Mattress Mack Is Going for Another Multimillion-Dollar Payday With Houston NCAA Bet

  • The furniture tycoon placed $500,000 at +1000 on the Cougars to win the NCAA Championship
  • He placed the bet in person at the BetMGM Sportsbook in the Beau Rivage Resort and Casino
  • Houston-based McIngvale has to go to other states to place wagers as betting isn’t legal in Texas
  • He recently won a record $75m after betting on the Houston Astros to win the World Series
Houston Cougars
Mattress Mack has placed a $500,000 bet on the Houston Cougars to win the 2023 NCAA Championship. [Image: Shutterstock.com]

Not resting on laurels

Not long after winning a record $75m betting on the Houston Astros to win the World Series, Mattress Mack is at it again.

he will make an appetizing $5m if the college basketball bet is successful

Jim “Mattress Mack” McIngvale flew to Mississippi on Tuesday to place a $500,000 wager on the Houston Cougars to win the NCAA Championship in spring 2023 at odds of +1000. That means he will make an appetizing $5m if the college basketball bet is successful. The finals of the March Madness tournament will take place at Houston’s NRG Stadium.

Donning a Houston cap and a World Series hoodie, Mack visited the Beau Rivage Resort and Casino to make the wager. He took pictures and spoke with fans as he walked through the property in Biloxi before placing his bet at the BetMGM sportsbook.

Going out of state

As sports betting is not currently legal in Texas, Mattress Mack has to fly to other locations to place his legal sports bets. The flight to Biloxi from Houston is only about one hour, with sports betting legal in Mississippi since 2018. It is also the furniture tycoon’s home state, despite him setting up shop in Houston.

There have been instances in the past in which Mattress Mack has spread his wagers on a given event across multiple sportsbooks. It is unclear if this will be the case with his Cougars wager, but there is plenty of time before the tournament starts for him to place further wagers and increase his potential payout.

The Cougars have never won the NCAA Championship, finishing runner-up on two occasions in the 1980s. The team’s best finish in recent years was losing at the final four stages in 2021, but they have started the new season strongly and will get home advantage if they make it to the finals.

Off the back of a record

Earlier this month, Mattress Mack won the biggest bet payout on record at $75m. He is now an icon in the US sports betting space, often running promotions for his furniture store relating to his multimillion-dollar wagers. Most of the money from his recent Houston Astros win went back to customers in the form of refunds for mattress purchases.

thousands of people waiting in line to claim back their money

Speaking to the media recently, he said that there were still thousands of people waiting in line to claim back their money following the Astros winning the World Series. He said the cash back would help people pay for the college tuition of their kids and even buy more furniture.

The record $75m payout came from bets placed at various sportsbooks. Caesars Sportsbook took the biggest hit, ultimately writing a check for $30m. He also placed bets with Betfred, Unibet, BetMGM, and Barstool.