A prolific legal sports betting figure has suffered a heavy loss.
Jim “Mattress Mack” McIngvale has lost at least $6.9 million following the Houston Astros’ 11-4 loss on Monday night against the Texas Rangers in the American League Championship Series.
McIngvale, who is notorious for large wagers, could have pocketed roughly $43.4 million from various retail sportsbooks and online betting sites if the Astros had captured the World Series, according to Reuters.
Despite the loss, the Astros have fared well for McIngvale. Last year, the Texas furniture salesman won roughly $75 million when the Astros clinched the 2022 World Series.
As a result of the win, McIngvale was issued the “largest payout on a single sports bet in legalized sports wagering history,” according to Caesars Sportsbook. McIngvale, who had action across several sportsbooks, wagered $3 million at 10/1 odds on the Astros to win the World Series. His action at Caesars would win him a record $30 million for a single sports wager.
PENN Entertainment’s Barstool Sportsbook, which is soon to be rebranded to ESPN Bet, also took a big hit from a McIngvale wager. The operator paid McIngvale $10 million following a $2 million wager. Other sportsbooks that paid the salesman included BetMGM and WynnBet.
McIngvale’s affinity for betting has also translated to increased reach for his furniture business.
“It's all about making furniture-buying more interesting for the customers. So it's a win-win for the community and a win-win for us,” the salesman told NPR earlier this year.
Not just baseball
McIngvale has also placed large wagers on America’s most popular professional sports league — the NFL. In February 2022, McIngvale placed roughly $9.5 million worth of wagers on the Cincinnati Bengals to win Super Bowl LVI against the Los Angeles Rams at SoFi Stadium.
The Rams would defeat the Bengals 23-20 in front of 70,000 fans. Mack’s action on the Bengals would have won him $16.2 million as the Bengals entered the contest as slight underdogs.
