Las Vegas resident Derek Stevens is rooting for Michigan State harder than most people.

Stevens dropped $20,000 on the Spartans at 50-1 odds in early December, and will take home $1 million should Michigan State win the national championship, writes ESPN's Darren Rovell. 

(Courtesy: ESPN)

Tony Miller, sportsbook director at the Golden Nugget, is sweating. 

In my nine years at this sportsbook, I never accepted a bet that could result in us paying $1 million. The most I've ever seen won here was a $100,000 parlay. 

This would be a massive loss for us. I see days where we lose $10,000 to $30,000, but nothing close to $1 million.

Stevens owns a couple of hotels in Vegas, and regularly drops $1,000 on NFL games, but this was a big bet, even by his standards. He asked to ensure a return of $1 million if he won, and Miller went as far as clearing the bet with his boss.

The two are friends, and Stevens is already thinking about how to spend his money if his bet comes through.

"If I win," he said, "I'll give some bonus money to my employees. I also want to give some money to the (Jerry) Tarkanian Basketball Academy, and the rest I will reinvest in my properties."

Stevens won't be the only one watching Michigan State closely over the next week.

"I haven't watched a Spartans game as closely as I've watched the last two," said Miller.