Warren Buffet’s company Berkshire Hathaway has teamed up with Cleveland Cavaliers owner and Quicken Loans founder Dan Gilbert to give you the opportunity to win $1 billion.
The rules are simple: If you can fill out a perfect 2014 Men’s NCAA Tournament bracket the duo will award you $1 billion. The prize will be paid out in 40 installments of $25 million or one lump sum of $500 million to one or more winners.
“It is our mission to create amazing experiences for our clients. This contest, with the possibility of creating a billionaire, definitely fits that bill,” Jay Farner, President and Chief Marketing Officer of Quicken Loans, said in a statement. He added: “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.”
The odds though are definitely against you. The chance of you getting a perfect bracket is a 1 in 9.2 quintillion (1 in 9,200,000,000,000,000,000) chance.
Can’t fill out a perfect bracket, don’t worry. Quicken still plans to award $100,000 to the contest’s 20 most accurate “imperfect” brackets submitted by qualified entrants, although the money must be used toward buying, refinancing or remodeling a home. In addition, Quicken plans to donate $1 million to inner-city Detroit and Cleveland non-profit groups.
The contest is free of charge and open to U.S. citizens who are 21 years of age or older. The bracket challenge will begin on March 3, although a url has not been provided yet for the contest website. Quicken Loans urges those interested in participating to stay tuned to their Facebook and Twitter accounts as March 3 nears.
March Madness begins on March 18.Note: BackstageOL is in no way affiliated with this contest.