Sports betting enthusiast and Houston-area furniture mogul Jim “Mattress Mack” McIngvale is making another massive wager on a high-profile sporting event.
He made waves in the sports betting world over the last few days as it was revealed that he wagered $3.46 million on the Super Bowl. On Wednesday, he flew to Colorado, a state that recently legalized sports betting, and placed the seven-figure bet on the DraftKings mobile app.
McIngvale took the Tampa Bay Buccaneers with the spread. The NFC representative in the Super Bowl is getting 3.5 points against the defending champion Kansas City Chiefs.
He famously lost $13 million betting on the Houston Astros to win the 2019 World Series. He made the bet as a hedge against a promotion he was running at his furniture store. During the 2019 Major League Baseball season, McIngvale said that if the hometown team won the World Series, he would give customers a full refund on any mattress purchase of $3,000 or more.
He is running a nearly identical promotion at his store this year, offering the same refund and price point if the Bucs defeat the Chiefs this Sunday. Given the spread, if the Chiefs win by less than four points, he won’t have to refund his customers and also win $2.72 million from the Boston-based online sportsbook.
While many of his high-profile bets are hedges against store promotions, McIngvale clearly likes to gamble. Last year, he lost $2 million betting against the Chiefs in the playoffs. He bet $1 million on them to lose in both the AFC Championship game and the Super Bowl.
“Tampa Bay is loaded with talent on both sides of the ball and led by the greatest football player of all time in Tom Brady, so I’m betting big on the Bucs who have overcome tough matchups throughout this postseason,” said McIngvale in a statement on the DraftKings website. “The NFL has only seen eight instances of back-to-back champions and none in the past 16 years, so I like my chances going into Super Bowl LV for this trend to continue.”