March Madness is set to begin tomorrow, and there’s plenty of buzz around players like Creighton’s Doug McDermott, Duke’s Jabari Parker and Andrew Wiggins of Kansas. But all everyone seems to be talking about is the Quicken Loans Billion Dollar Bracket which is insured by Warren Buffet. Buffet has been making the rounds on television, as has Dan Gilbert, the billionaire founder of Quicken Loans and owner of the Cleveland Cavaliers.
Now Nate Silver is chiming in as he he launches his FiveThirtyEight blog on ESPN. Silver calculated that you would have roughly a one in 7.4 billion chance to win. So basically you have no chance, but I decided to fill one out anyways. Why not? I haven’t filled out a bracket for years, but this promo was just interesting enough to get me to try it.
March Madness has become an institution and filling out brackets an annual ritual. Of course that’s just the beginning as places like Las Vegas will be a zoo this weekend with all the first round games. Around the world it doesn’t quite measure up to events like the World Cup which will have bettors going crazy in every part of the planet, from Canada down to South Africa betting houses. People for that one will be checking every betting site and wiki to find information. That’s what’s going on here this week for March Madness. College hoops gets some attention, but not a ton during the regular season. Then everyone tries to become an expert over a couple of days as they start filling out their bracket.
Of course, your girlfriend who sticks with the favorites and then some of her favorite teams can probably do just as well as you given all the luck that’s involved.
I like to go with my own teams as well. Why not pick teams you like? Winning a bracket pool with lots of people is practically impossible. Of course, in office pools, you do have a real chance to win, or at least get some bragging rights for doing well, so I guess there some research is in order.
But with the Buffett bracket, I blew through it quickly and picked teams I liked. I have just as good a chance as anyone – one in 7.4 billion!