Billionaire investor Warren Buffet is the one actually betting the $1 billion. Buffett's company Berkshire Hathaway will pay out the prize if there's a winner.
And that's a pretty big **if**. That's because the odds of winning are even greater than winning the lottery. There are more than 9 quintillion possible ways to fill out the 64 team bracket. But Buffett says there's no way to accurately calculate the actual odds of the perfect bracket.
Quicken Loan will also pay out $100,000 to 20 contestants who score the best in the brackets. So, there's hope yet for a victory!