Michigan Backers Win Bets on Jim Harbaugh Hiring at 2-1 Odds

Those who bet San Francisco 49ers head coach Jim Harbaugh would end up in Michigan coaching the Wolverines will finally be able to cash out.

Up until the halfway point of the regular NFL season, Harbaugh was still the favorite to remain as head coach of the 49ers with Michigan at 2-1 odds.

Sportsbook.ag earlier this month suspended betting on Harbaugh following suspicious wagering activity.

“We suspended Jim Harbaugh 2015 coaching odds as money came pouring in on Michigan late yesterday afternoon,” advised Matt James of Sportsbook.ag.  “The odds went from 8-1 all the way down to 2-1, before we closed the event.

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“What was even more concerning than the money was the location of the accounts betting Michigan, as the majority of them located in the state of Michigan!”

Michigan has told its biggest boosters that a deal for Jim Harbaugh to become its next head coach is done and that a news conference is scheduled for Tuesday, according to ESPN sources.

Details about Harbaugh's contract weren't immediately available, but reports earlier this month suggested Michigan offered a six-year contract worth at least $48 million.  The now ex-49ers head coach had previously considered taking a job with the Wolverines in 2011 before jumping into the NFL.  Two years ago, he led his team to the Super Bowl where they lost against Baltimore.

The 49ers finished with an 8-8 record this season and failed to make the Playoffs.

- Carrie Stroup, Gambling911.com Senior Reporter