Warren Buffett and Quicken Loans Offering $1 Billion For A Perfect NCAA Bracket

Rucuss staffJanuary 21, 2014

Quicken Loans and investment firm Berkshire Hathaway have teamed up to offer a $1 billion prize to anyone who enters their contest and can correctly predict every single winner in the 2014 NCAA Tournament.

The companies are also offering 20 people $100,000 for filling out the most accurate bracket in the contest. Quicken Loan was founded by Cleveland Cavaliers owner Dan Gilbert and Warren Buffett founded Berkshire Hathaway.

“We’ve seen a lot of contests offering a million dollars for putting together a good bracket, which got us thinking, what is the perfect bracket worth?” Quicken Loans president and chief marketing officer Jay Farner told the Detroit Free Press. “We decided a billion dollars seems right for such an impressive feat.”

Buffett is proud to insure a $1 billion prize, which will be paid in a lump sum of $500 million or $25 million per year for 40 years. Mathematicians have estimated that there is a roughly 1 in 9,223,372,036,854,775,808 chance of filling out the perfect NCAA Tournament bracket.

This March, correctly predicting every single winner in the 2014 NCAA Tournament could make you a millionaire after taxes.

Participants can register for free on Facebook from Monday, March 3 through Wednesday, March 19.

Photos via New York Daily News and interactives.wtnh.com

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