It’s not too late folks. As many of you know March madness is upon us. This year, Warren Buffett’s $1 Billion Basketball Challenge has asked folks to complete their brackets and if done 100% correctly have a chance to win $1 Billion. Yes, a billion dollars. The Oracle of Omaha dreamed up the idea to give $1 billion to any person who can correctly pick the winners of all 63 games in this year’s NCAA men’s college basketball tournament.
The official name of the challenge is the Quicken Loans Billion Dollar Bracket with Yahoo Sports. The tournament is only hours away so you still have time to take out that keyboard and whip up some crazy bracket picks for the 63 games that are upon us. Buffet joked about his own contest referencing one of Bershire’s companies Geico by saying “In fact, it’s so simple” when talking about how easy the sign up (and free) the process is.
Also, be sure to read the rules. While the odds of winning have been estimated are to be one in 4,294,967,296 or one in 9,223,372,036,854,775,808, there’s still a chance and that’s all the matters right?
In case you’re wondering, the $1 Billion that goes to the winner will be payable over the course of 25 years. So that’s $25 Million a year. Not bad for picking out a perfect bracket. If you win and wanted a lump some all at once, you can get a $500 million payment. Yes, taxes still apply. Still though, something that’s free to sign up for?
We’re pretty sure the winner will get instant fame and we’ll be sure to announce them (hopefully it’s us) before they head off to be featured on Letterman. How amazing would be it be hand over a 1099 to the IRS that says you earned $1 Billion? Sure you can take my money Uncle Sam!
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