‘Mattress Mack’ Loses Millions On Astros 2023 World Series Bet

When it comes to his large wagers, Jim “Mattress Mack” McIngvale has quite the record in recent years. The Houston Astros‘ failure to win the World Series means McIngvale will receive a large loss of money.

‘Mattress Mack’ Loses Millions On Astros 2023 World Series Bet

The Astros faced the risk of missing out on the postseason in late September. At that point, McIngvale disclosed that he had wagered $1 million at Caesars Sportsbook on the club to win the World Series at odds of +1100. The Astros have never faced longer odds than they did then during the 2023 season.

As part of marketing for his Gallery Furniture company in Houston, the furniture billionaire has made himself the center of attention during this decade-long run of Astro’s success by consistently betting on Houston to win the World Series almost year.

As per Vegas Insider writer Patrick Everson, the owner of a furniture company in the Houston region lost a minimum of $7.9 million on wagers related to the Astros. McIngvale’s total winnings would have been $50.9 million if the Astros had prevailed in the World Series.

McIngvale placed the following bets on the Astros to win the World Series throughout the year:

  • Spring training: $1.9 million at +600 to win $11.4 million at Caesars Sportsbook
  • Sept. 15: $2 million at +600 to win $12 million at DraftKings
  • Sept. 27: $1 million at +1100 to win $11 million at Caesars Sportsbook
  • Pre-ALDS: $2 million at +450 to win $9 million

In order to hedge his risk and give back to the community, Mack utilizes the money he receives if the Astros win the World Series as promotional cash. He does this by offering his devoted consumers free merchandise.

When the Astros defeated the Phillies in the World Series the previous year, Mack was awarded a stunning $75 million.

Mack was quite cryptic about how much he had on the line this year, implying that he had probably gambled more on Houston. Nevertheless, he had at least $7.9 million in bets on the Astros to win the World Series.

McIngvale will have to watch the World Series from the sidelines this year, but because the NCAA Tournament and Super Bowl are scheduled to happen within the next six months, it’s probable that we’ll see him making some significant wagers soon.

 

 

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