How is March Madness changing in the era of NIL and sports betting?

College sports have experienced a revolution in the last few years, the resultss of which are currently on display during March Madness. “Name, image and likeness” (NIL) payments are letting players get paid, the transfer portal is letting them change schools more easily and the rise of sports betting has brought new pressures.

The NCAA tournaments are not “just about basketball anymore,” said Forbes. Instead, March Madness is the “biggest branding stage” in college sports. Amateur players used to have to wait for graduation or to turn pro before (legally) making money from their on-court exploits. Now tournament time is the “prime earning window” for college hoopsters. Viral moments create “instant brand appeal,” while big sponsors are shifting ad dollars away from NBA players to undergrads. Not every March star will make it to the pros, so the college years are the best moment for them to “cash in on endorsement deals.”