NCAA Tournament: Million-Dollar Bet On MSU Might come through For Vegas Casino Owner

Michigan State is in the Final Four where they will face off against Duke on Saturday. Not many people expected MSU to be in this position.

But one fan named Derek Stevens – who also owns two Vegas casinos- placed a $20,000 bet on Michigan State to win it all last December. The odds were 50-1, and now Stevens is on the verge of winning $1 million.

Sportsbook director Tony Miller said this is potential the highest payout he’s ever seen.

“In my nine years at this sportsbook, I never accepted a bet that could result in us paying $1 million,” Miller said. “The most I’ve ever seen won here was a $100,000 parlay.”

Stevens, who owns The D and Golden Gate hotels in downtown Las Vegas, said he didn’t see anything particularly special; he is just a fan and felt like getting aggressive.

“If I win, I’ll give some bonus money to my employees,” Stevens said. “I also want to give some money to the [Jerry] Tarkanian Basketball Academy, and the rest I will reinvest in my properties.”