I'm sure many of you are researching heavily trying to put together your winning bracket. Others are going to adopt a "Go By The Gut" approach.
Every year many sites sponsor a prize for the top bracket. This year is different. Quicken Loans, in conjunction with Warren Buffet, are offering a $1 billion prize (If you win, you can take $25 million a year for 40 years or a $500 million check right away) if you are able to put together a perfect bracket. That means one has to pick all 32 opening round games correct, all Sweet 16 games, the Elite 8, the Final Four, and the championship game - 63 games in all.
Is Buffett taking a risk?
The odds of putting together a perfect bracket are 1:9,223,372,036,854,775,808 (9 quintillion to 1). To win the $400 MegaMillions jackpot is just a mere 1 in about 258.9 million.
Most (if not all) brackets will be finished by 6 p.m. on Friday.
But, let's say the truly unlikely happens and one gets to the National Championship game with his/her perfect bracket intact?
Buffett says he isn't worried about individuals fixing the games.
However, if $500 million was on the line:
- How do you not hedge (i.e. if you pick MSU to win it all against Michigan) by placing a bet on Michigan just in case? Would your mortgage your house? What kind of loan could you possibly get to bet against your pick (just to be safe)? 1 million? 5 million? 10 million? More?
- Would you offer every player on Michigan several million dollars to throw the game?
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