Billion dollar lottery in MarchPrev TopicNext Topic

• Masone

  

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  Jan 22, 2014, 5:29 pm

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  http://www.forbes.com/sites/kellyphillipserb/2014/01/21/warren-buffett-offers-1-billion-for-perfect-march-madness-bracket/

  Today, Warren Buffett had tongues wagging about basketball. The billionaire, who ranks 4th on Forbes list of top billionaires, with an estimated worth of $53 billion, wants to make you an offer: he’ll give you $1 billion for a perfect March Madness bracket.

  Nope, that’s not a typo.

  Buffett, together with his company, Berkshire Hathaway, are offering $1 billion to any person who can correctly pick the winners of all 63 games in this year’s NCAA men’s college basketball tournament. Buffett and Berkshire Hathaway are partnering with Quicken Loans, owned by fellow billionaire Cleveland Cavaliers owner Dan Gilbert, to offer the ‘Quicken Loans Billion Dollar Bracket.’ Gilbert is listed at #384 of Forbes’ list of billionaires with an estimated net worth of $3.9 billion.
  
  The odds of winning are said to be one in 4,294,967,296.
  
  Chances are terrible, but terrible odds have never stopped any of us from playing the jackpot games lol. And it's free to play too, even better!
• hearsetrax

  

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  Jan 22, 2014, 5:39 pm

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  would be curious if anyone could pull it off

  
• BuyLow

  

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  Jan 22, 2014, 5:52 pm

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  Thrifty will win cause he doesn't have to spend a dollar to win, lol.  Fingers crossed!!
• hearsetrax

  

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  Jan 22, 2014, 6:06 pm

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  In response to BuyLow

  Quote: Originally posted by BuyLow on Jan 22, 2014

  Thrifty will win cause he doesn't have to spend a dollar to win, lol.  Fingers crossed!!

  

  
• LottoMetro

  

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  Jan 22, 2014, 6:10 pm

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  Can't beat free, so I yes will be particpating. The prize is $25 million over 40 years, but they are offering the option of $500 million lump sum. They are also going to have 20 runner up prizes of $100,000 towards a house.

  The article is inaccurate. The odds of winning when each team is given equal (50/50) chance of winning are 1 in 2⁶³

  That's quintillions. Depending on the picker, the actual odds are much better, but still in the billions/trillions.

  If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
  If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

  P&L % = Total Win($)/Total Wager($) - 1
• whiteballz

  

  Nutley, New Jersey
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  Jan 22, 2014, 6:26 pm

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  "The $1 billion will be paid in 40 annual installments of $25 million. Or if you don’t want to wait around that long, you can claim a lump sum payment of just half: $500 million."

   

  so I guess the big question that needs to be answered is: are you going to take the annuity or lump sum? 

  .
• Masone

  

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  Jan 22, 2014, 6:41 pm

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  In response to whiteballz

  Quote: Originally posted by whiteballz on Jan 22, 2014

  "The $1 billion will be paid in 40 annual installments of $25 million. Or if you don’t want to wait around that long, you can claim a lump sum payment of just half: $500 million."

   

  so I guess the big question that needs to be answered is: are you going to take the annuity or lump sum? 

  Lump sum baby.
• four4me

  

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  Jan 22, 2014, 6:45 pm

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  quad trillion to one odds good luck

  Big John says. You don't hit the number. The number hits you!!!!

                 I'm not Big John, I'm Four4me, Big John's a friend.
• helpmewin

  

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  Jan 22, 2014, 6:53 pm

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  Same ole Warren Buffett
• whiteballz

  

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  Jan 22, 2014, 6:59 pm

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  In response to helpmewin

  Quote: Originally posted by helpmewin on Jan 22, 2014

  Same ole Warren Buffett

  Omaha! Omaha! Omaha!

  .
• rdgrnr

  

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  The Hall Of The Mountain Kings Tennessee
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  Jan 22, 2014, 7:05 pm

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  Piece o' cake.
• Shelby Mustang

  

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  Jan 22, 2014, 7:48 pm

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  Probably not. I root for Carolina every year and when they get kicked out of it I could care less then
• Artist77

  

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  Jan 22, 2014, 7:59 pm

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  I may play this even though I know almost nothing about basketball.  I will take the $500 million lump sum.

  
• tony869

  

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  Jan 22, 2014, 8:13 pm

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  So where can i sign up at?
• sully16

  

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  Ringleader

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  Jan 22, 2014, 8:17 pm

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  In response to four4me

  Quote: Originally posted by four4me on Jan 22, 2014

  quad trillion to one odds good luck

  Well said, I would sit that one out, free or not.