March Madness Puts U-M Grad Firmly In Spartan Nation With Million Dollar Payoff
BIRMINGHAM (CBS DETROIT) - A Michigan grad has one very big reason to root for Michigan State as the team enters the Final Four this weekend.
Derek Stevens of Birmingham, who owns the D Casino in Las Vegas, has placed a pretty big bet on his former rival. Stevens put $20,000 down on the team back in December when the odds were 50 to 1.
The payoff if Michigan State wins it all: $1 million.
It's the biggest bet of his life.
"The Golden Nugget doesn't take a wager that big and I don't wager that much myself but I thought - maybe we'll push it."
Why did a Michigan man put a bet on the rival team?
"I had to take a shot on a team that I thought had the potential to develop throughout the years so that's really what happened. You know, you can't really go in and make a wager that's ... four or five months out on a team like Kentucky that the odds are even money - it doesn't make a lot of sense."
"I'll try to make sure that we have a little bit of money on the other side," Stevens added.
"It certainly will be an interesting Saturday afternoon in Las Vegas - that's for sure - it's a big-ticket and ... at the same point - I think before the game goes up - I'm going to figure out a way to mitigate some of my risk."
Stevens is hosting a Green and White party at the D Casino and says he'll be rooting for a Michigan State win."
The Wolverine says he'll be rooting for Michigan State, "that's the big hit."