Local News
March Madness Brackets Busted: Billion-Dollar Prize Still in Play
The odds of a perfect NCAA Tournament bracket are low, with millions of brackets already busted. Kalshi is offering a $1 billion prize for a flawless bracket, and a $1 million consolation prize for the top scorer.
The challenge of creating a flawless NCAA Tournament bracket is highlighted by the rapid decline in perfect entries. By Friday afternoon, ESPN's bracket challenge saw unblemished entries drop to below 4,500. Despite early, predictable results with Kentucky and Virginia winning, over nine per cent of the 26 million-plus brackets were already incorrect. The women's bracket challenge on ESPN fared slightly better initially, with four million perfect brackets after the early games. Kalshi, a prediction market leader, is offering a grand prize of $1 billion to anyone who correctly predicts all 63 tournament games. Kalshi will also award a $1 million consolation prize to the person with the highest-scoring bracket.
Key Facts
- The odds of achieving a perfect bracket in the NCAA Tournament are extremely low.
- ESPN's bracket challenge saw perfect entries fall to under 4,500 by Friday afternoon.
- Over nine per cent of more than 26 million brackets entered on ESPN were busted early.
- Kalshi is offering $1 billion to anyone who correctly predicts all 63 tournament games.
- Kalshi will award $1 million to the person with the highest-scoring bracket.
- The odds of a perfect bracket are estimated between one in 120 billion and one in 9.2 quintillion.
- Eighty-three people were still in contention for the billion-dollar prize as of Friday.
Primary Source
Research Sources
- Winnipeg Free Press — Number of perfect March Madness brackets dwindles to a precious few in Day 2