Alabama sports enthusiasts are in for a treat as Barstool Sports founder, Dave Portnoy, is making headlines by coming out of gambling retirement. Portnoy, who declared bankruptcy in 2004 due in part to poor gambling habits, is placing a jaw-dropping $1 million bet on the Michigan Wolverines.
In a bold statement, Portnoy expressed his confidence in the Wolverines’ victory, stating, “I will be betting 1 million on Michigan. That’s how confident I am.”
This surprising move comes after Portnoy vented his frustration at the College Football Playoff Committee for leaving Florida State out of the NCAAF playoffs despite an undefeated record. He exclaimed, “FSU GOT SCREWED. FEED ME BAMA.”
Portnoy’s gambling habits
While Florida State faces Georgia as a 14-point underdog in the Orange Bowl, Portnoy shifted his attention to Michigan’s matchup against the Alabama Crimson Tide on New Year’s Day.
Michigan has opened as a 1.5-point favorite on FanDuel Sportsbook, and a $1 million bet for Michigan to win outright (-118 odds) could yield a profit of $847,457.63.
Despite Portnoy’s bold move, recent sports betting results for the Barstool Sports founder have been less than stellar. Admitting to “some monster losses,” Portnoy expressed his frustrations, particularly highlighting a substantial loss on the Bengals following Joe Burrow’s season-ending wrist injury.
Known for his frequent declarations of retirement and un-retirement from gambling, Portnoy acknowledged, “I retire 10 times a week. When I’m going bad, I quit and retire every day.” This impulsive approach to gambling has been a trademark of Portnoy’s, reminiscent of his bankruptcy in 2004.
Portnoy’s bet definitely sets the mood
As the controversial businessman expresses confidence in Michigan’s victory over the Crimson Tide, sports analysts are curious to see if this bold move will work in Alabama’s favor.
Head coach Nick Saban, with an impressive 8-2 record against top-ranked teams, poses a formidable challenge for Michigan, and Portnoy’s million-dollar bet adds an extra layer of anticipation to the New Year’s Day showdown.
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