Warren Buffett Offering $1 Billion For Perfect NCAA Bracket

Winner could opt to have the prize paid out in annual payments over 25 years or take one payment of $500 million

Warren Buffett might be the epitome of the cautious investor, but he's betting $1 billion on this year's NCAA tournament.

Quicken Loans is offering a $1 billion prize to the basketball fan who submits the perfect NCAA bracket for this year's tournament. And the prize, if there is one, will be paid out by Warren Buffett's Berkshire Hathaway.