Here’s an easy way to become a billionaire overnight: send in perfect bracket for the NCAA March Madness in 2014 and win a $1 billion prize!

That’s is the offer of Warren Buffet of Berkshire Hathaway and Dan Gilbert of Quicken Loans Arena as both parties are partnering in giving away the huge cash prize, according to Yahoo Finance and Business Insider articles.

"It is our mission to create amazing experiences for our clients. This contest, with the possibility of creating a billionaire, definitely fits that bill," said Jay Farner, president and chief marketing officer of Quicken Loans.

"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."

The NCAA Tournament March Madness bracket contest is one of the most popular sports contests in the United States of America and has also attracted hoops fans from all over the world.

The process is fairly simple: fans predict the winners of the NCAA March Madness tournament by filling up “brackets” either printed or online. The participant who nets the most points—or basically, who has the most corrects predictions—wins the contest.

In the case of Buffet and Gilbert’s contest, any participant who predicts every match-up perfectly will net the billion dollars.

While joining the contest may be simple, winning the billion dollars is a very tough task: the odds of filling out a perfect bracket is at 1:9.2 quintillion (or 9,223,372,036,854,775,808).

Still, there is zero reason why hoop addicts should not join the contest. First, the contest will also award $100,000 each to the top 20 participants who will send in the most accurate brackets.

Second, and most importantly, it’s a free endeavor; a zero dollar investment turning into a billion is always good value.

2014 NCAA March Madness tips off March 18.