Posted March 17, 2014

Warren Buffett Offers $1 Billion to Anyone with the Perfect March Madness Bracket

News
via Getty Images

via Getty Images

UPDATE: You can enter the bracket challenge by going here. According to the Dallas Morning News, submissions will be limited to one per household and capped at 10 million entrants. More information for the contest can be found here.

In this tough economy, it’s fair to say that we could all use an extra billion dollars.

Fortunately, someone could be a billion dollars richer in a few months, thanks to a perfect March Madness bracket and a rather generous offer from business and investor magnate Warren Buffett, currently listed as the world’s fourth richest individual.

The 83-year-old Omaha-native’s company Berkshire Hathaway is teaming up with Quicken Loans’ Dan Gilbert, owner of the Cleveland Cavaliers, to offer a cool billion to anyone who can successfully fill out the perfect bracket for this year’s NCAA Men’s basketball tournament. The payments will be given in 40 annual installments of $25 million.

So what, you may ask, are the odds of filling out the perfect bracket? Roughly 1 in 9.2 quintillion.

But if you tend not to have much luck in March, it should be noted that Quicken will award $100,000 each to the contest’s 20 most accurate “imperfect” brackets to be used toward buying, refinancing or remodeling a home.

[h/t Slate]

6 comments
Texboy14
Texboy14

You do know that you get a billions bucks for not only the winner of all of the games, but for the PERFECT score of the Championship Game, right? So that means, NO ONE is gonna get that billion dollars.

ChristopherMosbo
ChristopherMosbo

I didn't know we were flipping a coin to choose every game.


Nor did I know that this field would have only 64 teams.


This is what your writer tells us (after all, 2^63 is 1.92 quintillion)


Read the article you cited (Roughly 1 in 9.2 quintillion.) which gave a good estimate of 1 in 772 billion actual probability of getting a perfect bracket, realize that there are 4 new games that are essentially coin flips (so multiply that 772 billion by 2^4) and you get a roughly 1 in 12 trillion chance.


Better yet, you are SI.  Call up Nate Silver to do some of your numbers for you.  He is a bit of a sport buff, and he knows his probabilities a whole lot better than you do!

binciong
binciong

March Madness in Las Vegas Facebook Group - Viewing parties, sports betting, hotel deals, college basketball discussion, strategies, Las Vegas deals.  If you are going to be in Las Vegas for March Madness, you need to join this group.
https://www.facebook.com/groups/mmilv/

KyleCusick
KyleCusick

@ChristopherMosbo  Except that 772 billion takes into account easy picks, like the 1st vs 16th seed games. And whenever there's a game to enter the field of 64, that team never makes it to the 2nd round. So while the 9.2 quintillion would be affected by those 4 games, I imagine the 772 billion would not.