“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).
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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