- Jim ‘Mattress Mack’ McIngvale hit the headlines again after placing over $11.6 million in bets on the Astros to win the Word Series
- Jim ‘Mattress Mack’ McIngvale owns Gallery Furniture in Houston.
- The Astros lost 6-2 in Game 7 to The Washington Nationals
Mattress Mack’s wallet suffered a serious dent after the Astros lost in the final game of the World Series. Mclngvale had placed a series of bets in the border of $13 million on the Astros to win.
Mattress Mack Loses Over $13 Million After Astros Loses to Nationals in Game 7
The World Series Game 7 was a big one for Jim ‘Mattress Mack’ McIngvale, 68, who owns Gallery Furniture in Houston. According to estimates, Mattress Mack would have taken home a clean $19 million in winnings if the Astros had their hands on the trophy at the final whistle.
However, Jim Mclngvale lost north of $13 million after placing multiple massive bets on the team. It all started when Mclngvale put out a promotion to refund all customers who purchased mattresses worth $3,000 or more should the Astros emerge winners.
It’s not the first time that the high-roller has made such a move. In 2017, Mattress Mack paid over $13 million in refunds after the Astros won the World Series for the first time after they beat Los Angeles Dodgers. This time around, estimates put the total liability at about upward of $20 million.
Mattress Mack enlisted the counsel of renown gamblers hailing from Las Vegas to help him out. Frank Betti and Anthony Curtis had two tasks. To find bookmakers in New Jersey and Las Vegas willing to accept massive bets and at the best price. Mclngvale anticipated a $20 million return on a $10 million stake that would help him fund the refunds.
Mattress Mack’s Betting Streak
October 1, saw him place a jaw-dropping $3.5 million on the Astros. This bet went down as one of the largest ever accepted by a bookmaker in the U.S. DraftKings was the bookmaker in question housed at the Scarlet Peral casino in Mississippi and the return stood at $7.7 million (net) at +220 odds. According to Matt Kalish, chief revenue officer at DraftKings, if the Astros won, it would have been the largest individual payout ever.
That wasn’t the only bet Mattress Mack placed. He was in New Jersey at FanDuel Sportsbook in The Meadowlands to place another bet worth $1.5 million at +220 odds, making it the highest wager ever placed in the state. An Astros win would have seen him pocket $3.3 million.
Other bets include $200,000 on the Astros to win at +250 odds at South Point in Las Vegas. Reports also said that he flew to Mississippi to bet $675,000 on Astros. Other unconfirmed reports say that Mattress Mack placed bets with other bookmakers including Circa Sports, MGM, Caesars, and Treasure Island.
In total, it’s estimated that Mattress Mack placed over $11.6 million both on futures wagers tipping the Astros and other individual World Series games. The most interesting part is that Mclngvale didn’t know how much was in play.
Nonetheless, speaking to ESPN before game night, Mattress Mack said he didn’t have any financial sweat going into the game. He added that he placed the bets with heart and not his wallet, terming it “more conservative” and that he would do it again without hesitation.
The Washington Nationals beat the Houston Astros 6-2 in Game 7 to take home their first World Series title.
Image Credits: reviewjournal.com