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Warren Buffett offering $1 billion for perfect bracket

Published: Sunday, July 5 2015 9:44 a.m. MDT

Warren Buffett speaks during an interview with Liz Claman of the Fox Business Network, in Omaha, Neb., Monday, May 6, 2013. The Berkshire Hathaway shareholders meeting took place over the weekend. (AP Photo/Nati Harnik) (Nati Harnik, AP) Warren Buffett speaks during an interview with Liz Claman of the Fox Business Network, in Omaha, Neb., Monday, May 6, 2013. The Berkshire Hathaway shareholders meeting took place over the weekend. (AP Photo/Nati Harnik) (Nati Harnik, AP)

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.

Read more about the ins and outs of the contest on Bloomberg or enter the contest on Quicken Loans’ Facebook page.

Brigham Young forward Brock Zylstra celebrates after he scored in the closing minute of BYU's 78-72 win over Iona in an NCAA men's college basketball tournament opening-round game, Tuesday, March 13, 2012, in Dayton, Ohio. (AP Photo/Al Behrman) (Al Behrman, ASSOCIATED PRESS) Brigham Young forward Brock Zylstra celebrates after he scored in the closing minute of BYU's 78-72 win over Iona in an NCAA men's college basketball tournament opening-round game, Tuesday, March 13, 2012, in Dayton, Ohio. (AP Photo/Al Behrman) (Al Behrman, ASSOCIATED PRESS)

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