In a bold move that’s since become a cautionary tale, one bettor put down a staggering $615,000 on three college football futures at BetMGM sportsbook in Glendale, Arizona.
The plan? Bet big on three highly-ranked teams to win the national title, then hedge if one or more made the College Football Playoff (CFP).
But the season’s gone sideways, and unless something wild happens, the bettor could lose it all.
Let’s get into the details of this high-stakes gamble and see what’s at stake.
The High-Stakes Wager
On June 24, a bettor walked into BetMGM at State Farm Stadium and made three massive bets on the college football season.
The approach was simple: pick three top-ranked teams to win the national championship, hoping at least one would pay off.
- Texas Longhorns
- Penn State Nittany Lions
- Clemson Tigers
Each team had solid preseason rankings and odds, so on paper, this didn’t seem like a wild risk.
But as the games played out, things started to unravel fast.
The Texas Longhorns: A Season of Ups and Downs
Preseason Favorites
The first—and biggest—bet was $300,000 on the Texas Longhorns to win the CFP at +500 odds.
Texas was the preseason AP No. 1 and co-favorite with Ohio State at BetMGM to win it all.
With Arch Manning, the preseason Heisman favorite, expectations were sky-high.
A Rocky Road
But it hasn’t gone as planned for the Longhorns.
They’re sitting at 7-3, with losses to Ohio State (14-7), Florida (29-21), and Georgia (35-10).
Their odds to win the CFP have plummeted to 200-1.
They’re now a +1600 long shot just to make the playoff—basically a 5.9% chance.
They’d need to win out against Arkansas and No. 3 Texas A&M, and honestly, get a little lucky elsewhere.
Penn State Nittany Lions: A Season of Disappointments
High Hopes Dashed
The second wager was $200,000 on Penn State to win the CFP at +750 odds.
Penn State had its best preseason title odds in decades, but things fell apart almost immediately.
Back-to-back losses as huge favorites—first at UCLA, then against Northwestern—led to head coach James Franklin getting fired.
To make matters worse, starting QB Drew Allar went down with a season-ending ankle injury during the Northwestern game.
Out of Contention
Now, Penn State’s 4-6 and out of the playoff race.
That $200,000 wager is looking like a total write-off.
Clemson Tigers: Falling Short of Expectations
A Promising Start
The third and final bet was $115,000 on Clemson at 13-1 odds to win the CFP.
Clemson was a trendy pick—Dabo Sweeney had led them to at least nine wins every year since 2011, so why not?
Early Setbacks
But the season went off the rails fast.
They dropped three of their first games, including a brutal loss as 17.5-point home favorites to Syracuse.
At 5-5, Clemson’s not even in the conversation anymore.
That $115,000 wager? Pretty much gone.
The Financial Implications
Any one of these bets would’ve paid out about $1.5 million.
But with how things look now, all three are likely losers.
It’s a harsh reminder—sports betting can be thrilling, but it’s anything but predictable.
Lessons Learned
The Risk of Futures Bets
Futures bets are tempting because of the big payouts, but they’re risky.
This bettor tried to hedge by picking multiple favorites, but stuff happens—injuries, firings, upsets.
Importance of Diversification
Diversification isn’t just for Wall Street; it matters in sports betting too.
This bettor did spread out the picks, but all were favorites—maybe mixing in a few underdogs could’ve helped balance the risk a bit.
Conclusion
This high-stakes gamble on the college football season really stands out as a cautionary tale for bettors. The idea of a big payout is always tempting, but honestly, the unpredictable nature of sports can flip even the smartest bets upside down.
As the season moves forward, the bettor’s hopes are riding on a long shot. Turning a $615,000 wager into anything but a donation to BetMGM seems unlikely, but hey, stranger things have happened in sports.
For more details, check out the full article on Yahoo Sports here.
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