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Warren Buffett/Quicken Loans offer $1 billion prize for perfect bracket

WinkinDeac

WinkinDeac

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http://www.sacred-texts.com/nam/cher/motc/motc001.htm

DETROIT, Jan. 21, 2014 /PRNewswire/ -- Detroit-based Quicken Loans, the nation's fourth largest mortgage lender, has joined forces with Warren Buffett and Berkshire Hathaway to offer a chance at a $1 billion prize for completing the perfect bracket in this March's men's college basketball championship tournament.

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. Alternatively, the winner(s) may elect to receive an immediate $500 million lump sum payment or share in that lump sum payment if there is more than one perfect bracket submitted.

USA Today article from last year indicates long odds to do so:

http://www.usatoday.com/story/gameo...ent-perfect-bracket-odds-quintillion/1999795/
 
Buffett/Berkshire are just insuring against the $1bn payout, since the odds are so small of it occurring. Easy $ for Buffett
 
Yah buffett owns a bunch or reinsurance firms
 
Perfect March Madness bracket worth $1,000.000.000

The insurance policy is being paid for by Quicken Loans and Warren Buffett. I wonder what the premium is? It could easily be under $100,000.

Go at it guys and ladies.
 
Also, the odds are one in 9.2 Quintillion. 9,200,000,000,000,000,000:1. So I doubt the premium is even close to $100,000. Even if you adjust for basketball knowledge/trends, the odds are around one in 128 billion.

Oh and Haas tweeted this already.
 
Tin Cup said:
Buffett/Berkshire are just insuring against the $1bn payout, since the odds are so small of it occurring. Easy $ for Buffett
Click to expand...

Shouldn't take much "coin" to reinsure this. A perspon can't enter but one time per household. So you can't overload it like someone trying to buy all the combinations to a lottery, which is what you would have to do for the NCAA Tourney. Trying to get the correct 15 seeds that win and how far certain high seeds advance is tough. Good for flash, but very long odds!
 
well that's fuckin cray. defs these odds are better than powerball cause of knowledge And you can study teams i got this
 
Should I take the lump sum 500 mil or settle for the measly 25 mil a year for 40 years?


That's my only question.
 
I think I figured out a way to game the system. All I have to do is submit a separate bracket for all the different possible game outcomes. So, on one bracket I'll have Ohio State beating Oregon, but in the OTHER bracket I'll have Oregon beating Ohio State. Just do that for all the games and you are assured a perfect bracket. It's too easy. Warren Buffett, you FOOL. You know how some people have houseboats, and they live on the houseboat out in the water and just move around from place to place? With my billion dollars, I'm going to buy a house hovercraft. You can do the same thing as the houseboat, except it will also go over land. So that way I can go where I want and live where I want instead of just being confined to land or sea. Man was not meant to live in a cage, and this billion dollars is my key to freedom.
 
deacvision7 said:
Should I take the lump sum 500 mil or settle for the measly 25 mil a year for 40 years?

That's my only question.
Click to expand...

Take the lump, after Buffett kicks the bucket who knows where the money and Berkshire goes, could default.
 
deacvision7 said:
Should I take the lump sum 500 mil or settle for the measly 25 mil a year for 40 years?


That's my only question.
Click to expand...

Always take the lump. Only financial idiots take the yearly payout when they play the lottery.
 
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