The idea was designed to mitigate the fact that, in most bracket formats, if your title team gets upset early, you're pretty much out of the running.
1. Each person gets a budget of $100 each week of the tournament (before the second/third rounds, before the Sweet 16/Elite 8, and before the Final 4/Championship).
2. Each person will select as many teams as they desire as long as said teams can fit in their budget.
3. Teams will earn points as follows:
Second round win = 1 point
Third round win = 3 points
Sweet 16 win = 2 points
Elite 8 win= 6 points
Final 4 win = 3 points
Championship win = 9 points
If you're wondering why the scoring works this way, it's because A) It's harder to pick the second game of the weekend than it is the first, B) It's harder to pick games later in the tournament, C) You need more points when there are less games to more properly even the scoring out (even though it's not necessarily completely even, it's a bit more distributed this way).
4. The most points at the end of the tournament wins. The winner will take 60% of the pot, second will take 30%, and third will take 10%.
5. The entry fee will be $30.
If you're wondering how the price per team will be created, I'll simply use a proprietary spreadsheet uses a proprietary rating that gives each possible outcome in the tournament a percentage (for instance, Colorado has a .41% chance to win it all, VCU has a 4.9% chance to make the Final Four, etc.).
As an example, Michigan State is 62.63% likely to win two games and their opponent, Valparaiso, is 4.01% likely to win two games.
Let me know if you have any questions. Again, feel free to share this with others!
The idea was THE BEST MARCH MADNESS POOL EVER.
And it's back for another run here in 2013.
Here's a quick overview of the rules:
1. Each person gets a budget of $100 each week of the tournament (before the second/third rounds, before the Sweet 16/Elite 8, and before the Final 4/Championship).
2. Each person will select as many teams as they desire as long as said teams can fit in their budget.
3. Teams will earn points as follows:
Second round win = 1 point
Third round win = 3 points
Sweet 16 win = 2 points
Elite 8 win= 6 points
Final 4 win = 3 points
Championship win = 9 points
If you're wondering why the scoring works this way, it's because A) It's harder to pick the second game of the weekend than it is the first, B) It's harder to pick games later in the tournament, C) You need more points when there are less games to more properly even the scoring out (even though it's not necessarily completely even, it's a bit more distributed this way).
4. The most points at the end of the tournament wins. The winner will take 60% of the pot, second will take 30%, and third will take 10%.
5. The entry fee will be $30.
If you're wondering how the price per team will be created, I'll simply use a proprietary spreadsheet uses a proprietary rating that gives each possible outcome in the tournament a percentage (for instance, Colorado has a .41% chance to win it all, VCU has a 4.9% chance to make the Final Four, etc.).
As an example, Michigan State is 62.63% likely to win two games and their opponent, Valparaiso, is 4.01% likely to win two games.
The idea is to use these percentages to price each team by simply rather crudely cutting them in half. To use the above teams as an example, Michigan State will "cost" you $31 (rounding) and Valpo will "cost" you $2. If a team were somehow 100% likely to win both games, their cost would be $50.
So, without further ado, here is the price list for week 1:
Again, you can construct a squad of however many teams you would like AS LONG AS YOU STAY AT OR UNDER $100. You could literally have 28 teams in your stable! Unfortunately, almost none of these teams would be likely to win even one game, let alone two, so that's what you need to grapple with. Do you want to take a few near sure-things (like Indiana and Louisville) and a few longer shots, or do you take a ton of longshots? Or try for some happy medium?
Whatever you do, remember that even if your teams flame out this week, you'll be supplied with new team prices next week and should still have a chance to win regardless of what happened (last year, everyone was still in contention after the first weekend and only one of 11 people was eliminated entirely heading into the Final Four).
You can have as many entries as you want. Feel free to share with friends, but if we get above 20 entries somehow, I'm keeping 5% for myself for doing the legwork.
If you want to be in, send me an email at bobwothe@gmail.com titled 2013 NCAA POOL WEEK 1 TEAMS with your teams and $30 via PayPal gift (bobwothe@gmail.com) or check (2190 Willow Hill Dr., Neenah, WI 54956) by Thursday, 3/21, at 10 a.m. CST. If you haven't gotten me the money or made other arrangements by then, your entry will not count, PERIOD.
Last thing: In order to remove any issues with me knowing other people's picks before giving my own, I will send my picks to a new email account each week before 11:59 p.m. CST Monday of that week. You will then need to get your picks to me by 11:59 p.m. CST Tuesday of that week. Then, Wednesday night/Thursday morning of each week, I will send out an email with a spreadsheet containing everyone's picks AS WELL AS the login credentials to the email account that I create. This will provide a timestamped version of my picks so that you can rest assured that I am not cheating.
