(NewsNation) — The madness behind March Madness is usually about the fans. But for the NCAA it is also the money. And big money is an understatement.

The National Collegiate Athletic Association (NCAA) generated record revenues of $1.16 billion for the 2021 fiscal year.

2022 revenues are expected to be even higher.

The bulk of that money comes from its TV broadcasting deal with CBS and Turner Sports. They have paid $19.6 billion collectively to air the NCAA Tournament from 2011 until 2032.

That’s just under a billion dollars every year just for putting the games on TV.

And while discussing TV, you can’t forego the ads. More than $1.3 billion is spent on ads that air during the tournament action.

This tops all postseason ad spending for the NBA, Major League Baseball and college football combined. Only the NFL postseason makes more money on ad placement than the NCAA.

If you are one of the lucky fans to be able to attend a game, the average ticket costs $376. That accumulates to ticket sales north of $132 million every time the big dance comes around.

But you know who isn’t making any money? The players aren’t.

While new laws allow college athletes to make money on their names, image and likeness, the players in this year’s tournament will receive no money at all for their participation.

Some are actually losing money, like the company you work for.

The NCAA Tournament may be a fun distraction for workers, but bosses may want to look away, because March Madness is likely costing them money.

According to the WalletHub study, the average worker spends six hours watching the tournament each year.

A new study suggests American businesses lose $13.8 billion each year because employees are less productive during March Madness.