Warren Buffett is offering $1 billion to someone who can fill out a perfect March Madness bracket.

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.

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  • Paul_Owen

    Taylor, why would Buffet lend his name to Quicken?

    • Paul_Owen

      AP story has the answers: Looks like Berkshire Hathaway is getting a premium from Quicken (maybe $10 million) to insure the $1b. To answer Ben’s question below, only the first 10m applicants are allowed to enter the contest.

  • Kevin Nelson

    … does the “buying, refinancing or remodeling a home” aspect also apply to the billion dollar prize? :)

  • Guest

    Since that page was written, four more play-in games (the “First Four”) have been added. You now have a 2^67:1 chance of picking a perfect bracket through coin flips, or 147573952589676412928:1 according to WolframAlpha: http://www.wolframalpha.com/input/?i=2%5E67

  • Ben

    Couldn’t I just write a program that creates a bracket for each possible outcome and submit them all?

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