It is not easy predicting the winner of every single game during the annual men’s college basketball tournament, also known as March Madness.
But if someone happens to accomplish the near-impossible feat this year, Warren Buffett has a nice little prize in the form of one billion American dollars.
Yes, that’s right — if you fill out a perfect bracket, Buffett will give you $1 billion.
The business mogul has partnered with Quicken Loans for the contest, which will also award $100,000 to the 20 most accurate “imperfect” brackets (although the money must be used toward buying, refinancing or remodeling a home).
“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? We decided a billion dollars seems right for such an impressive feat,” Quicken President Jay Farner said in a statement.
Due to the unpredictability of the tournament and all the wild upsets, chances of a perfect are extremely low — as in, you have a 1 in 9.2 quintillion chance of acing the bracket.
But hey, why not give it a try for a billion bucks. If you win, Buffett will pay you in 40 annual installments of $25 million or one $500 million lump sum payment up front. The contest opens March 3, while the hoops action gets underway March 18.
