March Madness is the popular name for the NCAA Men's Division I Basketball
Championship. No tournament, basketball or otherwise, captures the imagination
of the American people quite like this one, and it also leads to huge basketball
betting action.
It is a single elimination tournament held during March every year. It is
otherwise known as the "Big Dance". March Madness betting is a very popular
pastime for students, basketball fans and most North American sports fans., The
reason for this is not only the team loyalties, but the condensed 3 weeks format
culminating in the Final Four which reaches fever pitch and is one of the most
popular weekends in sports each year.
The tournament started in 1939 and has a rich history with some dynasty teams
and spectacular underdog stories. March Madness betting is enormously popular
and takes on all shapes including office pools which are very popular. From
2011, for the first time ever, fans can watch all the games live. The games will
be on the CBS network as well as the Turner network of stations (TBS, TNT, and
truTV).
The NCAA March Madness Bracket as it is popularly known is made up of four
divisions, headlined by the respective divisional champions. The NCAA selection
committee completes the other position in the bracket which follows a seeding
process that considers factors such as team rankings and win-loss records. A
total of 68 teams will start the contest following an expansion for the 2011
tournament.
The eight lowest seeded teams will play an opening round now known as the
"First Four" to determine the four teams that qualify for the main bracket to
take on the four Number 1 seeds. The winners of each region advance to compete
in the Final Four, which takes place on the Saturday with the championship match
taking place on the Monday.
UCLA currently holds the record for the most titles with 11, and the
University of Kentucky is second with 7. The reigning champions are the Duke
Blue Devils who won the tournament for the 4th time in 2010 in an eagerly
anticipated final against underdogs Butler (Duke won by
2 points).
Many sportsbooks run bracket contest for huge prizes. Popular wager types
include money line, futures, player props and team props.
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