March Madness bracket could shell out $1 billion - kotanow.com- Scottsbluff Area News, Sports, and Weather

March Madness bracket could shell out $1 billion

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It's still January but basketball sports fans are already talking about March Madness all thanks to financial guru Warren Buffet.

Buffet's company, Berkshire Hathaway Inc., proposed giving one billion dollars to the person whoever picks all 64 teams correctly in the NCAA bracket tournament this year.

The prize is being offered by Quicken Loans Inc.

Money would be given out in 40 annual payments of $25 million or a lump–sum of $500,000 after taxes.

Sometimes it pays to be imperfect though. Buffet says 20 runner–up winners would be given $100,000 for a nearly perfect bracket.

Some residents in Scottsbluff said if they won the top prize they would work on getting a pilot license or give one million dollars to runner–ups.

"That would be pretty cool," said Brittany Scadlock, student at Western Nebraska Community College. "Yea I think I'd definitely travel and see whoever I could help and stuff. Do service."

"I'd probably drop out of school for a couple of years," said Kelly Zitterkopf, WNCC first-year student. "I'd probably keep working somewhere so I wouldn't get too full of myself."

Experts say people have about a one in 128 billion chance of winning.

Free registration for the Quicken Loans tournament starts March 3 and will run until March 19.

 

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