It doesn’t appear like there’s a sporting occasion that Jim “Mattress Mack” McIngvale received’t wager on. The Houston-area furnishings mogul made one other seven-figure wager, however this time on the NCAA males’s basketball match.
According to a report from ESPN Chalk, McIngvale flew from Texas to Colorado final Friday to log into his DraftKings account and wager $1 million that the University of Houston Cougars would win the match. The wager was supplied at 9-1 odds, that means if McIngvale wins this wager, his DraftKings account can be $9 million richer.
McIngvale has grow to be a little bit of a personality within the sports activities betting world as he’ll hyperlink his enterprise together with his love of sports activities playing. He initially gained notoriety within the sports activities betting neighborhood within the fall of 2019 when he wagered $13 million on the Houston Astros to win the World Series. The Washington Nationals defeated the Astros in seven video games.
He made the bets as a hedge towards a promotion he ran at his furnishings shops, which supplied clients a full refund on all mattress purchases greater than $3,000 if the Astros received all of it. He ran an analogous promotion in lieu of the 2021 Super Bowl. McIngvale supplied the identical proposition to his clients if the Tampa Buccaneers defeated the Kansas City Chiefs within the Super Bowl.
McIngvale wager $3.46 million on the group from Tampa Bay to offset any potential refunds. The Buccaneers received by a closing rating of 31-9.
He at the moment doesn’t have a promotion operating at his retailer, however that doesn’t imply it should keep that approach. McIngvale advised ESPN that he made the wager partly as a result of he was serious about beginning one, this manner, he would already be hedged towards it.
“I wanted to get ahead of it in case I decided to do a promotion,” stated McIngvale. “After looking at the bracket, I think U of H has as good [a chance] as anybody to make it through the Final Four, so it’s an exciting time for all of Houston.”
The Cougars defeated the Syracuse University Orange over the weekend within the Sweet 16 and are one win away from a Final Four look. They are scheduled to play Oregon State Monday night within the Elite 8.