Action Network reported that the Gallery Furniture founder and owner has placed bets of over $3 million with various sportsbooks on the TCU Horned Frogs winning over the Georgia Bulldogs during their match taking place on January 9.
If TCU Delivers Mattress Mack Will Win $8M
Mattress Mack, who is a major Houston furniture magnate, has placed a series of wagers on the TCU Horned Frogs that have not been able to win any title since 1938. Reportedly he put on the team moneyline a bet of $2.13 million. McIngvale also placed $500,000 with Caesars at odds of +400 and $1.5 million with DraftKings at odds of +370. He did another wager of $130,000 with WynnBet with odds of +380.
In a comment for Action Network, Jim McIngvale said: “I woke up and saw Georgia beat Ohio State and then saw the TCU moneyline was like +450 and thought that was crazy.” McIngvale believes that the team has a realistic chance of winning the game given their performance this season.
In case the TCU Horned Frogs are indeed crowned champions, Mattress Mack will receive a payout of about $8 million.
McIngvale usually uses his sports betting activities to leverage various marketing campaigns and promotions at his chain of furniture stores Gallery Furniture. This time if the TCU Horned Frogs win, Gallery Furniture customers that have spent over $3,000 on mattress products at the store up to January 9 when the game takes place, will get the double amount of their purchases back.
In November McIngvale Became the Biggest Sports Bet Winner
Jim McIngvale is an avid gambler and enjoys placing big bets on his favorite Texas sports teams. However, in November he also made history by collecting winnings of $75 million after placing a substantial sum on the baseball team the Houston Astros winning the World Series against the Philadelphia Phillies. Mattress Mack’s winnings made up the biggest payout in the history of sports betting.
In connection with his high-stakes betting endeavors, McIngvale usually offers great promotions to Gallery Furniture customers and also gives money to charity causes. His Houston Astros bet was no different. As the team won, customers that spent over $5,000 on furniture and other products got double the amount back.
However, customers’ pockets were not the only ones influenced by Mattress Mack’s bet in this case. His major payout affected the revenue from mobile sports betting in Louisiana in November. His wager brought the revenue down by 206% in comparison to October, which means that profits from sports betting in the state were down by $27 million month-on-month.