The argument has been made that March Madness is the most exciting time of the year to watch sports.

"It's very competitive. It's about underdogs and seeing them go all the way. It's a beautiful story," says fan Zaquan Trappier.

He is one of the millions tuning into the big college basketball tournament that is unique in so many ways.

"March Madness is actually one of the sports events that has a longevity to it. If our team keeps winning, we keep entertaining and keep spending, so it adds up," said Marshal Cohen, Chief Retail Analyst at Circana.

The investment we make in the college craze starts with school swag. According to Cohen, T-shirts and hats can average between $25 to $30. Colleges and universities are often updating their mascots and logos, enticing fans to make repeat purchases.

"You don't always have to buy the logo, sometimes just wear the color and you can certainly feel just as much a part of the team," said Cohen.

If you are looking to support your team at the arena, ticket prices can vary greatly.

"Generally, the price for regional games is running between $35 on the high seats, right up in the top on the upper level, down to $150. That's the face value," said Cohen. "But what happens is, just like so many other hot events, tickets get scooped up very rapidly and if you wait too long, you could be paying up to $1,000 for some of those."

In addition, there is the bracket buy-in that adds to the fun and the frenzy.

"The bracket average, from what we've learned, runs about $35 to $50 so the number of people that win in the bracket is very tight. Last year, the brackets were broken so early," said Cohen.

The unpredictability is a huge part of the allure be your team a top seed, or this year's Cinderella story.