Crypto currency whale makes $1 million bitcoin wager with BUSR on Kentucky Derby – but who is it?
Justify, seen here winning the Belmont, had a $500,000 bitcoin bet on him to win the Kentucky Derby. He won, but it's still hard to justify.Associated Press Photo / Mel Evans, File

Crypto currency whale makes $1 million bitcoin wager with BUSR on Kentucky Derby – but who is it?

BUSR has odds on who made the bet. A change in odds on the horses may reflect who the bet was on.

How much money must you have in order to bet $1 million on a horse race?

Granted, it's not just any horse race, but $1 million is still $1 million.

BUSR, a boutique online gaming company, says it was approached by a famous entrepreneur/crypto-currency booster about taking a record bitcoin wager on the Kentucky Derby.

One. Million Dollars. Say it slowly, like Dr. Evil in "Austin Powers."

BUSR accepted the bet.

The wager more than doubles the bitcoin bet in 2018 on Justify to win the Kentucky Derby by an investment executive. That 10-coin bet (which would today be a wager of around $560,000) turned out well. Justify won the Derby (he later won the Triple Crown), and paid $7.80, $6 and $4.40 - a winning payout of nearly 4X.

As for this year's million-dollar bet, “At first, we thought it was a prank from a competitor or someone who had started celebrating the Derby a few days early with too many Woodford Reserve mint juleps,” said James Ross, a BUSR spokesperson.

But nope, it was real. “This is by far the largest transaction of bitcoin made for a wager on the Kentucky Derby and perhaps the largest bitcoin wager on any sporting event. Full stop,” said Ross.

BUSR spokesman James Ross
BUSR spokesman James RossBUSR

So who is this year's $1 million bitcoin bettor? BUSR isn't saying.

“The privacy of our members is a cornerstone of our business. If this individual chooses to tweet about his bets, we will find out when Twittersphere does, too.”

Even though BUSR's lips are sealed, it's not above having a little fun, and so there are now odds on the crypto whale.:

Mark Cuban +200

Mike Novogratz +400

Jamie Dimon +500

Hedge Fund Owner +600

Elon Musk +800

Cameron Winklevoss +1000

Tyler Winklevoss +1200

Private Equity Owner +1600

Jack Dorsey +2000

None of the Above +2500

Since the grading of the wager is predicated on the mystery bettor revealing his identity, BUSR will “no-action” the wager if the whale’s identity is not revealed before the end of May.

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