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Billion dollar lottery in March

Topic closed. 44 replies. Last post 7 years ago by Masone.

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Will you fill out a bracket?

Yes [ 16 ]  [69.57%]
No [ 7 ]  [30.43%]
Total Valid Votes [ 23 ]  
Discarded Votes [ 1 ]  
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Thread Starter

United States
Member #124810
March 20, 2012
219 Posts
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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's avatar - alien on_computer.jpg

    United States
    Member #52343
    May 21, 2007
    3290 Posts
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    would be curious if anyone could pull it off Cheers

      BuyLow's avatar - fd725949c52faf3bef0a9e377747408d -iphone-wallpaper-palm-trees.jpg
      Florida
      United States
      Member #61433
      May 22, 2008
      1212 Posts
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      Thrifty will win cause he doesn't have to spend a dollar to win, lol.  Fingers crossed!!

        hearsetrax's avatar - alien on_computer.jpg

        United States
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        May 21, 2007
        3290 Posts
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        Thrifty will win cause he doesn't have to spend a dollar to win, lol.  Fingers crossed!!

        Green laugh

          LottoMetro's avatar - Lottery-024.jpg
          Happyland
          United States
          Member #146340
          September 1, 2013
          1146 Posts
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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's avatar - Lottery-015.jpg
            Nutley, New Jersey
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            August 1, 2012
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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?  LOL

            .

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              Thread Starter

              United States
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              March 20, 2012
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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?  LOL

              Lump sum baby.

                four4me's avatar - gate1
                MD
                United States
                Member #1701
                June 18, 2003
                9579 Posts
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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's avatar - dandy
                  100
                  u$a
                  United States
                  Member #106661
                  February 22, 2011
                  19967 Posts
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                  Same ole Warren Buffett Hit With Stick

                    whiteballz's avatar - Lottery-015.jpg
                    Nutley, New Jersey
                    United States
                    Member #131054
                    August 1, 2012
                    901 Posts
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                    Same ole Warren Buffett Hit With Stick

                    Omaha! Omaha! Omaha!

                    .

                      rdgrnr's avatar - walt
                      100
                      Way back up in them dadgum hills, son!
                      United States
                      Member #73902
                      April 28, 2009
                      14903 Posts
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                      Piece o' cake.

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                        United States
                        Member #149816
                        December 9, 2013
                        644 Posts
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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's avatar - batman14

                          United States
                          Member #121741
                          January 16, 2012
                          7683 Posts
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                          I may play this even though I know almost nothing about basketball.  I will take the $500 million lump sum.

                          Je vous salue, Marie, pleine de grace.  We will rebuild!

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                            United States
                            Member #125914
                            March 31, 2012
                            371 Posts
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                            So where can i sign up at?

                              sully16's avatar - sharan
                              25
                              Ringleader
                              Michigan
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                              October 28, 2009
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                              quad trillion to one odds good luck

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

                              Winter is coming !   Ned Stark.