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The $100 Million Bracket Contest

Wednesday, 18 Mar 2009 | 4:59 PM ET

Executives with a fledging Web site called Pickmanager.com have managed to break through the March Madness bracket clutter.

They're offering $100 million to anyone who can pick the perfect bracket.

"It's historically 100 times larger than the prizes you see out there," said Terry Dell of Dell Sports, which runs the site. "This is so ridiculously over the top that people feel like it's a free Powerball ticket."

Dell says the big prize has garnered the attention they wanted to bring to the site.

"Hundreds of people are entering every second," Dell said on Wednesday afternoon.

The bracket challenge is free, but Dell wants those that enter to consider playing the site's fantasy games for a one-time fee of $19.99. As for the odds of getting it all right? RJ Bell of Pregame.com says there are 9,223,372,036,854,775,808 different bracket possibilities.

That doesn't mean that Dell didn't have to pony up six figures for insurance, which is being provided by Emirat AG, a reinsurer for Lloyd's of London.

"I don't think it's impossible to get them all right," Dell said. "I've been doing bracket contests for five years and I've seen people get 57 games right."

The catch, if there is any, is how the prize is paid out. If someone, somehow, does beat the odds, they'll get paid $1,000,000 and then $25,000 a month for 50 years. In the year 2060, they'd get $84 million.

Questions? Comments? SportsBiz@cnbc.com

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