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Simon Cowell

LOSES $20,000

Bet to L.A. Reid

12/21/2012 4:15 PM PST BY TMZ STAFF
EXCLUSIVE

1221_la_reid_x_factor_simon_cowell_article
Simon Cowell has TWENTY THOUSAND reasons to cry over Thursday night's "X Factor" results show -- and it's all thanks to a rich-person bet he made with L.A. Reid. 

TMZ has learned ... Simon and L.A. made a wager at the beginning of the season ... and if either judge had a contestant win the whole shebang ... the losing judge would cough up $20k.

So when L.A.'s contestant Tate Stevens took home the crown ... he grew just a tiny bit richer than he already is. And since Simon's no sore loser, we're told he plans on cutting the check ASAP.

We're pretty sure it's illegal for the rich people to make this bet in the State of California -- but hey, who are we gonna tell?

109 COMMENTS

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31.

Paul    

I was sickened over the news Tate Stevens who last night. I planned on watching the broadcast but once I heard he won I decided to skip watching. Carly Rose deserved to win but it will work out for her because having had won she would be tied up with X-Factor contracts for a period of time. This way she can work with independent record producers dying to sign her to there label. She is ONLY 13 years old and has a season singing voice already. Winning singing reality show contest can be the kiss of death for some inspiring singers. Just ask Ruben Sutters who won "AI" in 2003. None of the shows winner on "The Voice" have yet to crack the billboard charts. Non winners like Jennifer Hudson and Chris Daultry have made names for them self in the recording industry going on to win Grammy awards and Hudson even won an Oscar . Carly will do just fine having gained exposure without the ties to a reality singing show.

581 days ago
32.

lois    

I stopped watching X Factor after they broughht in that whory Kardishian in her sexy street walker clothes..

581 days ago
33.

ivona poyntz    

I'm getting tired of Simon Cowell

581 days ago
34.

GLaDOS    

Who cares. Does anybody even watch that crappy staged karaoke show? How that over-produced garbage has stayed on the air is beyond me.

581 days ago
35.

BG    

Wow, that is really interesting. We have judges making wagers while at the same time one judge signs the winner while another judge usually signs the losers.

581 days ago
36.

terryhighlander    

TALK ABOUT SELF LOVE ,WHAT A PRICK. if this is what money does to people i will stay poor some how but i never want to be like this smug ******* !!!!

581 days ago
37.

super_bidi    

Rich people problems.

580 days ago
38.

Seldombinlaid    

Good picture of Simon. I always have liked him on these shows. I lived in England for three years, and he has that indignant look that Blokes get on their faces when they've been insulted. lol

580 days ago
39.

John F. C. Taylor    

They are not co-stars. They can't be because they are not stars. They may be celebrities, but being hosts of a reality show does not make them stars.

580 days ago
40.

bexlife    

The legal ramifications of such a bet can be remedied by donating the money to a local charity. A suggestion of a local food pantry or children in need of toys or clothing.

580 days ago
41.

bexlife    

AThe legal ramifications of such a bet can be remedied by donating the money to a local charity. A suggestion of a local food pantry or children in need of toys or clothing.

580 days ago
42.

Randy Hill    

Not fair to the contestants that the "Judges" would bet on an outcome that they are judging.

580 days ago
43.

Randy Hill    

Not fair to the contestants that the "Judges" are betting on an outcome that they are judging.

580 days ago
44.

jaythepirate    

Narcs!

580 days ago
45.

Jerome Ennis    

Good for L.A. Reid, and I am sure that Cowel is not going to miss 20K. For a multi-millionaire, that is pocket change, and you can bet your ass that the state of California and the IRS will get their cut, and that's the part that is disgusting to me. The government belives that they have the right to confiscate money and property from citizens in order to run their bogus government bureaucracies, mos of which are totally useless and do nothing but harm the country and the citizens, and do absolutely no good, thus forcing citizens to pay for their own destruction by government. That is how Socialist/Communist/Fascist countries and state operate.

580 days ago
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