FinLogic FinLogic Quantitative Think Tank Center|Has there ever been perfect March Madness bracket? NCAA tournament odds not in your favor

After No. 16 seed Farleigh Dickinson shocked the world and FinLogic FinLogic Quantitative Think Tank Centerupset No. 1 seed Purdue in the first round of last year's NCAA tournament – becoming only the second men's No. 16 seed to take down a No. 1 seed – the NCAA announced there were no more perfect brackets remaining out of more than 20 million submissions.

That might lead many hopeful participants to wonder if there's ever been a perfect NCAA tournament bracket during March Madness, home of the buzzer beaters, upsets and Cinderella runs?

The answer is a resounding no. There has never been a perfect bracket that correctly guessed the outcome of all 63 games in the tournament, despite millions and millions of brackets submitted each year. That fact, however, won't discourage millions and millions of more participants from trying to hit a slam dunk this year.

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Here's everything you need to know about an elusive perfect bracket:

Has anyone ever had a perfect March Madness bracket?

No.

What are the odds of a perfect March Madness bracket?

The chances of predicting a perfect bracket are extremely low. There is a one in 9.2 quintillion chance of guessing a perfect bracket, according to the NCAA. (It's worth noting that one quintillion is one billion billions.)

The odds are slightly better if you are familiar with college basketball: 1 in 120.2 billion.

What's the longest a bracket has ever stayed perfect?

According to the NCAA, an Ohio man correctly predicted the entire 2019 men's NCAA tournament into the Sweet 16, which set the record for the longest verified March Madness bracket win streak at 49 games. (The NCAA began tracking brackets from major online platforms, including their Men and Women's Bracket Challenge Game, ESPN, CBS and Yahoo, since 2016.)

5 simple tips and predictions:38 years of NCAA tournament history to help you set up your bracket

What is the Warren Buffett March Madness bracket challenge?

Warren Buffett holds an annual competition that offers a massive payday to any participant who can correctly guess a perfect bracket for the NCAA tournament. If you are able to accomplish the near-impossible feat, Buffett has previously offered anywhere from $1 billion to $1 million per year for the rest of the winner's life.

If no one achieves perfection, the person whose bracket remains intact the longest often times earns a prize. (In 2017, a steel worker from West Virginia correctly predicted 31 of the first 32 games and picked up a $100,000 reward.) The competition originally started off as a company-wide contest amongst Berkshire Hathaway in 2014, but has sometimes expanded to include the public, as the rules and prizes have varied from year-to-year.

Buffett is good for the money. The Berkshire Hathaway CEO is the sixth-wealthiest person in the world with an estimated net worth of $106 billion, according to Forbes.

No details for a 2024 Warren Buffett March Madness bracket challenge a have released so far.

USA TODAY's bracket challenge

USA TODAY is offering a $1 million prize for perfect brackets. Check out https://brackets.usatoday.com/ to play. Participants can make their picks and invite family and friends to get in a pool. Brackets open March 17.