Dave Portnoy Plonks Down $1M on Michigan vs. Alabama

Portnoy has excited media interest by placing a $1-million wager on the outcome of the College Football Playoffs and the game between Alabama and Michigan. This puts him side-by-side with other big spenders, including Mattress Mack and definitely the Canadian rapper.

“That Confident” About Michigan Winning

Portnoy is backing Michigan to win, as he feels “that confident” about the team’s chances to triumph over the Crimson Tide. His personal ramblings aside, Portnoy has said that Michigan dominated the Big Ten this season, and the team is in prime condition to power through to the finals, with the first step being the 2024 Rose Bowl game versus Alabama. Portnoy is willing to cough up a significant sum to prove it.

Presently, sportsbooks are indeed running Michigan as a short favorite. Portnoy placed his bet with FanDuel at odds of -118 (oh, the irony), and is looking at a hefty $847,457.63 payday plus his original stake if he ends up winning.

If he loses? Well, this won’t be the first time Portnoy has had to part with significant sums over gambling. Portnoy himself attests to “monstrous losses,” which have even prompted him to “retire” from sports gambling, but it seems that he is drawn out once again, as he also jokes that these retirements just don’t last long.

Portnoy is an alumnus of Michigan, and it makes sense to feel a little biased and perhaps too excited about the opportunity to see the Wolverines triumph. If you don’t have $1 million of spare money, though, it may be better to take your betting a little slower.

Unflattering Past, but Optimistic about the Future  

Portnoy has been a controversial figure in and around sports gambling. He suffered some reputation damage when women spoke out against the entrepreneur and accused him of “sexual harassment,” arguing that he subjected them to rough and humiliating intercourse.

Those accusations, while damning, were never proven, but they were enough to make it harder for Barstool Sportsbook, the company that Portnoy owned and later sold to Penn Entertainment, to only buy it back for $1, to operate in certain jurisdictions.

Portnoy himself swore to put Insider, the media that first made those allegations, out of business. The entrepreneur reportedly dropped the lawsuit against Insider for its “clickbait” content earlier this year, and is now moving forward to more positive experiences, such as placing seven-figure wagers on teams and players he enjoys.