If Michigan State wins title, man wins $1 million
A Las Vegas man walked into the Golden Nugget sportsbook all the way back in December and asked to place a wager on Michigan State to win the national championship that would pay out $1 million.
ESPN reports that Derek Stevens, a local hotel owner, felt like placing a big bet on the Spartans, who were at 50-1 odds to cut down the nets when he placed the $20,000 bet.
Stevens is actually a graduate of the University of Michigan but said he supports both the Wolverines and the rival Spartans.
The Golden Nugget's bookmaker Tony Miller told ESPN that it was the biggest wager he had ever accepted, and if the Spartans win it will be the biggest payout he can remember by a factor of ten.
"This would be a massive loss for us," Miller said. "I see days where we lose $10,000 to $30,000, but nothing close to $1 million."
The Spartans are currently getting +800 odds to win the title.
- Brendan Maloy