Undergraduates from 36 colleges and universities across the country enter this collegiate competition. After 12 quarterfinal games, the winners face each other in 4 semifinals, with the 3 highest scoring winners facing off in a 2-game final. Only one will claim the $250,000 grand prize. Second place gets $100,000, third place $50,000, fourth place $35,000, non-winning semi-finalists get $20,000, and non-winning quarter-finalists get $10,000.