{"id":3759,"date":"2018-03-29T23:17:44","date_gmt":"2018-03-29T23:17:44","guid":{"rendered":"https:\/\/www.pokerscout.com\/?p=3759"},"modified":"2018-03-30T14:43:02","modified_gmt":"2018-03-30T14:43:02","slug":"casino-owners-michigan-basketball-bet-net-1-million","status":"publish","type":"post","link":"https:\/\/www.pokerscout.com\/casino-owners-michigan-basketball-bet-net-1-million\/","title":{"rendered":"Casino Owner\u2019s Michigan Basketball Bet Could Net $1 Million"},"content":{"rendered":"

Derek Stevens<\/strong>, owner of The D<\/strong> and Golden Gate<\/strong> casinos in downtown Las Vegas<\/strong>, has a March Madness wager pending that could return $1 million<\/strong>!<\/p>\n

Stevens has 40-1 wager on Michigan Wolverines basketball team<\/span><\/h2>\n

The Nevada casino owner wagered $25,000<\/strong>\u00a0on the University of Michigan<\/strong> to win the NCAA basketball tournament at 40-1<\/strong> at the Golden Nugget<\/strong> sportsbook on March 3. He placed that wager before<\/strong> the Wolverines won the Big 10<\/strong> basketball tournament. It was also made before the brackets for March Madness were selected.<\/p>\n

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#OneStepCloser<\/a> for @umichbball<\/a> Thanks to @GoldenNuggetLV<\/a> and my friend @TilmanJFertitta<\/a> for taking the action. We\u2019re going to have a lot of fun in Downtown #LasVegas<\/a> #MarchMadness<\/a> @theDlasvegas<\/a> @GoldenGateVegas<\/a> @FSELV<\/a> #DTLV<\/a> #40-1 pic.twitter.com\/QbUUEN3KeJ<\/a><\/p>\n

\u2014 Derek Stevens (@DerekJStevens) March 18, 2018<\/a><\/p><\/blockquote>\n

In celebration of this wager, Stevens is hosting a Final Four viewing party<\/strong> at The Longbar<\/strong> inside The D. The man with the million-dollar wager will be watching and rooting for his beloved Michigan Wolverines at the bar right on the casino floor. It\u2019s not often you get a chance to watch a basketball game with a casino operator<\/strong>.<\/p>\n

Stevens is no stranger to big wagers<\/span><\/h2>\n

This $25,000 bet on the University of Michigan isn\u2019t the first time<\/strong> Derek Stevens has made a large sports bet. He always seems to be looking for a big score from the NCAA basketball tournament. In 2015, he wagered $20,000<\/strong> on Michigan State University<\/strong>. Unfortunately, his hopes for a million dollar win were dashed when the Spartans lost to Duke<\/strong>.<\/p>\n

In 2017, he wagered on the University of Michigan. The $12,500<\/strong> bet had long odds at 80-1. Again this was a losing<\/strong> wager. The University of Michigan lost to the University of Oregon<\/strong> in the Sweet 16<\/strong> of the NCAA basketball tournament.<\/p>\n

In addition to the big bets on teams from his home state, he placed $11,000 wagers<\/strong> on every first-round game<\/strong> of the NCAA basketball tournament this year.<\/p>\n

This was the second-straight year<\/strong> that Stevens appeared live on the air Vegas Stats & Information Network<\/strong> (VSiN) with Brent Musburger<\/strong> while South Point<\/strong> bookmakers set point spreads live on the air as the brackets were announced. According to the Las Vegas Sun<\/strong>, he netted $16,000<\/strong> from the first round wagers.<\/p>\n

Should Stevens hedge his bet?<\/span><\/h2>\n

Earlier this week Stevens asked his Twitter followers<\/a> if he should hedge<\/strong> his bet to guarantee he walks away with some money. Stevens has been mum on whether or not he hedged the bet. The hotel\u2019s PR team did not respond<\/strong> when asked for comment. VSiN\u2019s Gill Alexander<\/strong> offered some advice.<\/p>\n

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A Numbers Game: Imagine you are 2 games away from winning $1 Million \u2013 would you hedge your bet? Would you let it ride? @DerekJStevens<\/a> is in exactly that situation \u2026 and @beatingthebook<\/a> has a suggestion to offer the friend of @VSiNLive<\/a> and owner of @theDlasvegas<\/a> pic.twitter.com\/ah4ReiLUsV<\/a><\/p>\n

\u2014 VSiN (@VSiNLive) March 26, 2018<\/a><\/p><\/blockquote>\n

The first weekend of March Madness gets all the hype and draws a larger crowd to Las Vegas than the Final Four<\/strong>. The potential to see a million-dollar payout happen brings some sizzle to downtown Las Vegas<\/strong> for the semi-final of the NCAA basketball tournament.<\/p>\n

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