I really dislike the scoring system which ESPN uses.
It over weights the picks at the end imo.
I would propose the following method of scoring. Each correct pick is worth their seed # in points multiplied by the round # of the tournament game.
So picking a #1 seed to win in the first round would be worth: 1 x 1 = 1 point.
However, selecting a #5 seed such as Butler or Michigan State this year to win their regional final and advance to the Final Four would be worth: 5 x 4 = 20 points.
The St. Mary's upset of Villanova would have been worth the same amount: 10 x 2 = 20 points, but Cornell over Wisconsin would have netted the selector 24 points.
In considering if this system awards about the right amount of points think about how likely it is for a #1, #2, or #3 seed to win the title versus how likely it is that a #10 seed makes it to the Sweet 16 or a #7 seed reaches the Elite 8. What do think would be the more difficult prediction to make correctly and thus should be worth more points?
Perhaps people could go through their brackets and post their score under the Nevada System.

Mine would be:
1st round: 97
2nd round: 58
3rd round: 18
4th round and beyond: zero
Total: 173