Warren Buffett Sweet 16 Challenge

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Warren Buffett's new March Madness pool offers $1 million a year for life - Warren Buffett offered a cool billion dollars as a March Madness pool prize in 2014 to anyone who picked a perfect bracket (odds: 1 in 9.2 quintillion), and after the challenge disappeared in 2015 Buffett announced he's revamping his NCAA tournament pool to make it slightly easier for Berkshire Hathaway employees become filthy rich.

Buffett revealed his new "Ultimate Office Bracket Contest" on CNBC Monday morning, which will pay the winner $100,000. In order to win, players have to pick the most consecutive winners during the tournament from the opening day. If a participant manages to stay perfect until the Sweet 16 (which means picking 48 winners over the first two rounds), they will receive $1 million per year for the rest of their life.

Buffett: Berkshire workers who get to Sweet 16 in company NCAA bracket challenge win $1M/year for rest of their lifehttps://t.co/MCOuy9Flfv

— CNBC Now (@CNBCnow) February 29, 2016
The contest is sadly only open to employees of Berkshire Hathaway and its subsidiaries, but you have a better chance of being eligible to play than you do of winning the grand prize. According to the Wall Street Journal, Berkshire Hathaway employs more than 360,000 people.

Someone is going to win $100,000, so that's nice, but the offer of $1 million a year is a very safe one. Of the more than 11 million brackets filled out on ESPN.com last year, only one was perfect after the first two days of the tournament, and it went down in the second round.