Billion Dollar Prize Offered for Predicting NCAA Basketball Res - Los Angeles Local News | FOX 11 LA KTTV

Billion Dollar Prize Offered for Predicting NCAA Basketball Results

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(FOX 11/ AP) Correctly predicting the outcome of every game in the NCAA men's basketball tournament is no layup. There's now a $1 billion prize waiting for anyone able to pull off the feat this Spring.

Quicken Loans Inc. announced Tuesday that it will team with investor Warren Buffett's Omaha, Neb.-based Berkshire Hathaway on the "Billion Dollar Bracket Challenge."

The Detroit-based mortgage lender says any qualified entrant who correctly predicts the winners of every game in the tournament will be paid in 40 annual installments of $25 million. A winner also can elect to receive an immediate $500 million lump-sum payment or share in that payment if there's more than one perfect bracket submitted.

Submissions are limited to one per household.

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