In what may be the largest sports bet in history, Buffett’s Berkshire Hathaway Inc. will pay $1 billion to the person who correctly guesses the winner of every game during the March Madness classic.

Quicken Loans Inc., the contest sponsor, is paying an undisclosed premium to Buffett for his promise to pay the winner — if there is one.

“This will be the most fun. Just imagine if there’s one person left at the last game,” Buffett said Tuesday. “I will go to that final game with him or her and I’ll have a check in my pocket…. I think we’ll be rooting for different teams.”