OFFICE BETTING ON THE RISE, SAYS NEW VAULT.COM OFFICE BETTING SURVEY

71.5% OF RESPONDENTS SAY THEY JOIN POOLS; MARCH MADNESS MOST POPULAR FOLLOWED BY SUPER BOWL

New York, NY, (March 14, 2011) As March Madness officially begins and employees fill out their NCAA Basketball Tournament brackets, Vault.com, the source for employer rankings, ratings and reconnaissance, has released the results of its 2011 Office Betting Survey. According to the survey, office betting is on the rise with 71.5% of respondents admitting to taking part in office betting pools with 82% stating that their co-workers have participated. The numbers are an increase over those reported in 2008, the last time Vault.com conducted its Office Betting Survey, when only 58% of workers said they had participated in office betting pools and 77% knew of co-workers who did the same. Also in 2008, the Super Bowl was the most popular event among employees with 51% of respondents stating that they or their cubicle mates have joined a pool for the big game, followed by March Madness at 48%. Fast forward three years and hype surrounding the NCAA Basketball Tournament has superseded that of the Super Bowl in the office with 65% of respondents stating that their penchant for brackets has filtered into the office while 58% of employees participated in the popular practice of Super Bowl boxes. Whatever the reason for participating, career experts caution that while employees can have fun with office betting pools, they should not let the fun compromise their productivity. And with 47% of individuals unsure about their company?s policy toward this common practice, their advice may need to be heeded. ?Office betting can be a harmless practice that gets colleagues to pull their heads out of the daily vortex, and join together for a few minutes of fun,? said Vicki Lynn, a career expert at Vault.com. ?And many welcome the newbies to the office pool, if only to grow the pot on the birth date of a colleague?s baby, who will win the Oscars or American Idol, and which team will emerge victorious in the NCAA tournament. But spending too much time going over picks, researching teams, watching games or discussing the betting pool will raise a red flag with managers and could become problematic. It?s best to keep the fun to an acceptable minimum.?

That said, most respondents believe office betting pools are harmless with one employee stating, ?For me and others I know, pools such as these serve as a worthwhile diversion from the daily grind and the stress that comes with it,? and another adding, ?I feel it helps boost morale and help open communication.? A small, but vocal minority feel otherwise, stating ?Almost no work gets done in the office during March,? and another adding, ?I really don?t think it (gambling) belongs in the workplace. Vault?s Office Betting Survey was conducted in March 2011 and consists of responses from almost 650 employees representing various industries across the United States. Respondents discussed their views for or against office betting ? the events they have bet on, the amount of time office betting takes away from the work day, how much it costs to participate, and how much they have won.

For the complete results, click here.

About Vault

Vault.com is the source of employer and university rankings, ratings and reconnaissance for highly credentialed, in-demand candidates. Vault.com is organized by profession, industry, company and schools. Vault profiles, rankings and assessment tools deliver the insider perspective and career research candidates need to successfully match themselves to the best available job, employer and career opportunity. The Vault.com website features profiles on more than 4,500 employers, 4,000 universities and hundreds of industries and professions including the law, finance, accounting and consulting sectors. Founded in 1996, Vault.com is the only career resource of its kind and attracts more than 1000 employer and recruiter advertisers, more than 1200 school and institutional subscribers and millions of individual visitors and members.

CONTACT:
Jon Minners
jminners@vault.com
646-792-6205