The Texas Rangers’ Game 7 MLB Championship win on Monday not only left Houston Astros fans disappointed, it also proved costly for the city’s popular sports bettor and furniture salesman, Jim “Mattress Mack” McIngvale.
The owner of the Gallery Furniture chain is known for regularly making huge bets, often involving a team from Houston, to help promote his business. That didn’t pay off for the Astros this year, and McIngvale lost bets totaling at least $7.9 million as the Rangers rolled to an 11-4 win.
Missed opportunity in Mega Payout
Not only did McIngvale blow the Astros’ bet, he missed a massive comeback opportunity. His employer had bets on several books that would have rewarded him nearly $51 million had the team won the World Series.
This included a bet late in the season when it looked like the team might not reach the playoffs. Here a Look at all his betsAccording to CBS Sports:
- Spring Training – $1.9M at +600 to win $11.4M (Caesars)
- September 15 – $2M at +600 to win $12M (DraftKings)
- September 27 – $1M at +1100 to win $11M (Caesar)
- Pre-AL Divisional Series – $2 million at +450 to win $9 million (bookmaker unknown)
Betting for business
When betting huge amounts, McIngvale will usually hedge the bet with some major furniture promotions. Those who purchase a mattress often have a chance to get their money back if the bets come off.
Additional purchases as part of the promotion help offset the cost of betting. If the bet is successful, the winnings help fund those free mattresses – hence the nickname “Mattress Mack.” But those who buy this year, You will not get the discount.
“Sometimes you get caught in the rain and you don’t look back,” McIngvale told a reporter. Vegas inside.
Despite the losses, McIngvale has still performed well over the past two years. After the Astros won the World Series last season, Mattress Mack raised a record $75 million.
