Mattress Mack Places $1m Bet at Lake Charles’ Horseshoe Casino Opening

  • Mattress Mack placed a $1m bet at 8-1 on Houston to win the NCAA men’s basketball title
  • The bet was made at the grand opening of the Horseshoe Casino in Lake Charles
  • LGC chairman Ronnie Johns calls McIngvale the most famous US gambler
  • Mattress Mack had already placed $1.5m in bets on the Houston Cougars before this one
Basketball with March Madness logo
Mattress Mack placed a $1m cash bet on the Houston Cougars to win the men’s NCAA basketball championship during the grand opening of the Horseshoe Casino in Lake Charles, Louisiana. [Image: Shutterstock.com]

Celebrating the grand opening

Successful businessman and high-stakes sports bettor Jim “Mattress Mack” McIngvale placed a $1m bet at the opening of the newly renovated Horseshoe Casino in Lake Charles, Louisiana. The over-the-counter bet through the Caesars Sportsbook was on the Houston Cougars to win the NCAA men’s basketball tournament (March Madness) at odds of 8-1.

he likes Caesars for placing sports bets because they take big bets

Speaking about the wager, the Houston-based businessman said: “It’s a risky bet, but no guts, no glory.”

McIngvale said that he likes Caesars for placing sports bets because they take big bets, unlike many other casinos. Referring to the opening of the Horseshoe Casino, Mattress Mack said that the people in Louisiana offer great hospitality, as do the casinos.

A high-profile bettor

Louisiana Gaming Commission (LGC) chairman Ronnie Johns welcomed the presence of Mattress Mack at the grand opening, saying that it will help to increase business at casinos in the state. Johns labeled Mattress Mack as “the most famous gambler in America.”

The Horseshoe Casino has reopened for the first time since the property was damaged during Hurricane Laura in 2020. The property’s owner, Caesars Entertainment, has invested significant money in the renovations of the casino resort formerly known as the Isle of Capri Lake Charles.

Lake Charles is only a two-hour car ride from Houston; many people making the journey to gamble at Louisiana casinos. Mattress Mack posted a video on Twitter showing him placing the $1m cash bet:

A track record of big bets

Mattress Mack has already placed $1.5m in bets on the Houston Cougars winning the NCAA Championship, which begins in March. With the Final Four taking place at NRG Stadium in Houston, Mattress Mack would be in line for a $22m payout if the Cougars take care of business.  

biggest-ever sports betting payout when he netted $75m

Mattress Mack has had some great success with his high-stakes sports bets recently. In November, he received the biggest-ever sports betting payout when he netted $75m after betting on the Houston Astros to win the MLB World Series.

Mattress Mack usually runs promotions at his furniture store in conjunction with his massive bets. With the record-breaking wager win in November, customers who had spent at least $3,000 during the promo period were able to get a full refund.