King, 24, held up his sign asking for more Busch Light beer, which directed viewers to his account with mobile payment service Venmo, during a match on 14 September between the Iowa Hawkeyes and the Iowa State Cyclones.
Within hours of the broadcast, King had received over 2,000 notifications from his account.
The total amount received at the time of writing (25 September) is now $1.125 million.
Speaking during an appearance on Good Morning America, King said: “I thought it would just be a joke. I didn’t think anyone would actually see it.”
King tweeted after the game that he would donate all proceeds, minus the cost of a case of beer, to the University of Iowa Stead Family Children’s Hospital which overlooks the football stadium.
Both Venmo and AB InBev-owned Busch Light have pledged to match the donations, which led to King breaking the $1m barrier on Sunday (22 September)
King will accept donations until the end of this month.