As for this first week, I have already sent my two entries on to this new email address, so you may send in your entries whenever you wish.
So, without further ado, here is the price list for week 1:
| INDIANA | 38 |
| LOUISVILLE | 33 |
| MICHIGAN | 32 |
| FLORIDA | 32 |
| OHIO ST. | 32 |
| SYRACUSE | 32 |
| DUKE | 31 |
| MICHIGAN ST. | 31 |
| KANSAS | 30 |
| GONZAGA | 29 |
| MARQUETTE | 26 |
| MIAMI FL | 26 |
| GEORGETOWN | 25 |
| WISCONSIN | 25 |
| NEW MEXICO | 23 |
| OKLAHOMA ST. | 20 |
| ARIZONA | 20 |
| SAN DIEGO ST. | 18 |
| ST. LOUIS | 18 |
| PITTSBURGH | 16 |
| BUTLER | 15 |
| VIRGINIA COMMONWEALTH | 14 |
| NORTH CAROLINA | 14 |
| MINNESOTA | 13 |
| ILLINOIS | 13 |
| NEVADA LAS VEGAS | 12 |
| ST. MARY'S | 12 |
| BOISE ST. | 11 |
| NOTRE DAME | 10 |
| COLORADO ST. | 10 |
| CREIGHTON | 10 |
| KANSAS ST. | 10 |
| COLORADO | 10 |
| NORTH CAROLINA ST. | 9 |
| OREGON | 9 |
| CINCINNATI | 8 |
| IOWA ST. | 7 |
| OKLAHOMA | 7 |
| VILLANOVA | 7 |
| MISSOURI | 7 |
| CALIFORNIA | 6 |
| BELMONT | 6 |
| BUCKNELL | 6 |
| WICHITA ST. | 5 |
| MEMPHIS | 5 |
| UCLA | 5 |
| MISSISSIPPI | 5 |
| NEW MEXICO ST. | 3 |
| AKRON | 3 |
| DAVIDSON | 3 |
| TEMPLE | 3 |
| VALPARAISO | 2 |
| HARVARD | 2 |
| PACIFIC | 1 |
| IONA | 1 |
| SOUTH DAKOTA ST. | 1 |
| FLORIDA GULF COAST | 1 |
| NORTHWESTERN ST. | 1 |
| MONTANA | 1 |
| WESTERN KENTUCKY | 1 |
| SOUTHERN | 1 |
| ALBANY | 1 |
| JAMES MADISON | 1 |
| NORTH CAROLINA A-T | 1 |
Again, you can construct a squad of however many teams you would like AS LONG AS YOU STAY AT OR UNDER $100. You could literally have 28 teams in your stable! Unfortunately, almost none of these teams would be likely to win even one game, let alone two, so that's what you need to grapple with. Do you want to take a few near sure-things (like Indiana and Louisville) and a few longer shots, or do you take a ton of longshots? Or try for some happy medium?
Whatever you do, remember that even if your teams flame out this week, you'll be supplied with new team prices next week and should still have a chance to win regardless of what happened (last year, everyone was still in contention after the first weekend and only one of 11 people was eliminated entirely heading into the Final Four).
You can have as many entries as you want. Feel free to share with friends, but if we get above 20 entries somehow, I'm keeping 5% for myself for doing the legwork.
If you want to be in, send me an email at bobwothe@gmail.com titled 2013 NCAA POOL WEEK 1 TEAMS with your teams and $30 via PayPal gift (bobwothe@gmail.com) or check (2190 Willow Hill Dr., Neenah, WI 54956) by Thursday, 3/21, at 10 a.m. CST. If you haven't gotten me the money or made other arrangements by then, your entry will not count, PERIOD.
Last thing: In order to remove any issues with me knowing other people's picks before giving my own, I will send my picks to a new email account each week before 11:59 p.m. CST Monday of that week. You will then need to get your picks to me by 11:59 p.m. CST Tuesday of that week. Then, Wednesday night/Thursday morning of each week, I will send out an email with a spreadsheet containing everyone's picks AS WELL AS the login credentials to the email account that I create. This will provide a timestamped version of my picks so that you can rest assured that I am not cheating.
As for this first week, I have already sent my two entries on to this new email address, so you may send in your entries whenever you wish.
Let me know if you have any questions. Again, feel free to share this with others!
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