How Much Did Mattress Mack Bet

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Rovell: Mattress Mack Has At Least $12M in Bets on the Line in World Series Game 7

Wednesday, Oct. 30

Darren Rovell is spending the run-up to Game 7 of the World Series with Jim “Mattress Mack” McIngvale, who has wagered at least $11.6 million on the Astros to win the World Series as a means of hedging a promotion running at his furniture stores that carries north of $20 million in liabilities. In the morning, he decided to fly to Mississippi to place more bets. We’ll put the most recent entries at the top.

5:48 p.m. ET:We’re back from Mississippi and have arrived at the park for tonight’s game. Mack is hosting 30 kids with cancer and their parents tonight for Game 7. He did the same for World Series Game 1, buying tickets for 110 veterans. There’s obviously been a lot of focus on his betting, but his philanthropy is what makes him a local legend.

3:32 p.m. ET:VSiN’s Paul Howard reports that Mack bet another $336,000 on the Astros in Las Vegas via his advisers, professional sports bettors Anthony Curtis and Frank Betti.

I was with McIngvale when word got out of those wagers, and he said simply, “My guys told me they were gonna make some bets.”

The $336K was spread between two books — Circa Sportsbook took $270,000 of it and the Rio took the remaining $66,000. The Circa wager was at -135 odds, meaning it would profit an even $200,000. We’re unsure on the odds for the other wager, but it’s in the same vicinity, which would equate to a

$50,000 profit on the $66K investment.

Here’s a rundown, based on what we’ve been able to confirm, with the bets Mack has riding on the Astros to win the World Series:

1:57 p.m. ET:Mack accidentally wired $700,000 to the Scarlet Pearl Casino. The book agreed to take “only” a $675,000 bet, so they gave him back $25,000 in cash (pictured above). But being the convincing Texan that he is, Mack was able to get the book to accept the full $700,000 bet at -135 odds, meaning he’d profit $518,518 if Houston wins tonight.

That brings his tally to the following (among the bets we’ve been able to confirm). The DraftKings Sportsbook in the Scarlet Pearl Casino has now taken $6.2 million of the $11.625 million in bets accounted for below.

Houston-area furniture store owner ‘Mattress Mack’ lost $13M betting on the Astros

Houston-area furniture store owner ‘Mattress Mack’ lost $13M betting on the Astros

Houston-area furniture store owner ‘Mattress Mack’ lost $13M betting on the Astros

By Charles Curtis October 31, 2019 9:44 am

By Charles Curtis | October 31, 2019 9:44 am

If you thought losing $11 million on the Houston Astros would bother the man known as “Mattress Mack,” you’d be wrong.

The man who owns Gallery Furniture in the Houston area — his real name is Jim McIngvale — has spent a lot of money betting on the Astros. Not just a few bucks here and there. Through Game 3 of the World Series, it was something like $10 million.

And now that the Stros have lost to the Washington Nationals, we have a total tally. Per The Action Network, if he had won, he would have netted about $25 million.

But the lost was costly:

Jim “Mattress Mack” McIngvale, a 68-year-old furniture mogul and philanthropist, told The Action Network he lost “more than $13 million” in bets after the Washington Nationals defeated the Houston Astros, 6-2, in Game 7 of the World Series. …

McIngvale had spent the past month betting millions on his beloved Astros to win the World Series as a means of hedging a season-long promotion running at his furniture stores that promised to refund all purchases of more than $3,000 if the Astros brought home the title.

Mack has said his liabilities for the promotion are north of $20 million.

It’s quite a way to hedge, and a fun one at that. So in a funny way, he did win because he would have had to refund a bunch of furniture. It’s brilliant.

Charles Curtis

Charles is a writer for For The Win. He once dropped an easy foul ball at Shea Stadium and was booed by 35,000 angry Mets fans (and hasn’t recovered from it).

