March Madness 2014 VIDEO: First Look Event Update
Most of us have filled out a bracket for March Madness. If you’ve actually won your pool, there aren’t many things more thrilling. But even those who win their brackets amongst office colleagues or friends still only correctly predict about half the games. Imagine what would happen if you were to correctly pick the entire bracket. What would it mean?
According to Entrepreneur.com, it would mean a billion dollars.
Online mortgage lender Quicken Loans and Berkshire Hathaway, the holding company run by Warren Buffett, recently announced they are teaming up to award $1 billion to the person who chooses a perfect NCAA March Madness tournament bracket.
Quicken is running the competition, and paying Berkshire Hathaway an undisclosed premium to insure and foot the bill for the prize, which will be paid out in either 40 annual installments or a $500 million lump sum….
…Quicken will pay $100,000 to the 20 qualified participants who come closest to a perfect bracket, to be put towards purchasing, refinancing or remodeling a home. The company will also donate $1 million to education non-profits in Detroit and Cleveland. Quicken’s founder Dan Gilbert is an owner of the NBA’s Cleveland Cavaliers, a team that plays their home games in the aptly named Quicken Loans Arena.
But don’t get your hopes up folks. The odds of predicting all 63 games in the NCAA tournament falls to around 1 in 9.2 quintillion. I don’t even know what that means. But it’s a number I can’t even fathom. I think you’re better off betting on how many more tattoos Rick Pitino will get following this year’s tourny.
