Tags: perfect | ncaa | bracket | 1b

Perfect NCAA Bracket Could Win You $1B Thanks to Warren Buffett

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Wednesday, 22 Jan 2014 08:10 AM

By David Ogul

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A perfect NCAA March Madness bracket in this year’s tournament might get you a $1 billion prize, thanks to Quicken Loans and Warren Buffett’s Berkshire Hathaway.

“Millions of people play brackets every March, so why not take a shot at becoming $1 billion richer for doing so,” Buffett told the Detroit Free Press. “While there is no simple path to success, it sure doesn’t get much easier than filling out a bracket online.”

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Any qualified entrant who plays by the rules and correctly predicts the winners of every game will claim a $1 billion prize paid in 40 annual installments of $25 million each. If more than one contestant wins, they would share the prize. Winners would have the option of taking a lump sum $500 million payment.

Entrants must be at least 21 years old and a U.S. citizen. Only one submission per household will be allowed.

“We’ve seen a lot of contests offering $1 million for putting together a good bracket, which got us thinking, 'What is the perfect bracket worth?’ We decided $1 billion seems right for such an impressive feat,” Jay Farner, Quicken’s president and chief marketing officer, told the Chicago Tribune. “It is our mission to create amazing experiences for our clients. This contest, with the possibility of creating a billionaire, definitely fits that bill.”

Registration begins March 3.

CNN said that if there is a contestant who has a chance for the prize when the championship game is held April 7 in Arlington, Texas, Buffet plans on bringing that person to the game.

“I will invite him or her to be my guest at the final game and be there with a check in my pocket, but I will not be cheering for him or her to win,” he joked. “I may even give them a little investment advice.”

Don’t get your hopes up, though. CNN notes there are more than 9 quintillion possible ways to fill out the 64-team bracket. Let’s just say that’s a 9 followed by a whole lot of zeros.

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