South Carolina basketball’s great showing in the first round of the NCAA Tournament was not so great news for one college hoops fan.
A factory worker in West Virginia entered Warren Buffett’s March Madness bracket competition. He was one game away from a $1 million prize by getting every first-round matchup right, according to ESPN’s Darren Rovell. But he picked Marquette over the Gamecocks. South Carolina won, knocking his winnings down by $900,000.
Buffett’s company, Berkshire Hathaway, was offering $1 million per year for life to any fan who got the first two rounds right. Any entrants who got just the first round completely right would have still won $1 million. Instead, the West Virginia man won $100,000. But apparently he wasn’t too sad.
“He told me he almost didn’t fill out a bracket, so he wasn’t upset,” Buffett said. “He told me it will help pay off some of his bills.”
The contest was open to any employee of a company that fell under Berkshire Hathaway’s umbrella.
The Gamecocks may have ruined that fan’s chances this year, but he’ll get another shot. Buffett said the company will keep doing the contest. This was just the second year of the challenge.
“The odds are that we’ll eventually give away that $1 million,” Buffett said. “We like doing it because we often act as separate companies and this brings us all together.”
South Carolina reached the Sweet 16 for the first time in 44 years. Now if faces No. 3 seed Baylor on Friday in New York City. Tipoff is scheduled for 7:30 p.m. ET. TV: TBS.