Audio Script
Feeling lucky? The odds behind a picking a perfect NCAA bracket
March 16, 2016ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ Mark Ablowitz
For the millions out there readying to fill out their 2016 NCAA basketball tournament brackets for your office pools in hopes of picking every winner, good luck. Youβll need it.
What are the odds of filling out a perfect NCAA Tournament bracket, picking all 63 games correctly? According to ΒιΆΉΣ°ΤΊ Professor Mark Ablowitz, former chair of the Department of Applied Mathematics, they are breathtaking.
CUT 1 βItβs very, very large - 10 to the 18th. Itβd be very unlikely that people could do it on a random basis of choosing like a coin toss because you take factors of one-half to a very large power. (:17) And when you get up to very large numbers like in the 30s and 40s and higher then numbers get out of hand quickly.β (:28)
Thatβs about 1 in 9.2 quintillion, or 1 in 9,223,000,000,000,000,000 for someone picking winners of each game randomly, like a coin flip, says Ablowitz, noting anyone with some knowledge of college basketball can up their odds a bit.
CUT 2 βThatβs an enormous number and itβs very, very poor odds. To get all 63 I think you should be content if you can get well more than two-thirds. (:11) And you could look at odds makers and take a few that have done a good job in the past and average the results and I think you would improve yourself but still getting all 60 some odd teams would be very hard.β (:25)
There are other NCAA tournament bets with somewhat better odds, says Ablowitz, like waiting to pick the winner of the final eight teams, the odds are 1 in just 128 if selected randomly.
CUT 3 βThen itβs much more reasonable - one in a hundred and some. And thatβs when, I think, you could really help yourself by looking at odds makers.β (:12)
The odds are so infinitesimal that Warren Buffetβs $1 billion offer in 2015 for anyone on Earth filling out a perfect NCAA bracket went unclaimed. And while he not offering $1 billion this year he is offering to his Berkshire Hathaway employees $1 million every year, for life if βhe or she predicts the Sweet Sixteen round perfectly.β
CUT 4 βDoes he still have his million-dollar prize available? Itβs very unlikely heβs going to have to pay out. (:07)
According to a 2015 report by the global job search company, Challenger, Gray & Christmas, Inc., U.S. employers lose about $1.9 billion in wages during March Madness because of distracted basketball buffs. The American Gaming Association recently estimated that roughly 70 million people participate in NCAA tournament office pools. Μύ
-CU-