Your March Madness bracket could win you $1 million a year for life
The Oracle of Omaha is looking for the oracle of college hoops.
Billionaire Warren Buffett is offering a lifetime of riches to the employees of any of his companies if they can pick all the winners of the first two rounds of the upcoming NCAA Men's Basketball Tournament.
You May Also Like
The prize? A million dollars a year for the rest of the winner's life.
It's the second time that Buffett is involved in a March Madness-related payday.
In 2014, his insurance company Berkshire Hathaway insured a Quicken Loans competition that promised a cool $1 billion to anyone that picked the entire tournament perfectly.
Doesn't seem that hard, right? Well, the odds of doing that are roughly 1 in 9.2 quintillion.
So when March Madness started on March 17 last year, it took only five days for everyone to lose any chance at the riches.
Picking the first two rounds isn't much easier. If you assume your chances of picking any one game correctly are 50/50, the chances of pulling it off are about 1 in 281.5 trillion.
So, it's a little better, but hardly encouraging.
Buffett announced the contest on Monday morning during an appearance on CNBC.
While there's almost no chance that someone wins the big prize, Buffett is also putting up $100,000 for whomever picks the most correct games in a row.
Buffett, one of America's most famous investors, is also a big sports fan. He's not known to be a huge gambler (he prefers what is known as value investing, which looks for undervalued companies and invests in them for the long term), but he did win a cool $500 in 2014 when he bet on a Nebraska football game.
Have something to add to this story? Share it in the comments.
Jason Abbruzzese is a Business Reporter at Mashable. He covers the media and telecom industries with a particular focus on how the Internet is changing these markets and impacting consumers. Prior to working at Mashable, Jason served as Markets Reporter and Web Producer at the Financial Times. Jason holds a B.S. in Journalism from Boston University and an M.A. in International Affairs from Australian National University.
