Owner of the D Las Vegas Casino Hotel in Nevada, Derek Stevens stands to earn a pretty penny if Michigan is able to pull out the big win during this year’s March Madness competition. If the number 7 seed team is able to earn the national title, Stevens will make a $1 million payday as he put a $12,500 bet on the Wolverines as the long shot to win overall.
So far, the Wolverines have entered the Sweet 16 and do not seem to be slowing down anytime soon. On Sunday, Michigan was able to upset Louisville, the number 2 seed, during the round of 32, coming back from a deficit of nine points to win the matchup 73 to 69. Michigan will now play Oregon, the number 3 seed, in Kansas City to try and get one step closer to the national title.
According to the latest odds, Michigan is at 18-1 to win it all and if they were to earn the first place win, it would be a major accomplishment for the team and help to pad the bank account of the Las Vegas casino owner. The Las Vegas Review Journal reported that Stevens placed a similar bet on Michigan State two years ago but he failed to earn a payday.
This year, Stevens placed the wager on his alma mater at the Golden Nugget, posting a photo of the ticket on Twitter. Tilman Fertitta, the CEO of the Golden Nugget, is not too worried about the bet and potential for Michigan to win it all, tweeting on Sunday, “Should be fun my friend!”
March Madness action kicks off again on Thursday when Michigan will face Oregon as well as West Virginia taking on Gonzaga, followed by Purdue and Kansas plus Xavier and Arizona matchups.
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