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The NCAA tournament distributes money to conferences based upon how many games the member teams play in the tournament. Then the conference divides that money equally among the member teams. For participation in the tournament the NCAA gives teams a travel allowance for each game that they play, but the real money comes from their share of the conference money. For example the MVC received $2.95 million based upon its success between 2000-2005, whereas the Big 12 received $14.4 million. Teams that make it to the first round this year and lose receive $82,000 in travel money, and they receive more if they advance.

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Q: How much do college teams receive in 'prize money' for attending and or winning in the NCAA tournament?
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