(Bloomberg) — It took less than two full days of play for Warren Buffett to win his bet that no entrant in a Quicken Loans Inc. contest would predict the winner of each game in the three-week-long National Collegiate Athletic Association men's basketball tournament.
Had someone been successful, his Berkshire Hathaway Inc. would have been responsible for paying a $1 billion prize as part of an insurance policy it sold to the lender.
Two upsets — Dayton's defeat of Ohio State two days ago, and Mercer's win yesterday against Duke — wiped out 99 percent of the entries. When Memphis defeated George Washington last night, the last of the perfect brackets was busted.
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