Jim “Mattress Mack” McIngvale is something of a legend in sports betting. The owner of the Texan Gallery Furniture retail chain is known for his fervent love for professional sports, his generosity toward his clients and his ludicrous sports wagers. One might think such a person would be one of the first to support the legalization of sports betting in Texas. And they’d be wrong.
“All that Glitters Is Not Gold”
Lawmakers in Texas are once again trying to get a local gambling and sports betting industry going. Currently, there are separate efforts to legalize both casino resorts and mobile sports betting. The sports betting bill was proposed by Senator Lois Kolkhurst a few days ago.
The new legislation follows a failed attempt to legalize sports betting in 2021. The earlier bill managed to secure the backing of some notable lawmakers and many notable sports franchise owners but still failed to pass.
Lt Gov Dan Patrick has been historically known for opposing sports betting. However, some optimistic proponents of wagering believe that his close ties with Kolkhurst might lead him to change his stance.
While Patrick may (or may not) change his opinion on expanding the state’s gambling industry, Mattress Mack is certain that Texas is not ready for sports betting – at least not in the proposed format. According to McIngvale, “all that glitters is not gold.”
McIngvale Elaborates on His Stance
Mattress Mack’s biggest concern is that the measure’s proponents are overestimating the revenues Texan gaming companies will earn. In an interview with the Houston Chronicle, the furniture mogul said that lawmakers should carefully examine the facts.
As for his more personal reasons, McIngvale shared that he knows how much of an impulsive bettor he can be. However, each time he wants to place one of his famous wagers, he has to drive to Louisiana, which inhibits his urges, protecting him from harm. He concluded that driving to Louisiana is not that much of an inconvenience and that he actually prefers things to remain that way.
In November, Mattress Mack made headlines by becoming the biggest betting winner in history, earning $75 million from his clever bets on his favorite Houston Astros. Against all odds, the team won the World Series, resulting in what’s probably the biggest payday in Mack’s life.
To this day, Mack continues his sports betting endeavors, winning some bets and losing some.