Mattress Mack Bets Big on Houston Championship Run

Mattress Mack Bets Big on Houston Championship Run

In the realm of sports betting, a hefty million-dollar wager always grabs attention. The idea of placing such a bet might seem glamorous or downright crazy, depending on your perspective. However, these days, such bets don’t usually happen in flashy ways. It’s not often a high roller tossing a million in cash onto a sportsbook counter.

Consider the recent seven-figure play by Jim “Mattress Mack” McIngvale as an example. Late on a Tuesday night, he staked $1 million on his hometown Houston Cougars in the March Madness championship odds market. “I made the bet at a rest stop across the Texas-Louisiana border, a glamorous spot for legal online betting,” McIngvale quipped, discussing his major wager on Caesars Sports’ mobile app.

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As usual, McIngvale tied his significant bet to a promotion at his furniture store. The $1 million bet on Houston +750 could yield a $7.5 million profit, totaling $8.5 million. Customers who buy mattress sets worth $4,000 or more will receive those sets for free if the Cougars win the championship.

So, Mattress Mack’s bet serves as insurance for those potentially free mattresses. If Houston doesn’t clinch the title, Mack loses his million-dollar bet, but his store keeps all the money from those mattress sales.

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McIngvale could have bet on Houston at longer odds earlier in the season but opted for a wait-and-see approach until this week. “We’ve been running the promotion for a couple of months, but I wanted to see how things played out before betting,” he explained. “Then this week, Houston climbed to No. 1 in the rankings. The shorter the odds, the more painful it gets.”

Over the past couple of years, McIngvale has placed several big bets at Caesars Sports. This time was no different, and his Houston wager caused a liability shift. Last week, Purdue winning the championship was Caesars’ worst-case scenario in the March Madness odds market. But following Mattress Mack’s bet, Houston became the largest NCAA Tournament liability.

“Houston has had strong backing all season,” noted Craig Mucklow, Caesars Sports’ vice president of trading. After McIngvale’s million-dollar play, Caesars adjusted Houston from the +750 third choice to the +600 second choice, behind the +475 favorite UConn. Purdue fell to the +700 third choice.

McIngvale is optimistic about his bet paying off and leaving many customers thrilled. “I believe Houston has a solid team with a real shot,” he remarked. “March is bound to be exciting.”

And who knows? Early April might be just as thrilling, with the championship game slated for April 8 at State Farm Stadium in Glendale, Ariz.

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About Author

Ahmed Hassan

Ahmed Hassan, a distinguished Ph.D. holder in Political Science from Stanford University, is your go-to expert for in-depth political analysis. His well-researched articles provide valuable insights into the complex world of politics. Ahmed's commitment to balanced reporting and informed commentary ensures you're always up-to-date with the latest developments in the political landscape.

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