HOUSTON - MARCH 28: Detail of basketballs before the third round game of the South Regional between the Stanford Cardinal and the Texas Longhorns as part of 2008 NCAA Men's Basketball Tournament at Reliant Stadium on March 28, 2008 in Houston, Texas. (Photo by Ronald Martinez/Getty Images)
DETROIT (AP) -- 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.