Las Vegas Casino Owner Still In The Running

Posted by: CasinosOnline in Casino News

A high bet was wagered, let’s see what the outcome is.

Las Vegas casino owner, Derek Stevens, placed a high bet for $20,000 in favor of the Michigan State Spartans for this years March Madness Tournament back in December 2014. Despite Derek Stevens not attending Michigan State, and actually attending their rival University of Michigan, he is now Michigan States’ biggest fan. With such a high bet placed, should Michigan State win the championship, Derek Stevens will walk away with a hefty $1million pay out. Derek Stevens has even decided what to do with his winnings, stating that he will give his employees a bonus as well as donating some of it to the Jerry Tarkanian Basketball Academy, and the remainder of his winnings will be reinvested into his properties.

Since Nevada gaming regulations prohibit casino/hotel owners from betting at places that they own, Derek Stevens took his $20,000 to a friend’s casino to place the bet. Derek Stevens had even stated that he never makes these kinds of risks while betting on sports, saying “I bet $1,000 on an NFL game, I don’t do bets this big”. As for the friend of Derek Stevens, he has never seen a bet that could have this big of a payout. Tony Miller, the sportsbook director, stated “In my nine years at this sportsbook, I never accepted a bet that could result in us paying $1 million, the most I’ve ever seen won here was a $100,000 parlay.” While Tony Miller may be rooting for his friend, he might not be pushing as hard for him to be a million dollar winner. “This would be a massive loss for us,” Miller had said. “I see days where we lose $10,000 to $30,000, but nothing close to $1 million. … I haven’t watched a Spartans game as closely as I’ve watched the last two.”

As for Derek Stevens, his bet that was placed back on December 5th is still going strong. He will be at one of the hotels that he owns, The D, watching the Spartans face off against the Duke Blue Devils for their chance in the championship game to be held on April 6th. He is even inviting fans of the Michigan State Spartans to come join him and help cheer their team to the finals.