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Registration opens in Buffett's $1 billion NCAA bracket contest

Berkshire Hathaway Chairman Warren E. Buffett and Business Wire CEO Cathy Baron Tamraz stand on the floor of the New York Stock Exchange before the opening bell on Wall Street In New York City on September 30, 2011. UPI/John Angelillo
Berkshire Hathaway Chairman Warren E. Buffett and Business Wire CEO Cathy Baron Tamraz stand on the floor of the New York Stock Exchange before the opening bell on Wall Street In New York City on September 30, 2011. UPI/John Angelillo | License Photo

ARLINGTON, Texas, March 4 (UPI) -- Registration has opened in U.S. mogul Warren Buffett's contest to award $1 billion to anyone picks a perfect bracket in the NCAA men's basketball tournament.

Buffett is insuring the contest, which is free to enter and sponsored by Quicken Loans, the Los Angeles Times reported Tuesday.

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Quicken Loans, based in Detroit, paid Buffett an undisclosed fee to cover the $1 billion prize in the event that someone turns in a perfect run through the NCAA men's college basketball tournament that begins March 18.

Billionaire wannabes interested in entering the contest must first sign up at quickenloansbracket.com. The contest is limited to the first 15 million people who register.

Yahoo! Sports is handling technology support for the contest and requires entrants to sign up for a free Yahoo! account to submit a bracket, the Times said.

A skilled handicapper would have about a 1-in-1-billion chance of completing a perfect bracket, Ezra Miller, a Duke University mathematics professor, told the newspaper.

The semi-final and final games will be in Arlington, Texas.

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