Mattress Mack Loses $3m+ in Bets After College Football Championship Blowout

  • Mack backed TCU to beat the Georgia Bulldogs in the College Football Championship game
  • The Bulldogs won the game 65-7 after going into the fixture as strong favorites
  • Mattress Mack was looking at a total return of about $8m if his bets proved successful
  • He won a record-breaking $75m last year after betting on the Astros to win the World Series
Mattress Mack
Mattress Mack lost more than $3m betting on TSU to beat Georgia in the College Football Championship.

Not his day

Prominent businessman and high-rolling sports bettor Jim “Mattress Mack” McIngvale has lost more than $3m wagering on college football. The Texas-based furniture store tycoon staked his money on Texas Christian University (TCU) beating the Georgia Bulldogs in Monday’s College Football Championship Game.

Bulldogs ended the game 65-7 victors

Defending champions Georgia went into the game as the strong favorite to beat the Horned Frogs. The Bulldogs ended the game 65-7 victors in a blowout result.

Mattress Mack spread his multimillion-dollar wager across different sportsbooks, including WynnBET, DraftKings, and Caesars Sportsbook. To bring awareness to his big bets, Mattress Mack even took part in a hype video released on Twitter:

Hedging his bets

Mack placed about $1m on TCU to win the fixture with a +13 points handicap. The remainder of the money went towards backing TCU on the moneyline. If all the bets were successful, McIngvale would have profited by about $8m.

As is typical with his big bets, Mack aimed to hedge any potential losses from the TCU wagers with a simultaneous promotion at his furniture store. Each customer who bought a qualifying mattress set worth at least $3,000 during the promotional period would get double their money back if TCU proved victorious in the big game.

The TCU Horned Frogs were one of college football’s big surprises this past season, having caused numerous upsets on their way to winning the Big-12 Championship Game and the Fiesta Bowl.

A track record

Mattress Mack has a penchant for placing high-profile sports bets, typically featuring a team from Texas. His most noteworthy win came last year when he took home a record-breaking $75m after betting on the Houston Astros to win the MLB World Series. His various bets totaled $10m, with the average odds reaching +750.

$9.5m in losses on the Super Bowl

Throughout 2022, he appeared to lose more bets than he won, including $9.5m in losses on the Super Bowl. He is already looking to the year ahead, having placed multiple seven-figure wagers already on the Houston Cougars college basketball team winning this year’s NCAA Championship.

Leave a Reply

Your email address will not be published. Required fields are marked *