Warren Buffett Offers $1 Billion Prize To Fan Who Fills Out Perfect March Madness Bracket

January 22, 2014 12:29 pmViews: 243

Warren Buffett Billion Dollar Bracket

Billionaire investor Warren Buffett is offering a $1 BILLION prize to the lucky fan who can come up with the perfect March Madness bracket for college basketball. This almost sounds like something you'd find on Snopes, but you won't find this one there. I usually check the urban legend debunking site whenever someone sends me one of those, "Bill Gates will send you a dime for every person you forward this email to" letters or the like that goes around from time to time, except for this one is real.

Quicken Loans has information about the prize on their Facebook page, but they don't have official rules out yet or a url or way to actually enter the contest yet.

Not only is there a Grand Prize worth $1 billion, there are 20 First Prizes worth $100,000 each that will go to the people with the top 20 brackets. I'm sure that kind of money would certainly stimulate someone's economy.

Read more on the contest and the astronomical odds of winning from The Bleacher Report below:

What’s a perfect March Madness bracket worth? In Warren Buffett’s mind, about $1 billion.

According to Rob Wile of Business Insider, Buffett’s company, Berkshire Hathaway, has teamed up with Cleveland Cavaliers owner and Quicken Loans founder Dan Gilbert to offer college basketball fans a shot at becoming a billionaire.

The offer is simple: If you fill out a flawless, twinkling NCAA men's basketball March Madness bracket—you win all the enchiladas. And by "enchiladas," I mean, $1 billion, to be "paid out in 40 annual installments of $25 million," as Wile notes.

Indeed, there are certain small stipulations that come should a contestant win the prize money, although the small print hardly dampers winning this ridiculously large sum of money.

Should a contestant manage this ridiculously unlikely feat (the chances of filling out the perfect bracket are one in 9.2 quintillion—a nine with 18 zeroes), the sum will be doled out in the aforementioned installments.

The winner would also have the option to settle for a single, $500 million lump sum prize should they wish to forego the installment plan. In the unlikely case of two winners filling out perfect brackets, the prize money would be split down the middle.

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