Call it the office pool to end all office pools.
Quicken Loans and investment firm Berkshire Hathaway are teaming up to offer a $1 billion prize to anyone who can correctly call the winners of every single game in this year’s NCAA March Madness men’s college basketball tournament.
Since the odds of anyone calling all 63 games correctly appear to be vanishingly small, the companies are also offering to split $2 million among the 20 most accurate predictions submitted for the contest.
Quicken says it will also donate $1 million to educational charities in Detroit and Cleveland, the two cities that are the main focus of Quicken founder and Chairman Dan Gilbert’s activities.
“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? We decided a billion dollars seems right for such an impressive feat,” said Jay Farner, president and chief marketing officer of Quicken Loans.
Any qualified entrant who correctly enters the contest and predicts the winners of every game in the tournament will share the total $1 billion prize paid in 40 annual installments of $25 million dollars. Alternatively, the winner may elect to receive an immediate $500 million lump sum payment or share in that lump sum payment if there is more than one winner.
Free registration for the ‘Quicken Loans Billion Dollar Bracket’ will begin on Monday, March 3, and runs through Wednesday, March 19. All participants registering prior to the tournament selection process will receive their brackets the evening of Sunday, March 16, when entrants can begin filling out their bracket.
To be eligible for the $1 billion grand prize, entrants must be 21 years of age, a U.S. citizen and one of the first 10 million to register for the contest. Submissions will be limited to a total of one per household.
All qualified entrants are eligible for the 20 awards of $100,000 for selecting the competition’s top 20 most accurate “imperfect” brackets.
Click HERE for the full article!