The Houston furniture store owner lost another seven figures worth of sports bets in Mississippi.
Jim “Mattress Mack” McIngvale has made sports betting headlines once again. Last year, the Houston based furniture store owner famously flew around the country placing millions in wagers on the Houston Astros to win the World Series. Houston lost to the Nationals. Now, it’s an NFL bet that has Mack receiving international publicity.
On Saturday, he posted on Twitter looking for a sportsbook that would take his bets on the Titans to beat the Chiefs in the AFC Championship Game. It was no surprise that the Scarlet Pearl and Beau Rivage casinos sprung into action for ‘Mattress’.
The Scarlet Pearl is home to the brave book that accepted Mack’s $3.5M in action on the Astros to win the World Series at +220 odds. Then, they took another million dollar wager from McIngvale on the World Series winner to be from the American League. Check out TPN’s reporting from 2019.
A mattress salesman walks into a sportsbook.
He placed $500,000 on the Titans +300 money-line at both Biloxi, Mississippi casinos. For the non sports bettors, that means a 3-1 payout or a $3,000,000 win on $1,000,000 wagered if the Titans would win the game at Arrowhead Stadium.
Unfortunately for Mattress Mack, this was another blockbuster bet that lost. The Chiefs won the game easily and he has lost seven figures once again.
TPN predicts that Mattress Mack will bounce back.
Mack is going to be ok. While he claims that this bet was a genuine wager and not a marketing maneuver. In the past, his big news worthy bets have been tied into promotions for his Gallery Furniture stores in Houston. The Astros bets would pay off either way. If they won, he had advertised a refund of $3,000 furniture purchases to his customers. The bet would cover that and then some. If the Astros lost, which they did (despite the signal stealing), he would not have to issue the furniture refunds and the publicity would make it worth the price of the wager.
The Odds aren’t set in stone when you’re a ‘whale’.
The money-line odds on the Tennessee Titans to beat the Kansas City Chiefs were trending around +270 around the Vegas Strip and at most legal online sportsbooks. Mattress Mack asked for +300 on Twitter, and he got it. Had he won the bet, that would have added up to a $300,000 difference in payout from +270 to +300. Many bettors don’t realize that legal sports books sometimes are willing to negotiate and accept longer odds for larger wager amounts.
So, if you have five figures or more set aside for your own ‘lock of the century’ or furniture store promotion, reach out to a VIP casino host who can help you negotiate the best unadvertised odds.
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