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Simon Cowell Loses $20,000 X Factor Bet to L.A. Reid Over Tate Stevens Win

Truth rating: 10

By Shari Weiss

(GettyImages.com)

L.A. Reid’s “X Factor” win on Thursday is costing Simon Cowell a whopping $20,000.

The two judges, who each had one act going into the finale, made a friendly wager on the outcome of season 2.

RELATED – Demi Lovato Saying Goodbye to X Factor For Good?

Now that Reid’s contestant Tate Stevens was named this year’s winner, it’s time for Cowell to pay up.

“It was a double or quits bet from last year,” a rep for Cowell tells Gossip Cop, referring to the music-TV mogul’s season 1 win with Melanie Amaro.

Something tells us Cowell won’t miss the bucks too much.

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