College basketball tournament event contract
Robinhood is offering event contracts on both the men's and women's college basketball tournaments taking place between March 20-April 7, 2025.
There are 2 types of contracts surrounding this event:
- Men’s and women’s college basketball final
- This allows you to speculate on the outcome of which college team you believe will take home the men’s and women’s championship trophies
- Men’s and women’s college basketball bracket
- This allows you to speculate on the outcome of the individual games taking place during the men’s and women’s college basketball tournament
Contracts will only be offered for the final 64 teams that make the tournament.
Men’s and women’s college basketball final
Contracts to speculate on the finals winner will be available as teams solidify their spot as one of the final 64 teams of the tournament. You'll be able to open net new Yes or No contract positions for each of the teams in both the men’s and women’s college basketball tournament.
You can’t simultaneously hold Yes and No contracts for the same event question. However, you can hold Yes and/or No outcomes for different contracts. For example, you could simultaneously hold Yes Team A and Yes Team B contracts if you believe those are the 2 most likely teams to win. You could also simultaneously hold Yes Team A and No Team B contracts.
Key dates and payout timeline
The men’s and women’s final contains the following key information available in the Timeline on the event detail page of each contract:
- Trading hours: 8 AM - 3 AM ET
- Contract resolve date: May vary
- While the selected team is still in the tournament, the contract resolve date will remain the April 7, 2025 for the men’s championship and April 6, 2025 for the women’s championship
- If the selected team is eliminated, the contract will expire following their elimination
- Payout date:
- For correct Yes outcomes: April 7, 2025 for the men’s championship and April 6, 2025 for the women’s championship
- For correct No outcomes: Payout will occur after the applicable team is eliminated
When a team loses, their Yes contract will settle at $0, and the value of their No contract will become worth $1.00.
Men’s and women’s college basketball bracket
Contracts will be available for each matchup once both teams have solidified their spot in the game. You'll then be able to open net new Yes or No contract positions for each game. You can navigate the games available to speculate on by swiping through the bracket. Swipe up and down to look through the events of the current round. Swipe left or right to change the tournament round you’re looking at.
If Team A’s next game is against the winner of Team B/Team C, there won’t be a contract available yet for Team A’s next game until the winner of Team B/Team C is determined.
Key dates and payout timeline
The men’s and women’s bracket contains the following key information available in the Timeline on the event detail page of each contract:
- Trading hours: 8 AM - 3 AM ET
- Contract resolve date: Will vary based on the date each game is played
- Payout date: Will vary based on the date each game is played
- Payouts for the correct outcome of a contract will be paid as close to the end of an event as possible
Exact processing times for payouts may vary. The payout date and the date funds are available for withdrawal are not the same. Proceeds from payouts will be available for withdrawal within 2 business days of the final trade or settlement date.
Trading college basketball contracts
You can search Men’s College Basketball or Women’s College Basketball to pull up each bracket. From there you can select the individual games you’d like to speculate on, or select Trade the Final to speculate on which team will win the championship.
For details on how to place event contract trades, please check out Trading event contracts.
This contract has a position limit of 50,000 contracts per event question. You can’t hold Yes and No contracts simultaneously for the same contract.
Fees and commissions
Each trade has the following commissions and fees:
- Robinhood commission: $0.01per contract bought or sold
- Exchange fee: $0.01per contract bought or sold
There are no additional commissions or fees to hold a contract through settlement.
Check out Fees and commissions for more information.
Disclosures
Restrictions and eligibility requirements apply. Futures, options on futures, and cleared swaps trading involves significant risk and is not appropriate for everyone. Please carefully consider if it's appropriate for you in light of your personal financial circumstances. Displayed prices are based on real-time market sentiment.
Read the Event Contracts Risk Disclosure for more information about the risks associated with event contracts.
The College Basketball Tournament event contracts are not endorsed by any collegiate athletic association or collegiate basketball team that is part of any collegiate basketball league, or any other company, agency, or government entity. The use of the term "College Basketball Tournament," and the use of any collegiate team names or abbreviations or colors does not indicate an endorsement of this product.
Futures, options on futures and cleared swaps trading is offered by Robinhood Derivatives, LLC, a registered futures commission merchant with the Commodity Futures Trading Commission (CFTC) and Member of National Futures Association (NFA).