Mattress Mack loses $1 million betting against the Chiefs in Super Bowl LIV

Mattress Mack loses $1 million betting against the Chiefs in Super Bowl LIV

NFL News

Mattress Mack loses $1 million betting against the Chiefs in Super Bowl LIV

By Mark Lane February 2, 2020 11:51 pm ET

By Mark Lane | February 2, 2020 11:51 pm ET

It isn’t often that Mattress Mack takes an L, but he took one to the tune of $1 million on Sunday evening when the Kansas City Chiefs executed a 31-20 comeback against the San Francisco 49ers in Super Bowl LIV at Hard Rock Stadium.

James Franklin McIngvale, who operates the Gallery Furniture stores and goes by the furniture themed cognomen, placed a bet on the Niners to win the Super Bowl. Who knows why Mattress Mack went against Patrick Mahomes and the Chiefs? One would think the way the Chiefs whipped up on the Houston Texans 51-31 in the AFC divisional and the Tennessee Titans 35-24 in the AFC Championship Game that Mattress Mack would have sided Kansas City.

It isn’t the only fortune that Mattress Mack has lost in the last year. As any true Houstonian would, McIngvale bet $13 million on the Houston Astros to win the World Series against the Washington Nationals. Even though the Astros lost the series 4-3, McIngvale said he would do it again.

Of course, part of Mattress Mack’s bets are promotions for Gallery Furniture. If the 49ers would have won, then any customer who bought $3,000 or more Gallery Furniture or Tempur-Pedic mattresses would have received 50$ of their money back or 100% back in in-store credit.

That means it wasn’t just Mattress Mack betting on the Niners. If any of his customers were in the market for a new mattress and they spent thousands, and if San Francisco won, they would get a discount. If the customers were wrong, then they paid full price for their mattresses.

Nonetheless, Texans fans would love to see Mattress Mack place a bet on their NFL team in the Super Bowl someday. No Houston pro football team has won their league championship since the Oilers in 1961 when they defeated the San Diego Chargers 10-3. The Oilers would have made it a three-peat, but the Dallas Texans beat them in double overtime at Jeppesen Stadium. Those Texans turned out to be the Chiefs who beat the 49ers Sunday night.

‘Mattress Mack’: The man who wants to bet $10 million on the Astros

Jim "Mattress Mack" McIngvale explains why he started placing large bets on the Houston Astros to win the World Series, starting in 2017. (1:58)

A Houston furniture salesman, facing millions of dollars in refunds if the Astros win the World Series, has enlisted the help of two high-level gamblers from Las Vegas to find an American bookmaker willing to take a giant bet.

Gallery Furniture in Houston is offering to refund purchases of mattresses costing $3,000 or more, if the Astros win the World Series. Store owner Jim "Mattress Mack" McIngvale says sales spiked when the Astros picked up starting pitcher Zack Greinke at the Major League Baseball trade deadline, and then again over Labor Day weekend, when Justin Verlander tossed a no-hitter.

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"The customers aren’t dumb," McIngvale told ESPN this week "They know what’s going on. They’re hedging themselves as well."

Now, as Houston prepares to enter the postseason as consensus favorites to win the World Series, Mattress Mack is staring at a hefty liability, one so big that he’s looking to hedge his potential losses with a bet upward of $10 million on the Astros.

With just a few days left in the regular season, the Astros are around +220 to win the World Series at most sportsbooks. If McIngvale is able to get $10 million down on the Astros, he would be in position to win more than $20 million to help pay for mattress refunds.

"I’ve placed hedge bets [on the Astros] at certain places, with still a few more to go," McIngvale said. "It’s all kind of in flux. It’s like the stock market. You have to shop for the best price."

The shopping process is ongoing, and it has been an ordeal, both frustrating and enlightening for the 68-year-old McIngvale. He’s partnered with Anthony Curtis and Frank Betti, two well-known Las Vegas sharps, who have been communicating with bookmakers in Nevada and New Jersey and scoping out which places will take the biggest bet at the best price.

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Sportsbooks maintain a much bigger house edge on futures markets, like the odds to win the World Series, than on single-game wagers. Even so, Curtis said multiple bookmakers have declined to take their action on the Astros. And the other shops willing to take their action so far took much less than they wanted to bet.

