The History of the Big College Basketball Tournament

It’s that time of year again. If you walk into any office in Columbus, Ohio, or scroll through your social media feed right now, you’re bound to see one thing: brackets. The air is buzzing, the snacks are prepped, and suddenly, everyone is an amateur scout with a "guaranteed" upset pick.

I’m Steven Scott, and here at Affinity Group Mortgage, we live for the excitement of the "Big Game", whether that’s on the court or at the closing table. But as I sat down to fill out my own bracket this year, I started wondering: how did we get here? How did a small college basketball tournament turn into a multi-billion dollar cultural phenomenon that shuts down productivity across the nation for three weeks every March?

It turns out, the history of the college basketball tournament is a lot like the journey to homeownership. It started small, faced some early losses, required some serious strategy to grow, and eventually became a legendary success story.

The Surprising Origins of "Madness"

You might think the term "the college basketball tournament" was cooked up in a high-powered marketing meeting at the NCAA headquarters. Actually, it didn't even start with college ball.

The phrase was first coined by a high school executive named Henry V. Porter in 1939. He was watching the Illinois high school state basketball tournament and saw the pure, unadulterated passion of the fans and players. He wrote an essay titled "the college basketball tournament," describing the way the tournament brought a "little madness" to society to help keep everything else on an even keel.

At Affinity Group Mortgage, we see that same kind of passion every day. When a first-time homebuyer finally finds "the one" in a competitive neighborhood, there’s a level of excitement that rivals a buzzer-beater. If you’re ready to start your own journey, you can apply online and see what kind of "the big tournament" we can help you navigate.

The First Big Dance (And an Ohio Connection!)

The very first NCAA Men’s Basketball Championship took place on March 27, 1939, in Evanston, Illinois. But here is a fun fact for my fellow Ohioans: the inaugural championship game featured our very own Ohio State University!

The Buckeyes went up against the University of Oregon. While Oregon walked away with the 46–33 victory (yes, scores were a lot lower back then), Ohio State helped cement the foundation for what would become the greatest tournament in sports history.

In those early days, the tournament was far from a money-maker. In fact, the first year actually resulted in a financial loss. It took another year for the NCAA to take a hands-on approach and turn a modest $9,500 profit. It just goes to show that even the biggest legends have humble beginnings. Whether you’re looking to purchase your very first home or you’re an experienced investor, every great portfolio starts with that first calculated move.

From a Field of 8 to a Field of 68

For the first twelve years of its existence, the tournament was a tiny affair. Only eight teams were invited. Compare that to the 68-team gauntlet we see today!

Throughout the mid-20th century, the NCAA tournament actually lived in the shadow of the National Invitation Tournament (NIT). Back then, the NIT was seen as the more prestigious event. However, as the NCAA expanded the field: growing to 16 teams in 1951, 32 in 1975, and eventually 64 in 1985: it became the definitive "Big Dance."

Watching the tournament grow is a lot like watching the Columbus, Ohio real estate market. What used to be a relatively quiet area has expanded into a massive, competitive field where you need the right strategy to win.

Why We Call It "The Big Dance"

If "the college basketball tournament" came from high school ball, where did "The Big Dance" come from? We can thank Marquette University coach Al McGuire for that one. In 1977, when asked about his team’s chances, he famously said, "You gotta go to the dance." The phrase stuck, perfectly capturing the prestige and "invitation-only" nature of the tournament.

But the term "the college basketball tournament" didn't truly become synonymous with the NCAA until 1982. That was the year legendary broadcaster Brent Musburger used it during the tournament coverage. Suddenly, a term used for Illinois high schoolers was the official brand of college basketball.

Of course, with great branding comes great legal battles. The NCAA and the Illinois High School Association eventually had to go to court over the trademark. In a rare move of cooperation, they decided to share the rights in 1996. It just goes to show that even in a competitive environment, there’s usually a way to find a win-win solution: much like how we work to find the right loan options for our clients.

Bracket Strategy vs. Home Buying Strategy

We’ve all been there: you spend hours researching stats, looking at "strength of schedule," and checking injury reports, only to have your bracket busted by a 15-seed in the first round.

Winning in March requires a mix of data and intuition. Buying a home is surprisingly similar. You have to look at the "stats" (interest rates, property taxes, and market trends), but you also have to go with your gut on the neighborhood and the "feel" of the house.

Here are a few ways your bracket strategy mirrors your home-buying strategy:

Don’t Overthink the Favorites: Just like you shouldn't automatically pick every 1-seed to make the Final Four, you shouldn't assume the most expensive house is the best investment. Sometimes a USDA loan in a developing area is the "Cinderella story" your budget needs.
Scout the Competition: In basketball, you want to know who you’re playing. In real estate, you want to know the market. Are there multiple offers? Is it a "full-court press" situation?
Have a Strong Bench: You can't win a championship with just one player. You need a team. When you’re buying a home, your "bench" includes your realtor, your inspector, and your loan officer.

If you’re feeling like your current mortgage is a "lost season," it might be time for a refinance. Sometimes a change in strategy is all you need to get back in the game.

The Evolution of the "Big Game" Revenue

It’s hard to believe that a tournament that lost money in 1939 is now worth billions. In 2011, networks agreed to pay over $10.8 billion for the television rights. Why? Because the drama of the "Big Dance" is unmatched.

We see that same kind of value in the homes our clients buy. A home isn't just a place to sleep; it’s an asset that grows in value over time. Whether you’re looking at a fix-and-flip project or a long-term family home, you’re building your own "tournament-winning" legacy.

Why Columbus is the Place to Be for Basketball (and Living)

Here in Columbus, we are a basketball city through and through. From the local high school rivalries to the sea of Scarlet and Gray, the energy this time of year is infectious. Being a Mortgage Loan Officer here means I get to see the community come together every March.

But beyond the tournament, Columbus is a championship-level place to live. If you’ve been sitting on the sidelines watching the market move, don’t wait for the "One Shining Moment" to pass you by. You can check out our learning center to get up to speed on the process, or use our mortgage calculator to see what your "salary cap" looks like.

Your Championship Team at Affinity Group Mortgage

At the end of the day, the college basketball tournament is about more than just basketball. It’s about the journey, the upsets, the strategy, and the ultimate reward.

At Affinity Group Mortgage, we treat your mortgage journey with that same level of dedication. We know that the "Big Game" of real estate can be intimidating. There are a lot of rules to follow, the clock is often ticking, and the competition can be fierce. But with the right coaching and a solid game plan, you can cut down the nets at your very own closing day.

Whether you're a veteran homeowner looking for a VA loan or you're interested in an IRRRL to lower your payments, we have the playbook to help you win.

So, as you settle in to watch the games this month, enjoy the madness! And remember, if you need a teammate to help you navigate the housing market, I’m always here to help. You can learn more about us or see what our other "MVPs" have to say on our testimonials page.

Let the games begin!

Ready to make your move? Contact us today or get a quick quote to see where you stand in this season's housing market!