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The house doesn’t always win. Mattress Mack just beat sportsbooks out of $72.6 million.
Houston furniture store owner Jim “Mattress Mack” McIngvale now owns the biggest win in sports betting history after cashing $10 million in World Series wagers Saturday night when the Astros beat the Philadelphia Phillies in six games.
McIngvale made the futures bets on Houston to win it all at odds ranging from 5-1 to 12-1 in May and July at six different sportsbooks in Louisiana, Iowa and Las Vegas.
His largest wager was $3 million to win $30 million (10-1 odds) at Caesars Sportsbook in May in Louisiana.
Here are his other winning wagers:
— $1 million to win $12 million (12-1) at WynnBET (May, Louisiana)
— $2 million to win $10.6 million (+533) at Barstool Sportsbook (July, Louisiana)
— $2 million to win $10 million (5-1) at the BetMGM book at Bellagio (July, Las Vegas)
— $1 million to win $5 million (5-1) at Unibet (July, Iowa)
— $1 million to win $5 million (5-1) at Betfred (July, Iowa).
Some would argue McIngvale, 71, was in a win-win situation and wasn’t actually gambling at all. That’s because the wagers were the latest in a series of bets to reduce risk on promotions at his Gallery Furniture stores.
In this case, customers who bought $3,000 or more of furniture were guaranteed to either get their money back or double their money back (depending on when they took part in the promotion) if the Astros won the World Series.
Now that they have, McIngvale said he’ll refund “almost every penny” of his $72.6 million jackpot to the approximately 3,000 customers who participated in the promotion.
The Astros trailed the Phillies 2-1 in the World Series before winning the final three games. Cristian Javier and three relievers combined on only the second no-hitter in World Series history in Houston’s 5-0 victory in Game 4 in Philadelphia.
McIngvale refunded $12 million in the same promotion in 2017, when the Astros won the World Series in seven games over the Los Angeles Dodgers. But he offset most of the loss through bets at Las Vegas books.
He also refunded more than $12 million earlier this year on a promotion that offered customers their money back if a team from Texas won the NCAA men’s basketball title.
He added a wrinkle that if a Texas team didn’t make the Final Four, customers would get the team that’s closest geographically to his store in Houston. That turned out to be Kansas, which beat North Carolina in the championship. Mack hedged that promotion by winning $12.2 million in wagers on the Jayhawks.
The win snapped a losing streak that saw him drop more than $25 million since the 2021 Super Bowl, including $9.5 million in money-line bets on the Cincinnati Bengals over the LA Rams in the Super Bowl.
He also lost $13 million in bets on the Astros when they lost the 2019 World Series to the Washington Nationals.
This is a developing story. Check back for updates.
Contact reporter Todd Dewey at tdewey@reviewjournal.com. Follow @tdewey33 on Twitter.
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