NCAA Pool

[phattymatty]

I do an 'auction style' NCAA pool with some friends every year, but since i'm addicted to gambling i'd be willing to put another one together if anyone is interested.  We get together and get drunk and watch the play-in game during the team auction but obviously we could do it online.  If there are 7 people interested I'll set it up.  These are the rules:

Eight people will draft the 64 teams in random order.  (We each get one 15
or 16 seed free)  Each person will have 500 points with which to bid on as
many teams as they would like.  Winning bidder for each team wins money for
each game won by his team throughout the tourney.  I am proposing this pay
schedule this year:

1st round win $6
2nd round win $8
3rd round win $10
4th round win $12
semi-final win $16
final win         $16

Each person starts the tournament $62 in the hole.  Each win adds to your
total.  Example: A team that wins two games would pay $14, the champion will
pay $68.  After the tourney you will either pay or get paid based on how
your teams did.  Average win/loss is around $20.

[PoopyfaceMcGee]

How will you do the draft?  Conference call?  Online chat?

[phattymatty]

I guess we could do it on AIM or something similar. 

And now that I think of it, I guess people will just have to trust me on the random drawing of teams. 

[PoopyfaceMcGee]

I don't really get it, but I'm up for it if you can get enough people.  I could also offer the use of my toll-free ready-conference number.  There are some minimal advantages to having 25-30 hours of conference calls a week.

[phattymatty]

it's pretty simple, we pick each team out of a hat, and then each person has 500 'points' to buy that team.  so some people end up spending a lot on 2-3 really good teams, while others spread the wealth on a bunch of middle of the road teams.  basically, if every single one of your teams loses in the first round, the most you lose is $62.  we've been doing this for like 4 years now and the most anyone has ever lost was like $35, and that was me 2 years ago when i blew my wad on st. joes.

[PoopyfaceMcGee]

I see... it's not a draft at all.  Simple auction.  Gotcha.

I may set a new losing record this year.

[ice grillin you]

so a team is picked and then all eight people perform an auction on that team...and the high bidder wins it

[phattymatty]

correct.

[PoopyfaceMcGee]

I'm not touching Duke with a 10-foot pole.  So, are you in, IGY?

[ice grillin you]

yeah what the hell ill do it

what happens if all eight teams 'pass' on a particular squad

[phattymatty]

yeah what the hell ill do it

what happens if all eight teams 'pass' on a particular squad

it doesn't happen, someone will pay at least 1 for a team, there's no reason not to.  and like i said, the 15 and 16 teams are 'freebies', each person gets 1.

[ice grillin you]

lets get this shtein started...

LETS DO IT!!.....COME ON!

[SunMo]

i might be in

but i'm having trouble comprehending the concept

[rjs246]

I'm in, of course.

[SunMo]

shouldn't winning the final game be more than winning a final four game?