- Legal States
Erik Gibbs January 7, 2022 3 min read
Mattress Mack Is at It Again, Betting Big on College Football
He’s probably one of the best-known sports bettors to come out of Houston, TX. He may not always get his calls right, but he knows how to attract attention. Jim McIngvale, a furniture store owner affectionately known as Mattress Mack, is no stranger to million-dollar bets. He’s at it again, this time putting money on the 2022 College Football Playoff National Championship next Monday.
Mattress Mack Likes the Underdog
Mattress Mack has placed a $1.2-million bet on the Alabama Crimson Tide to defeat the Georgia Bulldogs in the championship game. Bama is ranked number one and George number three; however, Georgia is favored to win.
Currently, the odds are -135 for Georgia and +115 for Alabama. McIngvale would be awarded $1.5 million if he wins the bet placed through Caesars Sportsbook
Mattress Mack told reporters that Georgia being listed as a favorite early on was enough to grab his attention. As he has done in the past, he has created a promotion in his stores that ties Alabama to it.
McIngvale regularly uses the betting market as a way to reduce risk when promoting furniture at his store. For Super Bowl LV, he put up $3.46 million for the Tampa Bay Buccaneers to cover the 3-point spread against the Kansas City Chiefs. The Bucs were the underdogs in that game.
To help cover the bet, he gave customers who spent $3,000 or more on furniture a refund on their purchase if the Bucs covered. Not only did they cover, but they beat the Chiefs, 31-9.
New Game, Same Deal
A similar deal has been put in place for mattress buyers for the upcoming college football championship game. McIngvale stated that he anticipates selling three to four million mattresses in the week leading up to Monday’s game.
These kinds of big bets are not unfamiliar to Mattress Mack. For the 2019 World Series between the Washington Nationals and Houston Astros, he had $11 million in play. That World Series was lost by the Astros. He has made several big-ticket bets over the years, although his win rate hasn’t been spectacular. He makes up for it in store sales, though.
The Bulldogs are a slight favorite to win the national title game despite a loss of 42-24 to the Tide in their SEC championship game. In their semifinals of the College Football Playoffs, Georgia beat Alabama and Cincinnati.
For Monday’s game, Georgia is currently on a spread at -2.5 with the Over/Under at 52.