Braves win World Series
Jim “Mattress Mack” McIngvale has lost the $3.5m he wagered on MLB’s Houston Astros to win the World Series after the Atlanta Braves claimed the 2021 title.
The Braves secured the trophy in game six on Tuesday, thumping the Astros 7-0 to take the series 4-2 and deprive McIngvale of a $35.6m payout. Caesars-owned Harrah’s Ak-Chin Hotel and Casino took to Twitter before the game, confirming McIngvale was “2 wins away” from the $2m Astros futures bet he made with Caesars:
McIngvale’s Ceasars wager would have bagged him $20m – one of the largest single wins in US betting history. His other Astros-to-win bets included $1m with FanDuel at 10-1, and two bets at 16-1 with $250,000 laid down at DraftKings and $100,000 via theScore. In total, the 70-year-old could have taken home $35.6m from the $3.35m he made in wagers.
The World Series win was the Braves’ first since 1995, with the deciding game played out at Minute Maid Park in Downtown Houston, Texas. The Astros also lost the World Series in 2019, costing McIngvale another multimillion-dollar wager.
Not a total loser
Typically, McIngvale makes high-roller bets to offset, at least partly, the costs of promotions he offers at his Gallery Furniture stores in Houston. In this latest instance, customers who spent over $3,000 on select mattresses would have gotten their money back had the Astros taken the World Series.
Sports business reporter and senior executive producer of The Action Network, Darren Rovell, argued that people should think twice before labeling “Mattress Mack a loser” after Tuesday night’s result:
Rovell said McIngvale’s furniture promotion motivated people to buy $25m worth of mattresses. “Based on 40-60% margin, he probably nets between $6M to $8M after all costs,” Rovell posited.
Another Astros loss
Losing big on the Astros is something of a Groundhog Day scenario for McIngvale. In 2019, he had about $15m riding on the Astros to beat the Washington Nationals in the World Series. The Astros lost that series in seven games.
After his latest loss, Yahoo Sportsbook took to Twitter with a joke image featuring a well-known Squid Game character:
Despite his high-profile losses, McIngvale has also enjoyed a big win already this year. In February, he won $3.46m when the Tampa Bay Buccaneers (+3.50) thrashed the Kansas City Chiefs 31-9 to win Super Bowl LV.
“It feels good,” said McIngvale after his Super Bowl win. “It has been a long time.”