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Warren buffett will give you $1 billion! (5)

01-21-2014 03:08 PM #1 cmdeal (Veteran Member)
Warren buffett will give you $1 billion!

Warren Buffett Will Give You $1 Billion If You Fill Out A Perfect 'March Madness' Bracket

ROB WILE
JAN. 21, 2014

http://www.businessinsider.com/warre...#ixzz2r38oiQaC

Warren Buffett's Berkshire Hathaway and Dan Gilbert's Quicken Loans are partnering to award anyone who fills out a perfect 2014 Men's NCAA Tournament bracket with $1 billion.

The prize will be paid out in 40 annual installments of $25 million. If there's more than one winner they'll have to share. The winner or winners can also take or split up 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."

In addition to the grand prize, 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. Quicken will also donate $1 million to inner-city Detroit and Cleveland non-profit organizations. Quicken is based in Detroit, but Gilbert owns the Cleveland Cavaliers and the city's Horseshoe Casino.

The odds are not ideal — a 1 in 9.2 quintillion chance.

But it costs nothing to fill out so you should probably do it. The contest starts March 3rd. "March Madness" kicks off March 18.

01-21-2014 08:51 PM #2 _mcr_ (Moderator)

My initial thought was that I could create a bot that will create all possible entries and be guaranteed to win, but it's limited to 10 million entries and one entry per household.

The odds of anyone winning are extremely tiny, and Quicken will make a killing by capturing data from entries and using it for marketing purposes. Yet another case of taxing people who are poor at math.

01-23-2014 06:57 AM #3 cmdeal (Veteran Member)

Quote Originally Posted by _mcr_ View Post
My initial thought was that I could create a bot that will create all possible entries and be guaranteed to win, but it's limited to 10 million entries and one entry per household.

The odds of anyone winning are extremely tiny, and Quicken will make a killing by capturing data from entries and using it for marketing purposes. Yet another case of taxing people who are poor at math.
You are thinking about this the wrong way.

New math:

63 games
3 refs per game
63 * 3 = 189 bribes that need to be paid
$1,000,000 per bribe, payable over 40 years

$189 million in expenses, $1000 million in income

That's over a 500% return on investment. Sign me up.

01-23-2014 12:16 PM #4 Finch (Moderator)

Quote Originally Posted by cmdeal View Post
You are thinking about this the wrong way.

New math:

63 games
3 refs per game
63 * 3 = 189 bribes that need to be paid
$1,000,000 per bribe, payable over 40 years

$189 million in expenses, $1000 million in income

That's over a 500% return on investment. Sign me up.
Unless 10 people from this forum get the same idea and you have to share your earnings ten-ways.

$189 million in expenses, $100 million in income.

Doh!

01-23-2014 02:23 PM #5 cmdeal (Veteran Member)

Quote Originally Posted by Finch View Post
Unless 10 people from this forum get the same idea and you have to share your earnings ten-ways.

$189 million in expenses, $100 million in income.

Doh!
Crap.

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