Warren Buffett. (Flickr/Fortune Live Media)

Buffet's Berkshire Hathaway and Gilbert's Quicken Loans are pooling their resources to prepare for paying out prize money over the course of 40 years in annual installments of 25 million. 

The cash reward is not the first of its kind: in the past, million-dollar cash prizes were also offered to people able to predict the outcomes of upcoming NCAA tournaments as accurately as possible. 

Warren Buffet and Dan Gilbert's "Billion Dollar Bracket Challenge", however, outdoes its predecessors by demanding nothing short of a perfectly filled out NCAA tournament bracket. 

After all, if a relatively accurate NCAA bracket is worth millions of dollars, shouldn't a perfectly filled out bracket be worth a billion?

"We've seen a lot of contests offering a million dollars for putting together a good bracket, which got us thinking, what is the perfect bracket worth? We decided a billion dollars seems right for such an impressive feat," said Jay Farner, the President and Chief Marketing Officer of Quicken Loans.

Despite the allure of a lifetime supply of money, the chances of actually filling out a perfect bracket aren't that great. 

The odds of a perfect bracket this year amounts to the dream-crushing probability of 1 in 9.2 quintillion, according to DePaul math professor Jay Bergen. That's 18 zeroes after the 9.

For those who are unfazed, the contest begins on March 3rd. Get your pens ready.

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