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Billionaire Buffett backs bracket challenge

Do you think you know college basketball? Warren Buffett is putting his money where his mouth is. Quicken Loans is offering a $1 billion prize for the basketball fan who submits the perfect bracket for this year’s tournament.
Syracuse (WSYR-TV) – Do you think you know college basketball? Warren Buffett is putting his money where his mouth is.

Quicken Loans is offering a $1 billion prize for the basketball fan who submits the perfect bracket for this year’s tournament.

Buffet is the one actually betting the money – his company, Berkshire Hathaway, will pay out the prize.

The odds of completing a randomly assembled NCAA tournament bracket perfectly are greater than wining Megamillions as the Powerball’s top prize.

Math and science website OrgTheory.net says there are more than nine quintillion possible ways to fill out the 64-team bracket.

But Buffett says that since the winners in the tournament aren’t random, there’s really no way to accurately calculate the actual odds of the perfect bracket.

Quicken will also pay out $100,000 to 20 contestants who score the best in the brackets.

Participants can sign up on March 3, but won’t be able to submit their brackets until March 16.

The deadline for entry will be March 19.

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