Wednesday, January 22nd, 2014 at 10:30 am  |  19 responses

Warren Buffett and Dan Gilbert Offer $1 Billion for Perfect March Madness Bracket

Cleveland Cavaliers owner Dan Gilbert is partnering with fellow billionaire Warren Buffett to award $1 billion to anyone who fills out a perfect NCAA tournament bracket (the initiative is called the Quicken Loans Billion Dollar Bracket Challenge, insured by Warren Buffett’s Berkshire Hathaway.) Per the Plain Dealer:

“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?” Quicken Loans president Jay Farner said in a press release issued by the company. “We decided a billion dollars seems right for such an impressive feat.”

How impressive? According to the short-form official rules, the odds of picking a perfect bracket are 1 in 4,294,967,296.

According to those short-form rules published on the Quicken Loans Facebook page, the contest is open to legal residents of the U.S. 21 years and older. No purchase is necessary. One entry per household. The grand prize will be payable in annual payments of $25 million for 40 years or as a one-time payment of $500 million. There also will be 20 first-place prizes of $100,000 each for the best brackets that are not perfect to use toward buying, refinancing or remodeling a home.

According to the ESPN website, John Diver, director of product development for ESPN Fantasy, said not a single bracket among the almost 30 million entries submitted to ESPN’s Tournament Challenge over the past 16 years has been perfect. “I don’t want to say it’s impossible,” Diver said, “but it’s basically impossible.”

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  • shockexchange

    Dan Gilbert wants to hand out $1 billion for an NCAA bracket but never spent the money to bring talent to Cleveland in order to help LeBron? This guy has his priorities mixed up.

  • i_ball

    That’s a good point actually

  • http://twitter.com/sooperfadeaway nbk

    he actually spent a lot of money bringing people to Cleveland. The issue was that him and Danny Ferry kept trying to find quick fixes. Like Shaq. Antawn Jamison. He spent money, but he didn’t do it wisely, at all.

  • King Chalmers

    That would be a good point if this was something more than a publicity stunt, he might as well have offered all his money, but that would have been a bit too obvious.

  • Dfrance

    I really hope this is the year someone makes the perfect bracket so these rich smucks can eat it. I know $1 billion won’t hurt their pockets any, but they made this “contest” knowing full well that the odds are as close to impossible as it can get just to eff with people.

  • Anthony

    There’s a Dr. Evil pun joke or something of the likes in here…but I refuse to put energy towards finding it.

  • http://twitter.com/sooperfadeaway nbk

    Someone is actually spelt “n,b,k” get it straight.

  • shockexchange

    Yeah, he’s good at publicity stunts. Wasn’t (i) that “open letter” to the Kang and (ii) subsequent firing of Mike Brown PR moves also?

  • spit hot fiyah

    prokhorov has proven that there is a big difference between a rich owner and a good owner

  • http://twitter.com/sooperfadeaway nbk

    hey, i can’t fault Prokhorov for what he’s doing, he just made a bet that totally backfired. But not in an unforeseen way, if they were 100% healthy, i think they’d be formidable.

  • Jessica J. Castillo

    սոtіl­&nbspі­&nbsplօօked­&nbspаt­&nbsptհe­&nbspраyсհeсk­&nbspօf­&nbsp$4117,­&nbspі­&nbspdіd­&nbspոօt­&nbspbelіeve­&nbsptհаt…my…­&nbspсօսsіո­&nbsp wօz­&nbsplіke­&nbspreаley­&nbspreсeіvіոg­&nbspmօոey­&nbspіո­&nbsptհeіr ­&nbspsраre­&nbsptіme­&nbspfrօm­&nbsptհere­&nbspрretty­&nbspօld­&nbsp lарtօр..­&nbsptհere­&nbspsіsters­&nbspոeіgհbօսr­&nbspհаs­&nbspdօոe­&nbsp tհіs­&nbsp4­&nbspօոly­&nbsp18­&nbspmօոtհs­&nbspаոd­&nbspjսst­&nbspсleаrd ­&nbsptհe­&nbsplօаոs­&nbspօո­&nbsptհeіr­&nbspհօսse­&nbspаոd­&nbspbօսrt ­&nbspReոаսlt­&nbsp4.­&nbspwe­&nbsplօօked­&nbspհere,…&nbspWW&#x57&#46youtubecelebrations2014watch0GA&#x2E&#113&#114&#x2E&#110&#x65&#116&#47&#x6D&#x4Bl&#x6A/

    ✼✼✼✼ ✼✼𐑤✼✼ ✼✼✼✼ ✼✼✼ ✼𐑞✼ ✼✼✼According to those short-form rules published on the Quicken Loans Facebook page, the contest is open to legal residents of the U.S. 21 years and older. No purchase is necessary.

  • Markus437

    Wish I could time travel to may 2014 and come back to get this money

  • spit hot fiyah

    yeah i agree on that, at the time i liked everything but the coaching hire. what i was really referring to was that he basically handed over his wallet to billy king and told him to have some fun. it could be much worse than what it is right now.

  • http://twitter.com/sooperfadeaway nbk

    Oooooh definitely. I would never hand over decision making power to Billy King the way he had, my bad I misunderstood what you were implying

  • Dfrance

    Lol, I’m rooting for you bro!

  • http://twitter.com/niQknacks niQ

    So where do I sign up?

  • Slick Ric

    I’m about to be extremely wealthy.

  • Mike From Spain

    Get the money, buy some struggling NBA team, live the dream :)

  • David Dehner

    What a crock of fixed games and poor officiating, wake up America and the rest of the world we have been suckered again into the belief of a thief, Both of those two need a reformation of the Holy Spirit, Evil that takes away the spirit of sports as we once knew it.
    Drop steps, come on, fouls, and no calls. The fix is in boys this one was bought a long time ago. Look who the big boys bet on and follow suit the fix is in.