Providence, Rhode Island based MCG, LLC signed a multi-year deal today with international sports entertainment firm ESPN for the creation of a March Madness Bracket Optimizer for ESPN.com’s popular Insider program. MCG is a mathematical, statistical and strategic consulting firm that specializes in assisting firms with complex quantitative problems. The firm’s unique blend of quantitative expertise and business acumen has allowed them to work with some of the largest firms in the nation.
ESPN, the worldwide leader in sports, is an international sports and entertainment firm owned by The Walt Disney Company.
For the March Madness project with ESPN, MCG devised an innovative mathematical approach to constructing brackets for the NCAA “March Madness” Championship Tournament.
“It uses artificial intelligence algorithms, game theory and the results of millions of Monte Carlo simulations to forecast all of the possible ways in which competitors might choose their brackets," MCG said in a news release.
The Bracket Optimizer, which is scheduled to go live in March prior to the start of the tournament, will allow ESPN.com Insiders to maximize their chances of winning the many recreational pools organized around the NCAA finals. “We feel our tool will give ESPN.com Insiders an interesting and engaging way of participating in the excitement that surrounds the NCAA Championship Tournament,” said MCG.
“After making one’s picks, the tool spits out an Expected Value, which is the value a fan is projected to achieve in their pool if they use the Bracket Optimizer’s recommended picks,” the firm explained.
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