I would imagine most people would hedge at least one round earlier. A perfect bracket going into the elite 8 would have an expected value of ~1M after tax. Nobo

I would imagine most people would hedge at least one round earlier. A perfect bracket going into the elite 8 would have an expected value of ~1M after tax. Nobody would ride it past then. Of course, you end up running a 1/128 chance of being the unhappiest winner of a million bucks ever. I actually think that if anyone had gotten through this weekend clean (48/48) the expected value is 9k pretax, and I think most would take that.