua covers only 108 square miles, it has a rich history and cultural traditions. Nelson’s Dockyard National Park offers archaeological sites and more than 12 miles of hiking trails. The 8th of March Project commemorates the lives of enslaved and free Africans who labored on the docks for centuries. Energetic hikers can make their way up a steep trail to Shirley Heights, 492 feet above sea level, to enjoy a panoramic view across the sea. Among Antigua’s unique attractions is the centuries-old artisan craft of forming tamarind seeds into jewelry and home decor. The island is also home to one of the rarest fruits in the world, the Antigua black pineapple, which is sweet and delicious sliced fresh or in jelly form. Also, a weekly archaeological tour called “Rum in the Ruins” offers a history of the sugar trade and the island’s famous rum. Antigua’s Summer Carnival is one of the most popular in the world. The celebration began when people took to the streets in 1834 to celebrate the emancipation of enslaved people and independence from England. Visitors to the Carnival today can enjoy wildly colorful costumes and 10 days of music, dancing, and parades. Among the most memorable experiences are steel band competitions playing calypso and soca music.
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