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Not even a month out of jail, undefeated boxer Floyd Mayweather Jr. is up to his usual tricks. "Money" is said to have made a whopping $3 million bet on the Michigan Wolverines-Alabama Crimson Tide game that will take place on Saturday, according to IBTimes.com (h/t Detroit Free Press).

Mayweather is said to have put his seven-figure bet on Michigan—who is a 14-point underdog to Alabama—in the game, which will take place at the neutral site of Cowboys Stadium in Dallas, Texas.

Mayweather is known for making big bets, as he regularly posts his big wins on various social-media accounts and has made million-dollar bets before (per IBTimes.com).

"Money" is taking a big risk on his $3 million ante, since, according to IBTimes.com, almost 70 percent of bettors took the heavily favored Crimson Tide.

Mayweather was the top-earning athlete of the past year, according to Forbes, raking in around $85 million off of two fights alone. So, even if Michigan is unable to cover the hefty, 14-point spread on Saturday night, Mayweather's pocketbook won't be hurting too badly.

One can only hope that Mayweather will take what many perceive as a gamble in the ring in the near future and finally go toe-to-toe with Manny Pacquiao in a long-awaited superfight sometime within the next year.