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Old 01-22-2014, 03:10 PM   #1 (permalink)
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Warren Buffett offers 1 BILLION dollars for perfect bracket

Here is a good reason for you Euros to become interested in an American sport...or 1 billion reasons to become interested.

http://www.parade.com/255536/erinhil...dness-bracket/
Quote:
Submissions will be limited to one per household and capped at 10 million entrants. The winner will have the option of taking 40 annual payments of $25 million or a lump sum of $500 million. Multiple winners would split the money. Quicken will also award $100,000 to the contest’s 20 most accurate brackets to use toward buying, refinancing, or remodeling a home. The official rules will be available on the Billion Dollar Bracket Challenge website when it is activated for registration on March 3.

“This will be the most fun. Just imagine if there’s one person left at the last game,” Buffett, 83, said Tuesday. “I will go to that final game with him or her and I’ll have a check in my pocket…. I think we’ll be rooting for different teams.”

What are your chances of winning a cool billion? About one in 4,294,967,296.
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Old 01-22-2014, 04:50 PM   #2 (permalink)
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Hard to top this one. Learned a lot from reading his books.
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Old 01-22-2014, 04:58 PM   #3 (permalink)
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Originally Posted by No_Mercy View Post
Hard to top this one. Learned a lot from reading his books.
It's a pretty safe bet, this will likely never be done. The man is 83 years old...can't take the money with him.
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Old 01-22-2014, 05:09 PM   #4 (permalink)
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Here's another article I just researched.

I think we should all do this and split it equitably to anyone on here even though it's a 1 and 4.3 billion chance.

Quote:
Now this is a sports bet.
Berkshire Hathaway, the company owned by Warren Buffett, will pay $1 billion to the person who correctly predicts the winner of every game during March Madness. In exchange for his promise to pay up, Quicken Loans is paying Buffett a premium that neither man would disclose. (“Dan would say it’s too much, I would say it’s too little,” Buffett said.)
“This will be the most fun. Just imagine if there’s one person left at the last game,” Buffett said Tuesday. “I will go to that final game with him or her and I’ll have a check in my pocket…. I think we’ll be rooting for different teams.”
Buffett said he pitched the idea of insuring a perfect bracket to Dan Gilbert, the Quicken founder and Cleveland Cavaliers owner, last fall and the contest was announced Tuesday. It opens March 3 to the first 10 million households that sign up online. The winner can take 40 annual payments or a $500 million lump sum. Multiple winners would split the dough. In addition, Quicken will offer $100,000 each to the 20 most accurate brackets, to be used for buying, refinancing or remodeling a home. Quicken will run the contest and Berkshire Hathaway will provide security.
Good luck. If it seems like a good idea to bet against the Oracle of Omaha — and we aren’t talking Peyton Manning here – think again. He didn’t amass $1 billion 58 times (according to Forbes) by being a patsy. He certainly wasn’t in 2003, when he backed a Pepsi-sponsored $1-billion contest involving numbers inside bottle caps. A monkey drew the final numbers and … there was no winner. Despite those “you may already be a winner” envelopes and Lloyd Christmas’s philosophy of “So you’re telling me there’s a chance,” there really is virtually no shot. Unlike Woody Grant, you’re not even going to get a “Prize Winner” cap. The contest rules for the Billion Dollar Bracket Challenge note that the odds of winning 1 in 4,294,967,296.

Not that he will, but Buffett is prepared to pony up the kale. “We’ve lost more money in a given event before,” Buffett said. “Hurricane Katrina probably cost us $3 billion. We will put more at risk in a given insurance transaction than anyone in the world. But we have more capital than anyone in the world.”

http://www.washingtonpost.com/blogs/...dness-bracket/
EDIT 1: Good lord. Look at the list. Where do we begin!

http://espn.go.com/mens-college-basketball/teams

EDIT 2: I just realized they not only capped it to 10 million contestants, but they figured even if one entity submitted 10 million random brackets it's still a long shot. It's all mathematics. All the sports bettors would be tallying the records, history, but as we all know there's ALWAYS upsets along the way.

I wonder how many combinations there are. Actually it's on the video. The odds of getting a perfect bracket. 9,223,372,036,854,775,808

If you're an analyst chances are 128,000,000,000.

ROFLZ!
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Last edited by No_Mercy : 01-22-2014 at 05:23 PM.
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