There is still some time before March Madness of the NCAA Division I Men's Basketball Tournament.

But thinking about your bracket now could pay off big time.

Quicken Loans has teamed up with Warren Buffett and his company, Berkshire Hathaway, for the ‘Billion Dollar Bracket Challenge,’ in which they will give away $1 BILLION to any lucky soul who correctly picks the winner of every single game in the NCAA Division I men's college basketball tournament.

That'll make you think twice before picking a 12-seed to reach the Final Four, don't ya think?

The lucky winner will get the money divvied up over 40 yearly payments of $25 million or in a $500 million lump sum.

If more than one person wins, they’ll have to split the $1 billion.

Buffett said he’s excited to join this American tradition:

Millions of people play brackets every March, so why not take a shot at becoming $1 billion richer for doing so? While there is no simple path to success, it sure doesn't get much easier than filling out a bracket online.”

As if the chance to become a billionaire isn’t incentive enough, the 20 people who have the most accurate -- but not perfect -- brackets will win $100,000 apiece.

Registration gets under way on March 3. All entrants must be at least 21 years old. Only the first 10 million people who sign up can participate.