Why 'Jeopardy!' champ James Holzhauer made a low wager on his losing night - Fox News

When James Holzhauer made a relatively low wager in the Final Jeopardy round on Monday night's episode of "Jeopardy!," it left a lot of viewers scratching their heads — but "Jeopardy!" experts say that the professional gambler's bet was the best he could have made given the circumstances.

Holzhauer bet just $1,399 in Final Jeopardy, leading even Alex Trebek to remark at the unusually low number, but Brad Rutter, the all-time leader in "Jeopardy!" winnings, told the Washington Post that it was actually the absolute best way for Holzhauer to win during Monday's game.

Holzhauer had $23,400 leading into Final Jeopardy, with Emma Boettcher in first place with $26,600 and third place contestant Jay Sexton with $11,000. Rutter explained that Holzhauer's only chance at victory would be if Boettcher guessed the Final Jeopardy question incorrectly and Holzhauer guessed correctly.

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If Boettcher, who wagered $20,201, guessed incorrectly, she would have $6,399 remaining. Holzhauer, if he guessed correctly in that scenario, would have won with $24,799. In the off chance that Sexton answered correctly while Boettcher and Holzhauer each guessed incorrectly, he could have won. As a result, Holzhauer made a bet that would have had him leave with $1 more than Sexton's maximum potential winnings of $22,000, Rutter noted.

If Holzhauer had bet everything and Boettcher guessed the Final Jeopardy question correctly, Boettcher would have still won.

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Holzhauer explained to Action Network that Rutter's analysis was correct.

“I knew I could only win if Emma missed Final Jeopardy, as there was no way she wouldn’t bet to cover my all-in bet, so my only concern was getting overtaken by third place, and I bet just enough to make sure of locking him out," he said. "Betting big would have looked good for the cameras, but now I turn my straight bet (Emma misses) into a parlay (Emma misses, and I get it right).”

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Holzhauer wasn't too broken up about the loss. He told The Atlantic that he was resigned to his fate before it was sealed. “By the time Final Jeopardy rolled around, I knew my goose was cooked if Emma answered correctly. It’s a little like needing a team to miss a last-second field goal — nothing you can really do but watch," he said. "I made peace with my fate before the clue for Final was even revealed.”

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Holzhauer, who won 32 consecutive games before his defeat, finished his reign with $2,464,216, which includes the $2,000 he earned in his final game. That total comes short of the record set by "Jeopardy!" legend Ken Jennings, who earned $2,520,700 within 74 victories in 2004.

Fox News' Joseph A. Wulfsohn contributed to this report.

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