“Want to make $1 billion the easy way?”
This is the spirit of Warren Buffett’s "Billion-Dollar Bracket Challenge," a contest pitting college basketball fans' knowledge against overwhelming statistical odds.
Put on by Warren Buffett’s company Berkshire Hathaway, in collaboration with Quicken Loans, the contest offers an award of $1 billion to any contestant who can fill out a perfect bracket for the 2014 NCAA men’s basketball tournament.
What is the likelihood of picking a perfect bracket? Well, the odds are not in your favor.
According to Chris Chase of USA Today, you have a one-in-9.2-quintillion chance of filling out a flawless NCAA tournament bracket.
Chase puts that giant number in perspective, explaining that contestants trying to make a perfect bracket would "have a better chance of hitting four holes-in-one in a single round of golf."
Regardless of the odds, the competition is free, meaning there’s no reason not to take a whack at perfection. According to PRNewsWire (h/t Yahoo Finance), Buffett believes you’d have to be Cro-Magnon not to fill out a bracket.
“While there is no simple path to success, it sure doesn’t get much easier than filling out a bracket online,” Buffett said. “To quote a commercial from one of my companies, I’d dare say it’s so easy to enter that even a caveman can do it.”
Eligibility rules state that all contestants must be 21 years of age and a U.S. citizen (sorry, Canada).
Will you fill out a bracket?
If you haven’t signed up yet, there’s still time. Buffett and Quicken Loans recently announced they have expanded the pool of entries to 15 million brackets to offer more people a shot at their $1 billion.
Quicken Loans has also tapped Yahoo Sports as the host site of the contest. You can go to QuickenLoansBracket.com to fill out your bracket.
Further, the 20 highest-scoring imperfect brackets will receive $100,000 each, so Buffett is dealing out at least $2 million. According to Forbes, the 83-year-old is worth $58.2 billion, ranking him No. 2 in the U.S. (behind only Bill Gates at $76 billion).
With that said, get to it, everyone. That bracket isn’t going to fill itself out, just like those Lamborghinis won’t park themselves in your driveway.
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