‘Mattress Mack’ places $500,000 bet on the Houston Cougars to win the NCAA Tournament this March
‘Mattress Mack’ strikes again: Notorious Houston gambler places huge $500,000 bet on the Houston Cougars to win the NCAA Tournament this March – just days after earning a record $75m payout when the Astros won the World Series
One of the highest-rollers in the sports gambling world isn’t done after collecting the biggest payout in history and is staying true to his home town roots.
Furniture store magnate Jim McIngvale – better known as ‘Mattress Mack’ – has put his money behind head coach Kelvin Sampson and the University of Houston Cougars men’s basketball team to win the NCAA Tournament.
He placed a more reasonable bet of only $500,000 on the Cougars at 10-1 odds, meaning he’d collect $5 million if Houston won the title.
Just last week, Mattress Mack cashed in on his winnings in Las Vegas and was seen moving the rewards in a wheelbarrow to a plane before flying back to Texas.
Mattress Mack, otherwise known as Jim McIngvale, showing off some of his recent winnings
McIngvale turned his betting focus to college basketball and the Houston Cougars men’s team
McIngvale admitted his gambling habit has helped him gain notoriety, which has helped him with promoting his Galleria Furniture stores.
‘I make these bets because we do promotions at the furniture store. Like if the Astros win the World Series you get your money back,’ McIngvale told WLOX.
‘I won $75 million on that bet, gave back $73 million to the customers and the other $2 million was expenses. It enables us to run these great promotions.
‘People love them especially with local teams like the Houston Astros and Houston Cougars. We’re having fun with these sports promotions, they work very well and it makes us relevant as a furniture store.’
The local legend was involved in the Houston Astros’ bus parade around the Texas metropolis
He placed wagers on the Astros winning the Fall Classic across multiple sportsbooks.
The owner of the Houston-area Gallery Furniture, who threw the first pitch in Game 6, bet $3m early in the season on the Astros to win the World Series at Caesars at 10/1 and also placed $1m at WynnBet, according to Darren Rovell.
In July, he upped the ante by putting down four more bets, two worth $2m and the others $1m.
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