Elon entered Saturday's contest against James Madison as a 37.5-point underdog.
The college football season produced a new Vegas darling on Saturday.
Elon upset FCS No. 2-ranked James Madison 27-24 on Saturday on Davis Cheek's 15-yard touchdown pass to Avery Jones with 1:17 remaining. It ended the Dukes' record 20-game Colonial Athletic Association winning streak, marking their first conference loss since October 31, 2015.
Perhaps most stunning: Elon closed as 37.5-point underdogs, according to VegasInsider.com. That made Elon's victory the biggest Vegas upset of the college football season thus far, besting Old Dominion's stunner over Virginia Tech as a 28.5-point underdog.
The Phoenix's win was the third-biggest Vegas points spread upset ever. The biggest upset occurred last season, when Howard defeated UNLV 43-40 as an 45.5-point underdog. In 2007, Stanford beat USC 24-23 after entering the game as a 40.5-point underdog.
Elon was set up for the game-winning drive by a fumble recovery made by Gregg Liggs Jr. Cheek led a 10-play, 74-yard drive and found Jones in the corner of the end zone. Connor Christianson sealed it with an easy interception in the closing seconds.
Malcolm Summers' career-long 59-yard TD run—Elon's longest play of the season—put the Phoenix (4-1, 2-0) up 20-12 early in the fourth quarter, but the Dukes (4-2, 2-1) closed to 20-18 on Trai Sharp's 6-yard run and pulled ahead 24-20 after DiNucci hit Riley Stapleton on 10-yard touchdown pass. But Elon rallied to regain the lead late to end James Madison's FCS-best 19-game home win streak.
Reporting from the Associated Press was used in this story.