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DETROIT -- 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.
Having said all of that, the contest is still worth your time. Quicken is going to hand out $100,000 to the top 20 most-accurate brackets. I mean, you’re going to fill out a bracket anyway – might as well register it for a bigger prize than your office pool.