One of the Lone Star State’s most notorious gamblers lost $2 million betting on his in-state college football team over the last month that he would’ve used the winnings on for his Houston area furniture stores. Jim “Mattress Mack” McIngvale bet $1.5 million on the Texas Longhorns to win the national championship at Caesars Sportsbook in December, according to a Las Vegas Review-Journal report.
McIngvale had +390 odds on the Longhorns, who lost 28-14 to Ohio State in the Cotton Bowl. Mattress Mack promised customers who spent $4,000 or more at Gallery Furniture their money back if the Longhorns won the national title. McIngvale has used earnings to counter promotions across his stores in the past.
“If they had won that game, it would’ve been a crazy last 10 days (before the title game),” McIngvale told the Review-Journal this week. “We would’ve had two full weekends to sell, but it didn’t work out.”
Mattress Mack also wagered $500,000 on the Texas moneyline at -135 in the SEC Championship game, which Georgia won 22-19 in overtime last month.
Laying low
Despite known for making his large wagers public, Mattress Mack kept the $1.5 million bet, which would’ve paid out over $5.8 million, and the funds behind the promotion quiet.
“I was hoping that they’d win,” McIngvale said. “I didn’t want to jinx it and have people second-guessing me. If they had won that game, I would’ve bet some more, but it didn’t work out.”
McIngvale made the Texas wagers before he underwent successful open-heart surgery on Dec. 10 to fix a valve. He then had another heart procedure performed on Christmas Eve. Mattress Mack told the Review-Journal he’s still in recovery but improving.
Other big bets
Mattress Mack famously won $72.6 million when the Houston Astros clinched the World Series in 2022. The Longhorns' bets were just two of the large wagers Mattress Mack made last year. He put down $1 million on the Houston Cougars in February to win the men’s NCAA championship at +750 odds. However, the Cougars bowed out in the Sweet 16.
He lost $500K when the Houston Texans were eliminated from the NFL playoffs last season in the divisional round. McIngvale told the Review-Journal he hasn’t bet on the Texans yet in this round, who are 7.5-point underdogs at Kansas City. He lost $3 million betting against the Chiefs in 2020.
“It’s a tall order, though, playing (Patrick) Mahomes,” McIngvale said.
