Mattress Mack Loses Out on $50 Million in Sports Betting Wins Due to Houston Astros World Series Loss

Mattress Mack Sports Game Poker 🕒 3 🗒️ 607

Jim Mattress Mack McIngvale, one of the biggest sports bettors in the world, suffered a multi-million dollar defeat when his beloved Houston Astros fell in Game 7 of baseballs American League Championship Series, one game short of making the World Series.

Last year, the Texas mattress store billionaire owner cashed a sports betting record $75 million score when his favorite baseball team defeated the Philadelphia Phillies in the World Series. He placed seven-figure wagers at various sportsbooks, one a $3 million futures bet on the Astros to win the Series at +1000 odds, and it paid $30 million for just that one bet.

But this year was different for the 72-year-old founder of Gallery Furniture, a Houston-based retain chain. On Monday, the Astros fell to the Texas Rangers in Game 7 of the best-of-seven American League Championship Series.

The winning team is now on to the World Series to face either Arizona or Philadelphia (Game 7 of the NLCS set for Tuesday at 5 p.m. PT). For McIngvale, the loss was painful to watch from his Minute Maid Park suite, and not only because its never fun for anyone to see their favorite team get rocked with a trip to the World Series on the line. Video during the game showed a displeased Mattress Mack watching the Astros get stomped.

Hedging His Bet

Mattress Mack, who staked a group of Houston poker pros at the 2022 World Series of Poker (WSOP), lost approximately $7.9 million on various 2023 Astros World Series bets with $50.9 in potential payouts, according to the New York Post.

Well, sort of. Mack is a brilliant business owner who knows how to hedge his bets and use his massive wagers as a means to promote his furniture stores. With a big bet, he offers up an enticing promotion to his customers if the Astros win, he refunds their expensive mattress purchases. If they lose, well, he rakes in the dough from the sales, which helps offset the loss from the bet.

Last year, the Astros won the World Series, so he collected $75 million from his bets, but this year went a different way.

It isnt publicly known exactly how much he wagered on the Astros to win the Series in 2023, although reports suggest it was just under $8 million. According to the Action Networks Darren Rovell, Mattress Mack placed an extra $1 million on his team last week at +750 odds. At the time, Houston was down two games to none in the ALCS and would go on to win three straight before losing the final two games of the series at home.

To participate in Gallery Furniture’s “Win it All Mattress Promotion,” customers were required to purchase $3,000 or more in Tempur-Pedic, Sealy, or Stearns & Foster mattresses, box springs, and/or adjustable bases. If the Astros had won, all participants would have received 100% of their purchase back. Bad luck for them, however, because the local team didn’t come through.

Mattress Mack, along with Jack Binion and Doyle Brunson just weeks before he passed away, spoke at a ribbon cutting ceremony in March to introduce the newly rebranded and renovated Horseshoe Las Vegas, home to the World Series of Poker.

“I started gambling when I was in high school,” McIngvale told PokerNews at the ceremony. “We’d have all night poker games with my friends in high school, so that’s how I got involved with poker.”

$76 million pays for a lot of Tempur-Pedic Mattress," the Houston sports betting legend also said.

This year, he collected money from customers instead of the sportsbooks.

Click here to participate in this poll.

FAQ

What is TP in WPT poker?

What is TP in WPT poker? Tournament Points (TPs) are used to buy into VIP tournaments on ClubWPT. All players start with a fixed amount of TPs (500) upon opening a VIP account. They cannot be reloaded, but will be automatically “topped up” once per day.

What forms of payment are accepted on WPT Global?

What forms of payment are accepted on WPT Global? Players can use a range of payment methods (depending on region) including Visa, bank transfer, NETELLER, Skrill, and cryptocurrencies such as Bitcoin, Ethereum, Litecoin and more via Coinspaid and Coindirect. Other methods include (available in some regions): Interac, Muchbetter, PIX, Boleto, Ecopayz, Astropay, and Luxon.

How has technology influenced the game of roulette?

How has technology influenced the game of roulette, such as with electronic and automated versions of the game? One of the most significant technological advancements in the game of roulette has been the introduction of electronic roulette tables. These tables feature a digital display that simulates the spinning of the roulette wheel, and players can place their bets on a touchscreen interface. This allows for faster gameplay, as the wheel can be spun more frequently than with a traditional roulette table.

How do I land the Big Bass Bonanza maximum win?

How do I land the Big Bass Bonanza maximum win? To reach the maximum win, you need to trigger the free spins feature and retrigger the 10 extra spins three times, adding a 10x multiplier to your wild and winnings.

Can I use tracking software or a HUD?

Can I use tracking software or a HUD? No, the use of third party software is prohibited.

This site only collects related articles. Viewing the original, please copy and open the following link:Mattress Mack Loses Out on $50 Million in Sports Betting Wins Due to Houston Astros World Series Loss