Is Warren Buffet going to give an NCAA fan $1 billion?

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Warren Buffet: The people's billionaire.
Warren Buffet: The people's billionaire..

Warren Buffet is ready to offer a prize of $1 billion to any NCAA fan who fills out a perfect March Madness bracket, according to Rob Wile of Business Insider.

The popular billionaire's company, Berkshire Hathaway, has partnered with Cleveland Cavaliers owner and Quicken Loans founder Dan Gilbert to give fans of college basketball a once-in-a-lifetime opportunity of becoming a billionaire.

To win the prize, the task is simple: If you can fill out a flawless March Madness bracket, predicting the winners of every game, you will take home the $1 billion prize, which will be issued in 40 annual installments of $25 million.

But although seemingly a simple task, the odds of filling out a perfect bracket are pretty high. According to Bleacher Report, the chances of choosing every winner is one in 9.2 quintillion—a nine with 18 zeroes.

If someone does take home to jackpot, they'll have the option to forgo the installment plan and receive a lump sum of $500m instead. In the incredibly unlikely case that more than one person fills out the perfect bracket, the prize money will be split.

"It is our mission to create amazing experiences for our clients," Jay Farner, Quicken Loans president and chief marketing officer, told Bleacher Report. "This contest, with the possibility of creating a billionaire, definitely fits that bill."

If no one manages the outrageous feat then Quicken Loans will award $100,000 to each of the 20 closest brackets but will have to put the money towards buying, refinancing or remodeling a home.

The competition is only open to U.S citizens who are 21 or over. It is free to enter and begins of March 3.

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