Quicken Loans' Billion Dollar Bracket Challenge: Warren Buffett wants to make it easier to win $1 billion next year [VIDEO]

Greg Archuleta
By Greg Archuleta ( @GeigaSr
on Mar 25, 2014 02:45 AM EDT
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It's not that Warren Buffett is dying to see someone win $1 billion, but he wants the contest to be more interesting. reported on Buffet's guest appearance on the Dan Patrick Show on Monday in which the DEO of Berkshire Hathaway told Patrick he thought Quicken Loans' Billion Dollar Bracket Challenge was, if not too hard, then at least lacking in drama after all 15 million entrants' brackets were wiped out in the first round.

"I would have preferred to see it go quite a bit longer," Buffett told Patrick. "Not all the way, but quite a bit longer."

Buffett insured the Quicken Loans contest. When Patrick asked him how much he made money off the promotion, he laughed and said, "Well, we had a few expenses, but we came out OK."

The last bracket to suffer a loss in the Billion Dollar Bracket Challenge was the 25th game of the 63-game NCAA Tournament, when Memphis defeated George Washington.

Buffett, however, sounded sincere when he told Patrick he was hoping that the contest would return in 2015 with less stringent rules on the contestants.

"I wouldn't have minded doing it (giving away the $1 billion)," Buffett said. "That's just part of the insurance business. It would not have bothered me to pay out the billion.

"I'd love to do it again. It's up to Quicken whether they decide to do it next year, and if they do it again, I'd like to be their insurer. I would hope we could get an arrangement that made it somewhat easier to enter and somewhat easier to win. I'd like to see it. I'd like to modify it a little bit so that people had an even better shot than they had this year."

Do you think Quicken Loans will go along with Warren Buffett's hopes of making the Billion Dollar Bracket Challenge easier next year? Comment and/or tell us @SportsWN.

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