Man Could Win $1 Million if Michigan State Wins National Championship

Some folks have to work to make a lot of money, and then there are others that put down bets that make them seem like prophets.

During the early part of the college basketball season, Las Vegas hotel owner Derek Stevens decided to place a bet that would win him $1 million should it come to fruition: he bet that Michigan State would win the national championship, even after losing their third game of the year to Notre Dame just eight games into the 2014-2015 season.

At the time, the Spartans had 50-1 odds of winning the national championship, so Stevens placed a $20,000 bet on Sparty to win $1 million. If it were me, I would have put down $100, because the payout for that would be $5000, and to me, $5000 is more than enough potential winnings.

Stevens placed the bet at the Golden Nugget Hotel & Casino, and the sportsbook director, Tony Miller, was unsure whether to take the bet, since the payout would be so massive. He approached the owner of the hotel, Tilman Fertitta, and he approved of the bet.

I mean, this Spartan team was looking pretty bad at the time. This should be an easy $20,000 that the casino would win, right?

Well...

As we all know now, the Spartans caught fire during the Big Ten tournament, and are now just two victories away from winning a national championship.

And Stevens is just two victories away from becoming a millionaire (well, he owns a casino in Vegas, so he's probably already a millionaire).

If there's a lesson to be learned here, it's this: Take a chance on long shots from time to time. Find an underrated team, and put your eggs in their basket.

Oh, and if you just have $20,000 laying around, put it down for something with 50-1 odds. It'll pay off.

*Note: It may not pay off. That's why it's called "gambling."