Jim “Mattress Mack” McIngvale has had some impressive victories, but that does not make his betting prowess invulnerable, and nothing better put that into full view than his latest botched bet in favor of the Texas Longhorns at the Sugar Bowl.
Before the Longhorns big game against the Washington Huskies, McIngbale placed a $1 million wager for his beloved Texas team to win the National Championship — a first since 2005 when Vince Young led the team to victory.
“On Friday night, I drove to Louisiana to bet on my phone,” McIngvale told FOX Sports. “I have an enormous passion for UT football.”
Unfortunately, the Huskies won Monday night’s close game with a score of 31-37. Had McIngvale’s bet paid off, he would have hit the jackpot.
“If Texas pulled off a comeback in the Sugar Bowl, McIngvale’s $1 million bet at +270 odds at Caesars Sportsbook would have resulted in a hefty $2.7 million profit. If the Longhorns went on to win next week’s championship game, he would have received a total estimated payout of $3.7 million,” Fox News noted.
The sports betting company, The Action Network, estimates that McIngvale has lost $10.25 million in sports wagers over the past three years.
Despite the losses, McIngvale’s stunning victories should not be discounted.
“McIngvale has enjoyed some massive wins during his highly-publicized sports betting career. The Astros defeated the Philadelphia Phillies in the 2022 World Series, which allowed McIngvale to collect an unprecedented $75 million in winnings,” noted Fox News.
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