We all know some gamblers can have clouded judgement, especially when a lot of money is on the line. But one dude bet that Michigan somehow walk out of the madness of March unscathed as the NCAA National Champions. If they do, he scores a handsome reward of $1 million. Not too shabby.
According to Wager Talk, Tilman Fertitta, the owner of the Golden Nugget, accepted a bet from Derek Stevens, who owns of the D hotel. The wager was $12,500 on 80-1 odds, which might have sounded completely crazy a month ago, but not too crazy now. Especially after watching the Wolverines dominate in the Big Ten Tournament, then respond with impressive showings against Oklahoma State and Louisville.
Stevens is no stranger to high-stakes gambling. He’s already wagered an astounding $320,000 on the first round of the tournament, losing $109,000 of that relatively quickly between the first four games and Thursday. Fortunately, he had better luck on Friday to keep his losses at a “minimum” (as if $109,000 were a minimum, but hey, some people are just rich like that).
As hard as it is for me to say this, as an Ohio State Buckeyes fan, Michigan has as good of a shot as any team remaining and are on one heck of a run. Let’s hope for Stevens’ sake the run continues with four more wins.