The owner of a Las Vegas casino, Derek Stevens, stands to make a boatload of money if No. 7 seed Michigan can win the national title. On March 14, Stevens put down $12,500 on the Wolverines as a long shot -- and now they are in the Sweet 16 and don’t appear like they plan to slow down soon. He will collect $1 million if they can pull it off.
Michigan upset No. 2 seed Louisville on Sunday in the round of 32, rallying from a deficit of nine points to win it 73-69 and making an unlikely trip to the Sweet 16 as a 7-seed. It will play No. 3 seed Oregon in Kansas City for a chance to get one step closer to a hefty payout for Stevens.
The Wolverines’ odds to win it all sit at 18-1, about middle of the pack among the field of 16 teams remaining. But hey, the odds were pretty slim that they would even make it this far. So you gotta think Stevens is feeling pretty good about his bet right now.