The play, "I Love You," opened on Broadway in New York City, New York, USA on 28 April 1919 and had 56 performances. The opening night cast included Richard Dix, Robert Strange and Ruth Terry. Dix played the role of the electrician in the stage version as well. Review: New York Tribune, April 29, 1919, page 13.
The tune performed repeatedly by Henry Armetta on the violin is "You're Always in My Arms" from Rio Rita (1929), an RKO Radio release of a few months earlier.
The $5,000 for the bet would be equivalent to about $75,000 in 2021.