Mandatory Credit: Bob Donnan-USA TODAY Sports

March Madness: Quicken Loans is offering $1 billion to a person who fills out a perfect bracket


Ever do a bracket with your friends and put some money on it as a friendly wager? Well, Quicken Loans just raised the bar offering $1 billion for a perfect bracket which will be paid out at $25 million a year over 40 years. The bad news is that if more than one person wins some how, they’ll have to share. If you don’t think you can live on $25 million a year for the next 40 years, you have the option to take an immediate $500 million lump sum payment.

 

“It is our mission to create amazing experiences for our clients. This contest, with the possibility of creating a billionaire, definitely fits that bill,” Jay Farner, President and Chief Marketing Officer of Quicken Loans said in a statement. He added: “We’ve seen a lot of contests offering a million dollars for putting together a good bracket, which got us thinking, what is the perfect bracket worth? We decided a billion dollars seems right for such an impressive feat.”

Of course the odds are ridiculous, a 1 in 9.2 quintillion chance. But seeing how crazy people get when the lottery gets to over $300 million this will certainly cause a stir. Other restrictions include one bracket per household and a cap of 10 million entrants.

If you don’t have the perfect bracket there is still hope, Quicken will award $100,000 each to the contest’s 20 most accurate ‘imperfect’ brackets submitted by qualified entrants in the contest to use toward buying, refinancing or remodeling a home.

Tags: March Madness