Portnoy Gambling Retirement Lasted Less Than a Week: Bets $1 Million on Michigan
The Michigan Wolverines will be facing Alabama as a -1 point favorite after opening at -2.5. At least one high profile gambler has placed a huge bet on the Wolverines.
That would be Dave Portnoy, the colorful founder of Barstool Sports. He claims to have bet $1 million on the Wolverines to win the 2024 College Football Playoff Championship.
"I will be betting 1 million on Michigan. That's how confident I am," he said.
Portnoy has not had the best football season, admitting to a significant loss on the Bengals following Joe Burrow's season-ending wrist injury. This led Portnoy to declare his "retirement" from gambling last week.
"I retire 10 times a week. When I'm going bad, I quit and retire every day."
Our own model indicates a sizeable underlay of as much as five points...and these underlays at 3/2.5 and lower without going above the 3 have done particularly well for the favorite. We've been doing pretty good with our college football plays over at the G911 Sports Hub.
We're not quite sure where he placed this million dollar bet. Portnoy's Barstool Sports was purchased by Penn National, which has since sold it back to him and converted the Barstool Sportsbook brand to ESPN Bet. Penn National is not exactly known for taking million dollar bets.
Portnoy reportedly lives in Massachusetts, which only legalized sports betting in the last year.
- Jagajeet Chiba, Gambling911.com
