Barstool Founder Dave Portnoy recently won a significant bet on the UConn Huskies during March Madness, wagering $600,000 at +360 odds with the hopes of winning $2.16 million. He achieved his goal with UConn’s 75-60 victory over Purdue, calling it “the greatest bet of my life.” Portnoy expressed his confidence in the team, stating that they would win the tournament 100 out of 100 times.
Throughout UConn’s dominant performance in the championship game, Portnoy displayed some uneasiness after a foul was called on Donovan Clingan. However, the team’s win over Purdue was decisive, showcasing their strength and dominance in the tournament. Most bookies likely faced significant losses, particularly those with liabilities on UConn’s future market, as Portnoy had made the largest reported bet on DraftKings.
The phrase “good teams win but great teams cover” was fitting for the Huskies’ performance as they not only won all six games but also covered the spread in each one. UConn went 12-0 ATS during their back-to-back title runs, a feat that had never been accomplished before. If a bettor had started with $100 and rolled over their winnings from each game at -110 odds, they would have won a significant amount, highlighting the potential profit that could have been made through an ATS spread system.
Portnoy’s $600,000 bet on UConn could have potentially led to even greater winnings if he had rolled over some of his initial stake into an ATS spread system. By investing $100,000 and continuing to bet on UConn covering the spread in each game, he could have won approximately $4.841 million. As he awaits his payout from DraftKings, Portnoy can reflect on his successful sports betting victory, adding to the string of wins he has experienced in recent months.
Overall, Portnoy’s bet on the UConn Huskies during March Madness proved to be extremely profitable, with a $2.16 million return on his $600,000 wager. The team’s dominant performance throughout the tournament, culminating in a decisive win in the championship game, solidified Portnoy’s belief in their capabilities. His confidence in the team’s success, as well as their ability to cover the spread in every game, led to a significant payout and demonstrated the potential for success in sports betting.
