Billionairs Warren Buffett and Dan Gilbert will pay $1billion for perfect NCAA bracket

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Warren Buffett worth $58.5 BILLION and Dan Gilbert worth $3.9 BILLION

Billionaire Warren Buffett’s company Berkshire Hathaway, has teamed up with Cleveland Cavaliers owner and Quicken Loans founder Dan Gilbert to offer college basketball fans the chance to win $1 billion. If you fill out a perfect NCAA men’s basketball March Madness bracket you’ll win the full prize. 

I know it sounds to good to be true but the actual chances of filling out a perfect bracket are one in 9.2 quintillion or if you have extensive knowledge of all of the teams then your odds can go up to about 1 in 128 Billion. Even though its completely unlikely that two people will win the prize, which will be split evenly down the middle they have rules set for it.

The winner(s) can choose to have the prize money doled out over 40 years at $25 million per year, or to have $500 million lump sum pay out. $100,000 will be given to the top 20 closest, yet imperfect brackets. The only catch if you’re one of the top 20 imperfect brackets is that you have to spend the money on remodeling, refinancing, or buying a home(which is still a great deal). Quicken Loans will also donate $1 million to nonprofit organizations in inner-city Detroit and inner-city Cleveland for the second prize winners. 

The contest begins March 3, and is only open to U.S. citizens 21 or older. Those interested should keep an eye open on the Quicken Loans FACEBOOK PAGE for more infomation about completing your entry.

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