With his win at the Masters Tournament Sunday Tiger Woods added another dramatic chapter to a life story that, has captivated many. This comeback from numerous physical ailments, and personal demons has inspired many. One man in Wisconsin was uniquely inspired, and he is reaping the rewards.
James Adducci was watching on a small television at his father’s house on Sunday, and he was forcefully cheering on the comeback of the legendary golfer, as he was deeply invested in a Woods victory. Literally. Adducci had money riding on the match, but not just an idle bet with friends, or a significant parlay on Draft Kings. When Woods dropped his 3-foot putt for the title it meant a $1.2 million payout for the fan.
The improbable win came about from what amounted to a hunch. Adducci placed a bet totaling $85,000 on a Wood’s victory, leading to a $1.2 million payoff. It becomes the largest single winner payout for the SLS Las Vegas Hotel & Casino, where the bet was placed. As impressive and improbable as this story is, the details behind just boggle. So much of Adducci’s story behind his bet only leads to more questions.
Starting with the simple fact that the Wisconsin resident is not a professional gambler. As he told Golf Digest it was the first time he had ever bet on a sports result. “I just thought it was predestined for him to win.” Adducci, a self-employed day trader, said he had arrived at his decision a month before The Masters, simply convinced of a Woods win. James states that he has numerous debts — a mortgage, two car payments, and two college loans — but he still had the $85,000, which he described as “everything I could afford to lose”.
His description of placing the bet also is steeped in curiosity. He did not wire his wager online with the casino — he flew to Las Vegas to put down his marker, in cash. He arranged ahead of time with the bank to pull the money out of an account comprised of what he calls failed stock money. Then he went to various casinos, with a backpack full of cash, and asked if they would take his bet. Seems like prudence would have been calling ahead and determining who would be willing to accept the wager, but then here I am, someone with gambling experience, dispensing advice to a million dollar winner.
Adducci says he will be using his after-tax proceeds to pay off debt, and then to use his experience with the markets to invest the remaining winnings. “I’m a responsible guy,” says the first time gambler who dropped tens of thousands of dollars, in a Walmart backpack, on the streets of Vegas.