Warren Buffett and Quicken Loans insure $1B prize for perfect ‘March Madness’ bracket

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Quicken Loans is teaming up with Warren Buffett to insure a $1 billion grand prize for those who predict all 68 winners of this year’s NCAA men’s basketball year-end tournament, commonly referred to as “March Madness.”

The winnings will be evenly split among those “qualified” contest entrants, if any, who pick perfect brackets in the contest that runs from March 3-19. Winners have the option to receive 40 annual payments of $25 million or one lump payment of $500 million.

In addition, Quicken Loans will award $100,000 to the owners of each of the 20 most accurate “imperfect” brackets in the contest that can be used toward buying, refinancing or remodeling a home.

“While there is no simple path to success, it sure doesn’t get much easier than filling out a bracket online,” Buffett said in a statement.

“The Wizard of Omaha” entered the real estate franchise business this year with the launch of the Berkshire Hathaway HomeServices brand.

Source: Quicken Loans

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