I do a pool where you get "$10,000" to bet with all tournament and whoever ends up with the most money wins.
I also do a player draft every year.
The bracket thing is so low down on my list these days. I don't even know who is in what region and who is what seed. Scrolling through the games, I keep getting surprised by seeing NC State, Texas A&M type teams. They don't feel like tournament teams to me.