‘Mattress Mack’ loses $3M plus in TCU’s loss to Georgia
For Mattress Mack, Georgia’s victory over TCU in Monday’s college football championship game was simply a $3 million example of “easy come, easy go.”
Mack, a furniture mogul from Houston whose full name is Jim McIngvale, dropped $3.13 million on bets for TCU against Georgia.
The Bulldogs demolished the Horned Frogs by the score of 65-7.
This is the second year in a row McIngvale took it on the chin with bets against Georgia in the national championship game. Last year, he dropped $6.2 million when he bet on Alabama.
If you’re keeping score, that’s more than $9 million lost in bets that Georgia wouldn’t win the title.
How ‘bout them dogs!
But McIngvale is no stranger to high stakes wagers. And he’s not shy about his wagers.
This year, for example, he hyped the bets for TCU on social media, using a purple Lamborghini as a prop.
McIngvale built his fortune in the ‘80s when he began stepping in front of the camera for TV commercials, punctuating each ad for his Gallery Furniture store with the pledge “Gallery Furniture saves you money!”
Sales soared through the ‘90s, topping $100 million by the end of the decade. With more growth came more stores.
He became known in Houston for his philanthropy. In 2017, for example, McIngvale opened his stores as shelter for 800 victims flooded out of their homes by Hurricane Harvey. He opened his stores again in 2019 after tropical storm Imelda hit Houston.
He got into sports betting in 2017, often wagering on his beloved Houston Astros.
In a 2017 promotion, he promised free mattresses to customers if the Astros topped the Los Angeles Dodgers in the World Series.
The Astros won. McIngvale passed out more than $10 million in mattresses.
Business Insider quoted him as saying that year that he liked “gets bored to death with stability.”
He scored big in 2022, winning $75 million from bets that the Astros would beat the Philadelphia Phillies in the World Series. It is reputed to be the single largest payout from a sporting event in history.
As for Monday’s result, McIngvale took it in stride.
“That was a beatdown,” he told Action Network, a sports betting and information website, late Monday night. “The only thing worse would have been to have bought a commercial during the fourth quarter.”