Birmingham Jeweler, Jeff Dennis Jewelers Loses 70k on Super Bowl Bet

Birmingham Jeweler, Jeff Dennis Jewelers Loses 70k on Super Bowl Bet

Owner of Jeff Dennis Jewelers Loses 70k to Bet

Needless to say all of America was shocked at the outcome of the 48th annual Super Bowl. Most sports outlets said this was going to be one of the best games to watch, the Broncos vs Seahawks. Both teams had earned their way to the top, but with one of the best quarterbacks in the league, Peyton Manning, playing for the Broncos, most bets were against the Seahawks. We all remember Richard Sherman’s boast during the championship game, stating he was “the best corner in the game” and trashing Michael Crabtree. Most of us thought it wasn’t enough to win the Super Bowl. One of those people that was most doubtful, Jeff Dennis, owner of Jeff Dennis Jewelers.

It was almost like he was seeing into the future, he made a bet with his customers that if there was a safety during the first 10 minutes he would refund everyone of their money, in cash. This best cost him roughly around $70,000. He has been running this promotion for over two weeks before the game and was completely confident in the Denver Broncos ability to win that shiny silver trophy. The game started at 6:32 pm (EST), the first safety was thrown 30 seconds in. Literally the opening play of the game was a safety.

Shockingly, Dennis was “thrilled” about the play, according to AL.com. He said that with all the freebies people are more likely to spend their money on more jewelry, so it usually plays out in his favor. Hats off to him, although a risky business technique, this usually does advertise the brand very well. Jewelry stores like Chicago’s P.K. Bennett lost $151,000 by wrongly predicting the amount of snowfall. The Bennett’s also said it helped their business out tremendously!

The question that everyone is wondering…How does this company retain any type of profit? Dennis filled us in on a little secret, the company takes out an insurance policy with Lloyd’s of London. They cover the costs of all his little gimmicks. Dennis has been doing these promotions for over three years now. He says it always gets a lot of people interested, we can only imagine what it has done nationally for the company.

This is a great business technique to follow after not only because the jewelry store is basically handing out free money, but the fact they are staying true to their word shows they are a trustworthy company. Being able to give away $70,000 is honoring the customer and not scheming them into a bad gamble. Dennis assured his customers by updating his Facebook statuses, saying things like, “Halftime? I quit watching after the first play!”

This Super Bowl will go down as a moment in history. The final score was 43- 8 Seahawks. Bronco’s didn’t score once in the first, second or fourth quarter. This was the most-watched Super Bowl according to fox news.com. There were over 29 million tweets that night, fans from all over were expressing their disbelief in the scores of the game. This was the perfect way in getting people interested in your jewelry as well. Maybe Jeff Dennis Jewelers will have better luck next year!

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