Another Massive Loss for Mattress Mack

Another Massive Loss for Mattress Mack

We all lose the occasional bet but when that happens to Jim McIngvale, it’s big news. Known better as ‘Mattress Mack’ (he owns a furniture store), he bets millions of dollars but rarely gets a winner. That was the case at the weekend as he lost around $9 million on the Super Bowl.

His first big bet came three years ago. He decided that it was the Houston Astros who were going to win the World Series. So convinced was he that they were going to win that he bet $3.5 million. He wasn’t content with one bet though and by the time the Astros faced the Washington Nationals, his bets had reached nearly $13 million.

It’s often said that you should bet with your head not your heart. McIngvale owns the largest furniture store in Houston, so it was natural that he’d bet on the Astros. He didn’t just place bets on them though.

He’d also been running a promotion that would see him have to refund $15 million to his customers if Houston won the World Series. It was therefore good and bad news when they lost to the Nationals.

‘Mattress Mack’ loves to bet on the NFL. He’s valued at around $300 million so again there are no small wagers being placed. 2020 saw him bet $1 million on the Houston Texans beating the Kansas City Chiefs, again Houston let him down. Then he put another million on the Tennessee Titans to beat Kansas.

Again, the Chiefs prevailed and that was another million dollars lost. He must have hated the Chiefs by now, but worse news was on its way. A further $1 million was placed on the San Francisco 49ers to beat the Chiefs at the Super Bowl and he lost again. Why not just bet on the Chiefs?

Back in the world of baseball, he placed a relatively small bet for him in 2020. At odds of 30/1, he put $10,000 on Houston to win the World Series and again they lost.

Surely, he must get a win sooner or later? Well, for the 2021 Super Bowl, he learned some important lessons. He didn’t bet on Houston and instead placed $3.46 million on Tampa Bay to cover the spread against the Kansas City Chiefs. Yep, he was still betting on the Chiefs to lose. This time he was a winner and won $2.72 million. However, he did have to give furniture refunds since Tampa Bay won.

There was to be no winning streak though. March 2021 saw him backing another Houston team. He put $1 million on the Houston Cougars to win the NCAA Tournament but they lost. More losses were incurred in the Kentucky Derby. He put $4 million on Essential Quality but the runner could only finish fourth.

His pick was only just over a length behind the winner Medina Spirit (sadly no longer with us) but could have won but for being bumped twice when coming out the stalls.

This year hasn’t seen his luck improve. He lost $6.2 million on the College Football Playoff National Championships last month. Then came the Super Bowl and he just couldn’t pick the winner. He placed bets on New England and Tennessee but both lost. Then more bets were placed on Cincinnati and again he was a loser with nearly $9 million lost.

No refunds to make on furniture sold but it was another weekend when his betting plans went astray. More are likely to be on their way.