As far as we know — though we tend to only know sportsy folks — everyone fills out a March Madness bracket. We think even more people will fill one out this year when they hear this: Warren Buffett’s Berkshire Hathaway and Dan Gilbert’s Quicken Loans will team up to give a billion dollars to whoever creates a perfect bracket.
What happens if LeBron is the one to make a perfect bracket? Will Cavs’ owner Gilbert still honor the agreement? Only time will tell.
From Yahoo Finance:
Any qualified entrant who correctly enters the contest and predicts the winners of every game in the tournament will share the total $1 billion prize paid in 40 annual installments of $25 million. Alternatively, the winner(s) may elect to receive an immediate $500 million lump sum payment or share in that lump sum payment if there is more than one perfect bracket submitted.
“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,” said Jay Farner, President and Chief Marketing Officer of Quicken Loans. “It is our mission to create amazing experiences for our clients. This contest, with the possibility of creating a billionaire, definitely fits that bill.”
In addition to the potential grand prize, Quicken Loans will award $100,000 each to the contest’s 20 most accurate ‘imperfect’ brackets submitted by qualified entrants in the contest to use toward buying, refinancing or remodeling a home.
Whether you take the time to consider every possible matchup and diligently create dozens of submissions, or if you just choose whichever names sound coolest and/or the top seeds, there seems to be no good method for filling out a flawless bracket. That’s probably because, with 68 teams in the running, there’s about a 1 in 9.2 quintillion chance that you’ll fill it out perfectly.
That number is 9.2 billion times a billion. You’d have a better shot at hitting four holes in one in a single round of golf. So go out there, start working on your golf swing, hope to land four holes in one and then immediately rush home and fill out a bracket. Besides actually working hard or being born into great wealth, it’s your best shot yet at becoming rich.
Note: Your odds are better if you account for things like number one seeds beating up on lower seeds in the early rounds and other smart bets, but still, you won’t get better numbers than 1 in 128 billion.
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