Michigan Alum And Casino CEO Set To Make $1 Million Off Insane Bet If The Wolverines Win National Championship

Getty Image

Michigan Alum and Vegas casino CEO, Derek Stevens, had a feeling this Michigan team was special, now he’s one win away from cashing in $1 million from this $25,000 40-1 bet he put in before the tournament.

Via Detroit Free Press

I like way Michigan is coming together,” Stevens said. “They have really pulled it together at the end of the season. The Big Ten tournament was just great. You could see how Coach (John) Beilein was bringing the team together. I thought when you looked at it this team might have a good run. In the NCAA no matter who it is you have to have a little luck; the way your bracket plays out. If the stars aligned I thought Michigan had a shot this year.”

Stevens, who owns the Golden Gate Hotel & Casino and Downtown Las Vegas Events Center, already has a plan in place just in case Michigan wins.

“I’m re-investing it in building a new casino in downtown Las Vegas,” he said. “I have the Golden Gate Hotel and Casino and I have the D Las Vegas, which a lot of people from Detroit come to watch Tigers or Pistons. I’m in the process of building a third casino.”

Unfortunately for Stevens Michigan is facing the impressive-looking Villanova in the national championship game and will more than likely be big underdogs against the Wildcats.