Mattress Mack’s $10 million bets on the World Series could net him a record $75 million

by | Oct 28, 2022 | Business

Mattress Mack is at it again.Jim McIngvale, the Texas furniture salesman who famously hedges sports bets with furniture promotions, said he has placed a total of $10 million of bets on his beloved Houston Astros in this year’s World Series. And if he wins, the payout would be a historic $75 million.”Winning the bet is very important, but more importantly, winning the bets allows us to give money back to all of our customers who bought about $75 million worth of furniture,” McIngvale told CNBC.Game 1 between the Astros and the underdog Philadelphia Phillies is scheduled for Friday night. “The excitement is real here in Houston,” he said.McIngvale, 71, is the owner of Gallery Furniture in Houston. As part of a marketing campaign, he routinely offers his customers a special promotion around key sporting events. This time, If you spend $3,000 or more on a mattress, your purchase is free – if the Astros win.”If the bet hits, then I’ll get the $10 million in capital back that I invested, so I don’t have any costs in the promotion,” he said. “And if the Phillies win, then I’m out the $10 million, so I have a vested interest in this either way, but my real interest in making sure the customers win,” he added.”This would be the biggest payout in the history of any sports bet, anytime, anywhere,” said Ken Fuchs, Caesars’ head of sportsbook. Mack placed the largest of his World Series bets, $3 million, on May 13 with Caesars at 10-1 on the Astros to win.McIngvale said he’s also working with Caesars and Sealy Mattress to provide new mattresses to first responders, military veterans and active duty military members in Houston and Philadelphia as a way to celebrate hi …

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