Tilman Fertitta makes $1 million March Madness bet

HOUSTON (KTRK) -- University of Houston's board of regents chairman Tilman Fertitta is going all out in a wager on who will win the NCAA men's basketball title.

Fertitta, who is also the owner of the Golden Nugget Hotel & Casino, agreed to a bet that would payout $1 million if University of Michigan takes home the championship title.

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Currently, his bet is on University of North Carolina winning the title.

If he wins the Bloomberg Brackets for a Cause March Madness challenge, the more than $380,000 jackpot will go to the Houston Police Foundation.

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