Mattress Mack loses millions in bets, but says he would do it again
HOUSTON – The Houston Astros aren't the only ones taking a loss after Game 7 of the World Series. Jim 'Mattress Mack' McIngvale placed nearly $12 million in bets on Houston winning the series, and he won't be receiving a payout from the casinos.
McIngvale told The Action Network his wagers would’ve profited approximately $25 million, but unfortunately the Astros were defeated by the Washington Nationals, 6-2, in Game 7.
"My heart is broken," McIngvale said. "The best thing that could have happened for the business was to give the refunds because then people talk about that for 20 years. When we did it in 2017, they are still talking about it."
McIngvale spent the month of October traveling by private jet to nine sportsbook locations, placing single bets as large as $3.5 million.
Through the process, McIngvale did face some difficulties as some casinos denied his bets.
McIngvale told The Action Network “MGM won’t take my bet and they are the official betting partner of the league. For Game 7 of the World Series. I thought that was the most important baseball game of the year.”
The owner of Gallery Furniture made a deal with his customers if the Astros won the World Series, their purchases would be "FREE, FREE, FREE."
In 2017, the Astros earned their first World Series champions title, which resulted in McIngvale refunding $13 million to Gallery Furniture customers as a part of his "Win It All, Get It All" promotion.
According to The Action Network, McIngvale said he hedged perfectly.
“The worst my customers got were great mattresses, the best would have been great, free mattresses," McIngvale told The Action Network after Game 7. "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."
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