• Loading stock data...
Friday, October 10, 2025
One week until Asset Class at the NYSE Request to Attend

Yes, the First Four Matters. Here’s Why

  • March Madness gets underway with the First Four in Dayton on Tuesday.
  • The preliminary action has previously created several financial success stories.
Feb 18, 2023; Salt Lake City, Utah, USA; Grambling State University Tigers guard Tra'Michael Moton (5) celebrates with guard Shawndarius Cowart (10) after making a basket against the Southern University Jaguars during overtime at the Jon M. Huntsman Center.
Christopher Creveling-USA TODAY Sports

The preliminary round of the men’s NCAA tournament is nothing to sleep on.

March Madness officially tips off Tuesday night with the First Four in Dayton—and crucial $2 million payment units are on the line for advancing to latter stages of the tournament.

Automatic qualifiers Wagner and Howard will compete for the West Region’s 16-seed, while fellow conference champions Grambling State and Montana State will battle for the 16 in the Midwest. At-large matchups featuring Colorado State–Virginia (Midwest) and Colorado–Boise State (South) will round out the preliminary action in Ohio over the next two days.

Since the bracket expanded to 68 teams in 2011, a First Four team has made it to the second round every year except once (’19). First Four winners have gone on to 21 main NCAA tournament games over the past 13 years and twice made it to the Final Four (VCU in ’11, UCLA in ’21). Last year, Fairleigh Dickinson became the first automatic qualifier from the First Four to win a tournament game, with the Knights’ upset of top-seeded Purdue leading to all kinds of off-court success, like a new media-rights deal with YES Network.

Staying Tru

If you want to watch the First Four, you’ll need to make sure your TV package includes TruTV—the oft-forgotten cable stepchild of Warner Bros. Discovery, the company that, alongside CBS, is paying some $900 million annually to broadcast March Madness. For years, sports fans have joked about TruTV’s irrelevance outside of March, but this month marks a major pivot for the channel, which is transitioning to airing sports content full-time on weeknights moving forward. 

Last year, First Four games averaged 1.35 million viewers on TruTV, down from the 1.75 million action in 2022, which benefited from the inclusion of Notre Dame and set a record for the two-night format. (In ’21, all four games aired on one night, spread across TruTV and TBS.) But after this year’s games on TruTV—which will include eight first-round matchups—WBD is hoping fans will stick around for the channel’s new nightly TNT Sports Update program, as well as a betting-focused show, plus simulcasts and alternate casts of NBA, NHL, MLB games.

Where the Madness Begins

The 13,000-seat University of Dayton Arena has hosted every First Four game outside of the pandemic-impacted 2021 tournament dating back to ’11. And even before that, it was the site of the one-game opening round featuring the two lowest-ranked automatic qualifiers, which began in ’01.

UD Arena routinely gets near-capacity crowds: About 25,000 fans typically attend First Four games over two nights. As of Monday afternoon, the cheapest official resale tickets cost $89 before taxes and fees. And for locals looking to capitalize on the new business in town, the March Madness bump will continue later this week, if not longer: Dayton’s men’s basketball notched its first NCAA tournament bid since 2017, earning a seven-seed; now the Flyers are set to face 10-seed Nevada on Thursday in Memphis.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

exclusive

LSU Signs Multimillion-Dollar Jersey Patch Deal Before NCAA Approval

A new proposal would allow jersey sponsors in 2026.

What If UNC and Belichick Part Ways? The Buyout Structure Is …..

If Belichick is fired without cause in his last two seasons, UNC owes him nothing.

NFL Viewership Reaches Highest Level Since 2010, Up 8% from 2024

Through Week 5, the league’s audience levels are at a 15-year high.
May 10, 2025; New York, New York, USA; Singer Bad Bunny watches game three of the second round for the 2025 NBA Playoffs between the Boston Celtics and the against the New York Knicks at Madison Square Garden.
opinion

How NFL Can Get Its Arms Around Bad Bunny Situation

The league could try to balance Bad Bunny with a MAGA-friendly performer.

Featured Today

Paul Cartier

Sports Organists Are Still Thriving in the Era of Raucous Arena Music

“When they walk out and they see a real organ guy, it’s like, ‘Wow.’”
Sep 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Brewers center fielder Jackson Chourio (11) rounds the bases after hitting a home run during the sixth inning against the Cincinnati Reds at American Family Field.
October 4, 2025

Milwaukee Moneyball: Brewers Are Beating MLB’s Deeper Pockets

Milwaukee is holding its own against big-budget competitors.
Kōloa Rum Company Rum Rusher
September 27, 2025

Panthers Bubbly, Jets Wine, Manning Whiskey: The Sports Booze Boom

A sommelier dives into the sports booze trend—and tries Jets wine.
Nov 17, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers fans wave Terrible Towels against the Baltimore Ravens during the fourth quarter at Acrisure Stadium
September 26, 2025

Steelers’ Irish Roots Are Deeper Than NFL Dublin Game

The Steelers have history and the foundation for a future in Ireland.
Sep 1, 2025; Chapel Hill, North Carolina, USA; North Carolina Tar Heels head coach Bill Belichick on the field before the game at Kenan Stadium

UNC’s Disastrous Season Continues With Report of NCAA Rules Violation

A UNC cornerbacks coach reportedly gave sideline passes to a player’s family.
Oct 4, 2025; Lincoln, Nebraska, USA; Nebraska Cornhuskers defensive back DeShon Singleton (8) celebrates after making an interception during the game against Michigan State at Memorial Stadium.
exclusive
October 7, 2025

Big Ten Considering Investment From California Pension Fund

Under the proposal, Big Ten would spin assets into a new entity.
Oct 4, 2025; Pasadena, California, USA; UCLA Bruins quarterback Nico Iamaleava (9) drops back to pass during the fourth quarter against the Penn State Nittany Lions at Rose Bowl.
October 8, 2025

NCAA Revises the Transfer Portal Windows Around Coaching Changes

The exception for coaching changes is shifting.
Sponsored

How Jenny Just Is Shaping the Future of Sports Ownership

Jenny Just on bringing her investment experience to sports ownership.
Sep 20, 2025; Lincoln, Nebraska, USA; Nebraska Cornhuskers head coach Matt Rhule walks onto the field before the game against the Michigan Wolverines at Memorial Stadium.
October 7, 2025

Big Ten Teams Grapple With Long Flights, Time-Zone Hurdles

Coaches across the country are noticing some impact.
October 7, 2025

NIL Hits Week 1: Auburn’s Atlanta Game Marks Next Step in Player..

The teams will play in the 2026 Aflac Kickoff Game.
Oct 4, 2025; Pasadena, California, USA; UCLA Bruins quarterback Nico Iamaleava (9) passes the ball during the fourth quarter against the Penn State Nittany Lions at Rose Bowl.
October 6, 2025

The Improbability of UCLA’s Incredible Upset Win Against Penn State

Before UCLA beat Penn State, donors were deeply unhappy.
Sep 27, 2025; University Park, Pennsylvania, USA; Penn State Nittany Lions head coach James Franklin reacts during the fourth quarter against the Oregon Ducks at Beaver Stadium.
October 6, 2025

Penn State Has a $50 Million James Franklin Problem

Franklin’s team lost to unranked UCLA on Saturday despite being heavy favorites.