Wager Mage
Wager Mage
Photo: Pavel Danilyuk
Jim "Mattress Mack" McIngvale lost $9.5 million betting on the Cincinnati Bengals to win the Super Bowl but got up Monday morning, put on his "big boy britches" and was back to work selling furniture.
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Read More »Jim "Mattress Mack" McIngvale lost $9.5 million betting on the Cincinnati Bengals to win the Super Bowl but got up Monday morning, put on his "big boy britches" and was back to work selling furniture. McIngvale, a beloved icon in Houston where he owns Gallery Furniture, has garnered national attention by placing big sports bets and attempting to mitigate his losses with promotional giveaways at his store. He lost his bets when the Bengals lost a late lead and fell to the Los Angeles Rams 23-20 Sunday night in Super Bowl LVI. The Bengals covered the 4-point spread but McIngvale bet on the moneyline, meaning he needed a Bengals win. At the same time, he ran a promotion that offered customers who spent at least $3,000 on mattresses and furniture at his store their money back if the Bengals won. The loss, on top of losses on Alabama in the national title game and future bets on the New England Patriots and Tennessee Titans, has resulted in $18 million in betting losses since the calendar turned to 2022.
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Read More »Daily Wager A daily sports betting news and information show (6-7 p.m. ET, ESPN2) that aims to better serve the millions of sports fans who participate in sports wagering and help educate general sports fans with in-depth analysis. Watch » McIngvale said the furniture business is typically slow around the Super Bowl, but he was happy with turnout at his store the past two weeks, which he called "beyond booming." "We're busier than we've ever been," McIngvale said. "It was absolutely good for us. It brings in tons of new customers." McIngvale often bets on his hometown Astros to win the World Series, but will have to wait until the labor issues settle to jump back in. Last June, he placed and lost $3.35 million in bets on the Astros to win the World Series at around 10-1 odds, meaning he has lost over $21 million in bets since then. Despite the rough run, McIngvale says he doesn't plan to stop the promotions and always attempts to keep things in perspective. McIngvale said he watched the Super Bowl at Camp Hope, an interim housing facility in Houston for combat veterans dealing with severe post-traumatic stress disorder. "You sit around and look at those guys whose lives have been totally [messed] up ... and they're trying to rebuild their lives, and all of a sudden, losing a football game isn't no big deal."
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Profitability of parlays in sports betting Number of individual bets Correct odds at 50% Correct odds of winning parlay at 55% 8 255 to 1 118.4 to...
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