Multibillionaire Warren Buffett is backing a $1 billion offer by Quicken Loans to anyone who can perfectly fill out a men’s basketball NCAA tournament bracket, according to Noah Buhayer and Zachary Tracer of Bloomberg.com.
The chances of filling out a perfect bracket are slim, they said.
“The odds of picking every winner correctly in a 64-team bracket are less than 1 in 9 quintillion, according to Jeff Bergen, a math professor at DePaul University in Chicago. Even with some basketball knowledge, that only improves to about 1 in 128 billion.”
The winner, if any, will receive payments of $25 million per year over 40 years, or one lump sum of $500 million. The contest is also limited to 10 million participants.
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