President Obama made an impromptu post-Superbowl appearance on “The Late Show” Sunday night to discuss the major game. Colbert and the POTUS had quite a comedic exchange after Colbert threw a football at “the tall guy in the back with the really big ears.”

President Obama: After every Super Bowl, I call the winning team to congratulate them, and sometimes I also call the losing team, especially if I bet on them.

Colbert: Sir, I hate to break this to you, but betting is illegal.

President Obama: Ehh, I’m the president. I hereby pardon myself.

Colbert: Okay, fair enough.

Watch.