Warren Buffet offering $1B for a perfect NCAA bracket

The odds will be against participants who will have to correctly guess the winners of all 67 games during "March Madness."
Posted By Ananth Baliga   |   Jan. 21, 2014 at 12:02 PM   |   Comments

| License Photo
Jan. 21 (UPI) -- Warren Buffet, popularly known as the "Oracle of Omaha," is insuring a Quickens Loan promotion that will award $1 billion to anyone who can predict a perfect bracket for the NCAA men's basketball championship.

If someone were to win, the prize will be paid for by Buffet's Berkshire Hathaway. Buffet said the winner would get the billion dollars over 40 years in annual payments of $25 million, or they could take a lump-sum payment of $500 million.

“Millions of people play brackets every March, so why not take a shot at becoming $1 billion richer for doing so?” Buffett said. “While there is no simple path to success, it sure doesn’t get much easier than filling out a bracket online.

Buffet said that if a contestant comes close to winning before the final game, he will accompany that person to the final game.

"I will invite him or her to be my guest at the final game and be there with a check in my pocket, but I will not be cheering for him or her to win," he said, jokingly.

Quicken will give 20 contestants who come the closest to winning a $100,000 each toward buying, refinancing or remodeling a home. The contest will start March 3 and brackets are expected by March 16.


Follow @antbaliga and @UPI on Twitter.
Contact the Author
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Featured UPI Collection
Notable deaths of 2014 [PHOTOS]

Notable deaths of 2014 [PHOTOS]

Most Popular
Why the fake braces trend may be dangerous for users
Jared Leto 'stopped eating' for his 'Dallas Buyer's Club' role
Gisele Bundchen, Tom Brady drop $14M on Manhattan home
Kelly LeBrock arrested for DUI
Brandi Brandt faces drug charges in Australia
Trending News