The NCAA Men’s Division I Basketball Championship is a single-elimination tournament played each spring in the United States, currently featuring 68 college basketball teams, to determine the national championship of the major college basketball teams. The tournament, organized by the National Collegiate Athletic Association (NCAA), was created during 1939 by the National Association of Basketball Coaches , and was the idea of Ohio State University coach Harold Olsen .
Played mostly during March, it is known informally as March Madness or the Big Dance , and has become one of the most famous annual sporting events in the United States.
he tournament teams include champions from 32 Division I conferences (which receive automatic bids ), and 36 teams which are awarded at-large berths . These “at-large” teams are chosen by an NCAA selection committee, as detailed below . The 64 teams are divided into four regions and organized into a single elimination “bracket”, which predetermines, when a team wins a game, which team it will face next. Each team is “seeded”, or ranked, within its region. After an initial four games between eight lower-ranked teams, the tournament occurs during the course of three weekends, at pre-selected neutral sites around the United States. Lower-ranked teams are placed in the bracket against higher ranked teams. Each weekend eliminates three quarters of the teams, from a round of 64, to a “Sweet Sixteen”, and for the last weekend of the Tournament a Final Four; the Final Four is usually played during the first weekend of April. These four teams, one from each region, then compete in one location for the national championship.
How the tournament is structured:
The tournament has several rounds. They are currently named
· The First Four
· The Second Round (also known as “the Round of 64”)
· The Third Round (also known as “the Round of 32”)
· The Regional Semi-finals (participating teams are known popularly as the “Sweet Sixteen”)
· The Regional Finals (participating teams are known commonly as the “Elite Eight”)
· The National Semi-finals (participating teams are referred to officially as the “Final Four”)
· The National Championship
The tournament is single-elimination , increasing the chance of a ” Cinderella team” advancing; although these lower-ranked teams are forced to play stronger teams, they need only win once to advance (instead of winning a majority of games in a series, as in professional basketball).
For decades, fans have been entering into office pools or private gambling-related contests as to who can predict the tournament most correctly. The filling out of a tournament bracket has been referred to as a “national pastime.” Filling out a tournament bracket with predictions is called the practice of ” bracketology ” and sports programming during the tournament is rife with commentators comparing the accuracy of their predictions.
Odds of a Perfect Bracket:
There are 2^63 or 9.2 quintillion possibilities for the possible winners in a 64-team NCAA bracket, making the odds of randomly picking a perfect bracket. With the expansion of the tournament field to 68 teams in 2011, there are now 2^67 or 147,573,952,589,676,412,928 (147.57 quintillion) possibilities.
Win a Billion Dollars from Warren Buffett for the perfect Bracket:
On January 21, 2014, Quicken Loans and Berkshire Hathaway (backed by billionaire Warren Buffett ) announced that they would award $1 billion to the person(s) who correctly predicts the outcome of every game in the 2014 tournament.
The prize will be paid out in 40 annual installments of $25 million. If there’s more than one winner, they’ll have to share. The winner or winners can also take or split up an immediate $500 million lump-sum payment
In addition to the grand prize, Quicken will award $100,000 each to the contest’s 20 most accurate “imperfect” brackets submitted by qualified entrants in the contest to use toward buying, refinancing, or remodeling a home. Quicken will also donate $1 million to inner-city Detroit and Cleveland nonprofits. Quicken is based in Detroit, but Gilbert owns the Cleveland Cavaliers and the city’s Horseshoe Casino.
The odds are not ideal-a 1 in 9.2 quintillion chance . But it costs nothing to fill out, so you should probably do it. The contest starts March 3, and March Madness kicks off March 18.
LINK HERE FOR MORE INFORMATION : https://www.facebook.com/QuickenLoans
I hope to see you there and best of luck to everyone!