You are right it is an NCAA rule (bylaw) and you can find it
in the current DI, DII, and DII Manuals. Each division level releases a manual (available online) for each fiscal year (July 1 - June 30). I believe the "NCAA" (really the the members of the NCAA...aka schools) came up with this bylaw soon after the NCAA was founded (I think 1937). Their logic at the time was they viewed collegiate athletics as having an "amateur" status instead of a "professional" status. Also, the schools may have been trying to lower the risk of illegal activity (i.e. gambling, points shaving, etc.) "infecting" the "purity of the game."
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In response to this post by radhokie1)
Posted: 09/12/2019 at 4:34PM