"The bookmakers are being offered a very good gamble, and they don’t want to take it," said Curtis, who owns Huntington Press Publishing and runs the popular website LasVegasAdvisor.com.

This week, Las Vegas veteran bookmaker Jimmy Vaccaro of the South Point sportsbook did take a $200,000 bet from McIngvale on the Astros at +250. McIngvale and his team, however, are eyeing a New Jersey bookmaker in hopes of placing a much bigger bet, potentially upwards of $10 million.

FanDuel, which operates out of the Meadowlands Racetrack in New Jersey, has offered to take up to $10 million on the Astros from McIngvale, according to Curtis, but first must get approval from the state regulators. In early September, FanDuel filed a formal request with the New Jersey Division of Gaming Enforcement. The decision was still pending as of Tuesday.

"It seems to me that some of the places in New Jersey — let’s put it this way — are a little bit more aggressive, and willing to take larger amounts than some of the guys are out west," McIngvale said. "There are new kids in town."

The sports betting landscape in the U.S. has evolved dramatically since McIngvale first began his sports-themed promotions.

In 2015, after receiving assurance from two employees who were Peyton Manning fans, he offered to refund purchases if the Seattle Seahawks beat the Denver Broncos in Super Bowl XLVIII. McIngvale expected to do only $2-$3 million in sales during the promotion that ran for 10 days.

"Well, we did about $9 million in volume," McIngvale recalled. "We sold out of furniture on the Saturday night before the Super Bowl and had to close the store."

McIngvale did not place any hedge bets that year and went into the Super Bowl needing the Broncos to win to avoid refunding $9 million in purchases.

Mattress Mack on Losing ‘More Than $13 Million’ in Bets: ‘I Feel Like I Hedged Perfectly’

Darren Rovell. Pictured: Mattress Mack

  • When the Washington Nationals beat the Houston Astros in Game 7 of the World Series, one of the largest monetary bets on a single team in sports history came to an end.
  • Darren Rovell caught up with Jim "Mattress Mack" McIngvale immediately after the game that cost him "more than $13 million" in bets.

HOUSTON — The sweat heard ’round the world is over.

Jim “Mattress Mack” McIngvale, a 68-year-old furniture mogul and philanthropist, told The Action Network he lost “more than $13 million” in bets after the Washington Nationals defeated the Houston Astros, 6-2, in Game 7 of the World Series.

The wagers would’ve profited approximately $25 million, according to McIngvale.

McIngvale had spent the past month betting millions on his beloved Astros to win the World Series as a means of hedging a season-long promotion running at his furniture stores that promised to refund all purchases of more than $3,000 if the Astros brought home the title.

Mack has said his liabilities for the promotion are north of $20 million.

“I feel like I hedged perfectly,” McIngvale told The Action Network while sitting in his car after Game 7. “The worst my customers got were great mattresses, the best would have been great, free mattresses. I would have loved for the Astros fans to win, but we had two bad games.

“My mattresses obviously had profit baked into them. I would do this again tomorrow — and I probably will. It’s fun to be part of the greatest story in gambling history.”

McIngvale’s month-long journey took him to at least nine different sportsbooks in three different states, traveling the country by private jet, many times the morning before attending an Astros game in person, to drop more cash on his hometown team.

The new-age of sports betting — which now includes 13 states taking legal wagers — provided Mack more outs as he tried to hedge his promotion, but still not as many as he would’ve liked.

“I would like to thank Beau Rivage for not taking my $500,000 bet today. Unibet for always having the highest odds against the Astros, causing me to bet elsewhere. FanDuel for cutting me off. You really did save me money!

“I would also like to thank the Scarlet Pearl Casino in Mississippi for taking all my action and being incredibly gracious and accommodating. They outdid the big boys.”

By our count, the Scarlet Pearl Casino, which has a DraftKings Sportsbook inside, stands to make the most money off McIngvale’s bets.

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