It's Prime Time for Office Pools

With the Super Bowl, Oscars, and upcoming March Madness, workplaces across the country are inundated with office betting pools. According to a new Vault.com survey, 58% of employees say they partake in such pools and 77% indicated that their co-workers participate.

Pools for the Super Bowl are most popular; 51% of respondents say they or their cubicle mates have joined a pool for the big game. Following closely behind is the NCAA men's basketball tournament with 48%. Other pool-worthy events: NFL regular season games (32%), co-worker pregnancies (13%), the Oscars (12%) and reality shows like American Idol and Survivor(11%).

One respondent said, "[Pools] add a level of excitement on game day, and they enhance socializing in the workplace."

Vault's Office Betting Pools Survey was conducted in February 2008 and consists of responses from 683 employees representing various industries across the United States.

Pools generally don't interrupt the workday too much (68% of respondents say they spend only five to ten minutes at work making their picks), and 65% say the cost to enter is relatively low, only $5 or $10. The winnings vary, but 66% say they usually amount to $200 or under. Almost one quarter of survey-takers (24%) say they've won an office pool.

Most employees (91%) say their offices either do not have a policy against betting pools or they are unaware of one. According to the survey, 72% of employees say the primary motivation for office pools is to have a little harmless fun at work.

For more on office betting pools, read the survey results. Check out Vault's Job Talk video on the subject.