Play big to win big
Jim “Mattress Mack” McIngvale is betting big on a hometown team again.
As reported by Caesars Sportsbook, the Houston-based furniture mogul placed a $1m bet on the Houston Cougars to win the NCAA Division I men’s basketball tournament.
he’d profit $7.5m if the Cougars win the tournament
McIngvale, known for his furniture store and extravagant sports bets, got the Cougars at +750 odds, meaning he’d profit $7.5m if the Cougars win the tournament.
Houston is currently the top-ranked team in the country in both the AP and Coaches polls and are +750 at most sportsbooks to hoist the trophy in April (down to +600 at Caesars). The Cougars have appeared the Final Four six times – 1967, 1968, 1982, 1983, 1984 and 2021 – but have never won a national title.
You win some, you lose some
McIngvale is no stranger to placing gigantic sports bets.
In 2022, the furniture mogul won a record $75m when MLB’s Houston Astros won the World Series, defeating the Philadelphia Phillies in six games.
Following on from that successful win, McIngvale dropped $1.9m on the Houston Astros in 2023 to repeat as the World Series champions. If they won, he stood to gain more than $70m. Unfortunately for McIngvale, the Astros failed to defend their title, losing to the Texas Rangers in seven games.
Among his many other large wagers, McIngvale bet $5m (the largest bet placed at a sportsbook in the US) on the Cincinnati Bengals to beat the Los Angeles Rams in Super Bowl LVI in 2022. He lost that one, as well.