Saturday, March 22, 2014

Buffett Wins: $1Billion NCAA Bracket Contest Has No Winner

By late Friday, none of the 8.7 million entrants in the Quicken Loan March Madness NCAA bracket contest, which was insured for payment by Warren Buffett, were still in the running to win the $1 billion NCAA basketball challenge.

Thus, whatever fee Buffett received for insuring the challenge, or more correctly Buffett's firm Berkshire Hathaway insured the challenge payout, the fee can now be pocketed and Buffet can do whatever he wants with the money---since he won't be making any payout.

ABC News previously reported, the odds of guessing a perfect bracket were estimated by one mathematician to be 1 in 128 billion (and that’s if you know something about basketball). In the same YouTube video, DePaul University's Jeff Bergen explained that there were more than 9 quintillion ways to fill in a bracket.

1 comment:

  1. According to the yahoo sports website that hosted the contest, there is still a perfect bracket in play...brad's breathtaking bracket