When Houston teams are involved in major sports championships, Jim “Mattress Mack” McIngvale typically bets big money…and this year is no exception.
The millionaire Houston furniture icon bet $1 million on the Houston Cougars to win the NCAA Tournament. With +750 odds, McIngvale will win $7.5 million at Caesars Sportsbook if the Cougars win it all during March Madness.
According to the New York Post, Mattress Mack bet a combined $4.05 million on Houston teams in 2023.
It’s been an up-and-down couple of years for McIngvale regarding his wagers on Houston sports teams. He lost $500,000 after betting on the Houston Texans to defeat the Baltimore Ravens in the AFC Playoffs, and he lost $1 million when the Texas Longhorns lost to Washington during the College Football Playoff. He also lost $7.9 million when the Astros lost to the Rangers in 2023. However, he had more than enough cushion for those losses after winning a whopping $75 million after the Astros won the World Series in 2022.
Jim “Mattress Mack” McIngvale throws t-shirts into the crowd as the Houston Cougars play the Oral Roberts Golden Eagles at Fertitta Center on November 14, 2022, in Houston, Texas. (Bob Levey/Getty Images)
Not that McIngvale is only thinking of himself with these wagers. His customers benefit as well. The promotion goes like this: Customers purchase a certain amount at his store. If the teams he bets on win, then the items become free. All the customer has to do is bring in a receipt and collect their refund.
Mattress Mack and his customers seem well-poised for success this year. The Houston Cougars are currently the #1 team in the country with a 24-3 record.