How Mattress Mack can risk millions gambling and never lose
Jim “Mattress Mack” McIngvale might be the smartest sports bettor in the country, while simultaneously being the most prolific.
McIngvale is a furniture salesman by day and sports bettor by night who literally can’t lose when he places a wager.
He’s known for betting millions of dollars on single bets, including winning the biggest sports bet in recorded history, a clean $75 million win on the Houston Astros to win the World Series in 2022.
McIngvale currently has a $1 million wager on the Houston Cougars to win the 2024 NCAA Tournament.
He can lay these massive bets down as a promotional opportunity, telling his customers if they purchase a mattress for more than $4,000, they will receive a full refund if the bet cashes.
McIngvale’s $1 million bet on the Cougars would profit $7.5 million if they do win the tournament, which would likely cover the free mattresses he gives out and then some.
If customers purchase more product than the bet covers, Mack will likely add to his betting position on the Houston Cougars to act as a hedge.
In 2023, the famed sports bettor had $4.05 million on the No. 1 seed Cougars to win it all.
He came to this number by adding bets in five increments. First, a $1.05 million bet on FanDuel Sportsbook prior to the tournament – similar to his February bet this year.
Then, two additional $1 million wagers on the Cougars on DraftKings (+900) and Caesars (+800), before wagering $500,000 at +900 at Barstool Sportsbook (Now ESPN BET) and with 10/1 odds at BetMGM.
He likely bet so much on Houston because the customer interest was so extreme that he needed to match the sales total to the maximum win amount.
His $4.05 million in bets were worth $26.5 million in profits if the Cougars – who were eliminated in the Sweet 16 against Miami – ran the table and won it all.
