$4.5 million Bet placed on the Bengals

$4.5 million Bet placed on the Bengals

Do you get nervous when placing a big bet? Imagine if you bet millions of dollars on a match and weren’t even backing the favourites? That’s the case with Jim ‘Mattress Mack’ McIngvale from Houston, USA.

He owns the Texas Gallery Furniture stores, so has a few dollars in the bank. He’s taken $4.534 million of his fortune and bet it on the Cincinnati Bengals beating the Los Angeles Rams at Super Bowl LVI on February 13 (lucky for some?).

It’s the single-largest legal mobile sports bet in history. He made it with the Caesars Sportsbook app but was unable to do so in his own state. Instead, he had to go across the border to Louisiana to make the amazing wager.

He managed to get odds of +170 on the Bengals. In fractional odds (old habits die hard), that’s 17/10. The probability of his bet winning is 37%, so that means there’s a 63% chance of him losing over $4 million. If his bet is a winner, then McIngvale will win $7,707,800.

It wasn’t that straightforward a task placing his bet. “I had to make like twenty $200,000 bets to make it work,” he told ESPN. “But I want to thank Caesars for taking it.

Largest NFL Wager

This isn’t the largest ever bet on the Super Bowl. Back in 2002 when mobile phones were used to make phone calls, a gambler placed a bet of $4.9 million on the St Louis Rams (now the Los Angeles Rams) to beat the New England Patriots at Supe Bowl XXXVI. The bet was at odds of -900 (1/9) but the Patriots won 20-17. St Louis took an early 3-0 lead in the match, oh for cash out!

This isn’t the first time that the furniture dealer has made an astonishingly large bet. Last year he bet $3.46 million on Tampa Bay winning the Super Bowl but he’s not been doing too well lately. January saw him lose $4.7 million, including an unsuccessful bet of $2.7 million on Alamba in a national championship football match.

It didn’t get much better the following week. He’d bet $2 million on the New England Patriots to win the Super Bowl and they lost in the first round of the play-offs. Good job he’s selling lots of mattresses.

Ken Fuchs is the head of sport at Caesars Sportsbook. He said that they “love taking epic wagers on massive events like the Super Bowl.” They probably enjoy it even more if the bets don’t win. He made an attempt at humour by ‘joking’ “he (Mattress Mack) can enjoy spent time on OUR mattresses at Caesars anytime he wants to stop by.”

Why bet so much on the Bengals?

Joe Burrow is in great form for them and he is one several players in the Bengals squad to have college roots in the state of Louisiana. The Rams are the favourites to win the Super Bowl and have the advantage of playing this match on their home ground, just as Tampa Bay did last year when winning.

McInvigale must love the Bengals as his company has a special offer for their fans. If they spend at least $3,000 on recliners or mattresses at Gallery Furniture and the Bengals win, they’ll get a full refund. It’s a promotion he’s run in the past when placing big bets.

It’s going to be a nervous time for this gambler. If the Bengals are losing after the second quarter, he may well not enjoy the half-time break that much! Mind you the performers include Dr Dre and Snoopy Dogg, so perhaps no one will.