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Grand Prize: The grand prize ("Grand Prize") will consist of one billion dollars ($1,000,000,000) USD, payable over the course of forty (40) years in forty (40) equal annual installments of $25 million ("Annual Payment Option"). The Grand Prize Winner has the option, in the Grand Prize Winner's sole discretion, to elect to receive a one-time payment of $500 million ("One-Time Payment Option") instead of the 40 equal annual installments of $25 million. THE GRAND PRIZE WILL NOT BE AWARDED IF NO ELIGIBLE ENTRANT SUBMITS A PERFECT BRACKET.
First Prize: The twenty (20) First Prize Winners will each receive one hundred thousand dollars ($100,000) ("First Prize"). The First Prize will be delivered to the First Prize Winners in the form of a check.
Mathematical odds of winning the Grand Prize are 1:9,223,372,036,854,775,808,
Potential Grand Prize Winner: One (1) grand prize will be awarded to an eligible Entrant only if on a single, validly submitted Challenge Entry Bracket, he/she accurately predicts the outcome of all 63 games in the Tournament ("Perfect Bracket"). The Grand Prize (as hereinafter defined) will only be awarded if an eligible Entrant submits a Perfect Bracket (the "Grand Prize Winner").
Twenty (20) First Prize Winners: Twenty (20) first prizes will be awarded to the twenty (20) eligible Entrants who scored the most total Points in the Challenge based upon the Scoring System (the "First Prize Winners").