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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

No Avatar
1.

Seldombinlaid    

That's chump change to these two.

639 days ago
2.

Laura    

$10,000 isn't much to either of these men. I hope, after this win, that Simon is more open to all ages in this competition. It needs more variety in ages, personalities, etc. This year's winner proved that.

639 days ago
3.

stephanie    

Way to waste money, let's hope he does something meaningful with his 10,000 like donate it to the sandy survivors? donate to an animal shelter?

639 days ago
4.

Seldombinlaid    

May seem petty. But when they took, Paula off of that show, and stuck a Kardashion on it. I never watched it. I never missed a show their first season. The Kardashion was the last straw for me.

639 days ago
5.

Lee    

Wow...who does he think he is...Mitt Rmoney?

639 days ago
6.

Gary    

Good God KMZ.....it's like all you can talk about lately....the Krapdashians and Simon and that low rated horrible X - Factor....nobody watched!!...who cares?...Simon is a freaky looking dude with all the plastic surgery or injections....he shouldn't listen to Ryan and the Krap family about his face.

639 days ago
7.

Rich     

Pocket change to Simon

639 days ago
8.

Majestik    

Um, how do two judges make a bet on the outcome of their own show? I think TMZ is right, that sounds like its illegal.

639 days ago
9.

TC    

First story said 10K. Admit your mistake, that's all.

639 days ago
10.

Dee75    

That kind of money would change my life! That's trival to the rich but it would go a long way for me

639 days ago
11.

Berserk    

In other news, botox stock is expecting a net loss of $20k this quarter.

639 days ago
12.

Jordan    

Do the Lawyers at TMZ know that there are no laws in California regarding TV, Movies, or Music, just because of people like Katt Williams we can add stupid Comics to that List.

639 days ago
13.

Shasta    

LOL..it's not illegal if they made the bet on Indian land!

639 days ago
14.

Hammer    

Ahhh .. rich people's problems

639 days ago
15.

Rossetta    

Well, high or not, where is the the talent..I do not get it..She seemed determined to upstage the poor girl...

639 days ago
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