Fans of college basketball that were hoping to become wealthy through the $1 billion bracket challenge will need to change their plans this year.
According to Ben Rooney of CNN Money, the competition created by Quicken Loans, Yahoo and Warren Buffett is now dead and buried. Rooney has reported that the challenge has come to an end due to series of lawsuits filed by all of the parties involved.
Aaron Emerson from Quicken Loans released a statement via Yahoo Finance to Javier Hasse that reads: “Instead of repeating the bracket contest, we are now turning our attention to something new and innovative that will carry on our heritage of launching unexpected and engaging events that will take the nation by storm again.”
The real truth is that nobody really had a serious chance to win the challenge that took place in 2014. A mathematician from DePaul spoke with Rick Hampson of USA Today and estimated that the odds of correctly picking all 63 tournament games in the NCAA bracket were 9,223,372,036,854,775,808 to 1.
In March of last year Warren Buffett voiced a want to hold the contest again this year, and he was even hoping to make it easier to navigate winning the prize. In a Dan Patrick Show interview, the Oracle of Omaha had this to say:
“I’d like to modify it a little bit so people have an even better shot to win it then they had this year. Wait until next year though. I think we’re going to come up with something better next year. We’ll make it a lot easier to enter. There were some questions that were a little tough, I thought. We’ll make it easier to win but I think we’ll have an exciting prize.”
It’s a little bit disappointing to find out that the $1 billion dollar challenge is eliminated this year, but it’s not going to dampen the spirits of anyone excited about the big tournament and its outcome.