Warren Buffett wins First Sports Bet – Collects $500

warren-buffett-first-sports-betThey say that there are many parallels between successful sports betting and investing. And billionaire Warren Buffett recently tested this theory out by doing some college football betting.

Buffett visited the MGM sportsbook and placed his first-ever bet on the Nebraska Cornhuskers covering a 12.5-point spread. His $550 wager paid off when the Cornhusers blew out the Fresno State Bulldogs by a score of 55-19. And his prize for the winning wager: $500.

Seeing as how Buffett is worth $64 billion, the profit from this bet is like change between his couch cushions. Nevertheless, we’re pretty sure that he was thrilled to win this “small” bet.

Given how good the Berkshire Hathaway CEO is at picking winners in the stock market, certain visitors at MGM paid special attention to his wager. As CNBC reports, several people came over and made the exact same bet that Buffet did. And considering the results, some of these same bettors might be tracking the 84-year-old’s future wagers as sharp money.

warren-buffett-ncaa-tournamentIt’s interesting timing that Buffett has finally gotten into sports wagering because he’s been hanging out with Floyd “Money” Mayweather. Well known for his lavish sports bets, Mayweather has tweeted slips of winning seven-figure scores before. The two have been meeting to discuss how Mayweather can invest $100 million and eventually turn it into $1 billion.

As if he hasn’t done enough to boost his betting image over the past year, Buffett was also famously involved in the 2014 NCAA Tournament $1 billion bracket challenge. His company insured the $1 billion prize so that anybody who picked a perfect bracket would be guaranteed the vast fortune. However, just 25 games into the challenge, everybody was eliminated from contention. And that’s pretty much how one would have expected this to go since Buffett and Berkshire Hathaway did the math 10 times over before offering the $1 billion bracket challenge.