HOT SPRINGS Ark — Recently fired Arkansas head coach Chad Morris reportedly lost the entire amount of his buyout agreement with the university following a bet at Oaklawn Casino’s sportsbook on the results of the Arkansas – LSU game on Saturday night.
According to casino officials, Morris approached them before the game asking to place a bet for the sum of $10.5 million, payable over 4 years, on the LSU Tigers to cover the -41 point spread over the Razorbacks.
“It was an unusual betting agreement for sure,” casino manager Terry Benedict says. “Given the guaranteed nature of the money, we felt safe allowing the bet.”
Benedict says Oaklawn was able to make an agreement with the University of Arkansas to allow the buyout payments to go directly to them.
Morris sat at the casino watching the entire game dressed in LSU apparel according to witnesses. He was loudly cheering the Tigers and bought multiple rounds of drinks for the entire bar when LSU took a 49-6 lead in the 3rd quarter and again when they scored to start the 4th quarter, going up 56-6.
“He was going wild, he started screaming out ‘LSU is going full tilt boogie’ for some reason,” casino patron Frank Catton said. “When Arkansas scored their second touchdown in the 4th quarter he started crying. I saw the bartender offer him a drink on the house and he said he would just take a lukewarm Pepsi. The guy looked seriously depressed.”
In related news, the casino also says that there has been a $4.35 million bet placed on Houston Nutt to become the next head coach of Arkansas by Houston Nutt himself. They are still consulting with the legal team to determine if the bet is allowed.