Michigan Alum/Casino CEO Set To Cash In $1 Million If Michigan Wins The Title Monday

pic.twitter.com/4K9eYYgely

— Derek Stevens (@DerekJStevens) March 25, 2018

After Michigan took of business last night and sent Sister Jean back to Chicago, Michigan Alum and Vegas casino CEO, Derek Stevens, is one win away from cashing in $1 million from this $25,000 bet he put in before the tournament.

The bet was placed on March 3rd with Michigan at 40-1 to win the championship. Let’s take a look back at our trusty calendar for a second. March 3rd was a Saturday and more specifically, the Saturday during the weekend of the Big Ten tournament. Michigan beat Purdue in the Big Ten championship on Sunday, March 4th. Let’s also remember they were a 5-seed. So just for reference, this guy had Michigan before the thought of Michigan winning the National Championship even crossed anyone’s mind.

And he’s been riding it ever since. He got some good juju from Pope Francis yesterday and made sure to hedge a little bit before the Loyola game, and now he’s sitting at 1 win away.

This is @DerekJStevens answer to #SisterJean. #PopeFrancis bobble head blessing his $25K futures ticket on #MichiganBasketball to win $1 million. pic.twitter.com/8MwOOKIxlS

— John Katsilometes (@johnnykats) March 31, 2018

He held out to let @brentmusburger be the first to know of his hedge plans. @DerekJStevens reveals his strategy on #MyGuysInTheDesert with a $1million ticket on the line. pic.twitter.com/sWNTWpY4CY

— VSiN (@VSiNLive) March 30, 2018

Here’s Derek’s plans with the money if he ends up cashing in on this

Via the Detroit Free Press:

“I’m re-investing it in building a new casino in downtown Las Vegas,” he said. “I have the Golden Gate Hotel and Casino and I have the D Las Vegas, which a lot of people from Detroit come to watch Tigers or Pistons. I’m in the process of building a third casino.”