One of the guys on the old Michigan board as well. I probably entered every week for seven or eight years. They also did a bowl game version of it as well.The Kentucky Rivals board used to have an underdog challenge. They listed every FBS game with point spreads. You pick one underdog to win outright. If correct, you get the points they were predicted to lose by. If wrong, you get a 0.
It was pretty fun because to get the most points, you had to figure out an underdog you liked and had a good spread. They may have had a poster who had a program that deciphered the results. I never looked into it, but hung out there some while Levis was a Wildcat.