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Jim McIngvale, better known as “Mattress Mack,” has now placed more than $9.5 million in bets on the Bengals to upset the favored Rams in Super Bowl 56.
McIngvale wagered $4.53 million on Cincinnati to win the game, getting +170 odds, on Feb. 3. He doubled down Friday with a Super Bowl-record $5 million bet, also on the Bengals to win straight up and again at +170 odds.
NOW: On the @KPRC2 News Mattress Mack lays down the biggest Super Bowl bet in history according to experts, $5-million dollars. Mack made his wager outside of a men’s restroom in Vinton, Louisiana using the @CaesarsSports app. Only KPRC 2 Investigates was there. (Video soon) pic.twitter.com/TUuqCX8vUM
— Mario Diaz (@KPRC2Mario) February 11, 2022
He stands to make a $16.2 million profit if the Bengals win.
McIngvale had to drive from Texas to Louisiana to place the wagers legally. He used his Caesars Sportsbook app.
“I had to make like 20 $200,000 bets to make it work,” he told ESPN of his initial bet. “But I want to thank Caesars (Sportsbook) for taking it.”
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Caesars Sportsbook said it was “the single-largest legal mobile sports wager of all time.”
A week later, McIngvale made the largest legal bet overall. CNBC reported that the previous highest wager was $4.9 million on the 2002 Super Bowl.
McIngvale, who is the owner and CEO of Gallery Furniture in Houston, has made a name for himself in the sports betting industry. As recently as last year, he made $13 million in bets on the Astros to win the World Series while offering to refund anyone who spent more than $3,000 in furniture at his store.
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He said he’ll be making the same offer this year, refunding anyone who spends $3,000 on furniture if Cincinnati wins the Super Bowl.
Here is more on the man known as “Mattress Mack.”
Who is ‘Mattress Mack’?
According to Legal Sports Betting, Jim “Mattress Mack” McIngvale started his furniture business, Gallery Furniture, in 1981 using $5,000 to purchase inventory and his truck to move and sell it.
In 1983, McIngvale reportedly took $10,000 and invested in a series of local television ads. During the filming of one of those commercials, he got frustrated while cameras were rolling, pulled money out of his pockets and yelled, “Gallery Furniture saves you money!” It proved to be effective and became his catchphrase.
McIngvale has since grown into one of the most successful businessmen in Texas, reportedly earning about $200 million in revenue annually. He now has a net worth of $300 million.
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McIngvale is married to his wife, Linda, and has four children and six grandchildren.
What other huge bets has ‘Mattress Mack’ placed?
Last season, McIngvale bet $3.46 million on the Buccaneers +3.5 to defeat the Chiefs in the Super Bowl as part of a promotional giveaway at his store, ultimately winning $2.7 million in return. However, he has been on a cold streak since then.
He placed $2 million on the Patriots to win this year’s Super Bowl; they were defeated by the Bills in the AFC wild-card round. McIngvale placed a $1.2 million bet on Alabama to win this year’s College Football Playoff national championship; the Crimson Tide lost in the title game to Georgia 33-18.
Before winning his bet on the Buccaneers last season, McIngvale had a losing streak that included $13 million on losing bets on the Astros to win the 2019 World Series.
After cashing his tickets on the Buccaneers, McIngvale lost $12.1 million in wagers, according to the Las Vegas Review Journal: $1 million on Houston to win the 2021 NCAA Tournament; $2.4 million on Essential Quality to win the 2021 Kentucky Derby, $4 million on the Astros to win the 2021 World Series and the $4.7 million in bets on Alabama and the Patriots.
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McIngvale told the Review Journal he was OK with his most recent losses.
“Life happens and you move on,” McIngvale, 70, said. “You know how long it took me to get over it? Two seconds each. A gambler has to be resilient, if anything. They knock you down and you’ve got to get back up.”
McIngvale also placed bets against the Chiefs to lose the 2020 AFC divisional round game against the Texans and Super Bowl 54. Kansas City won both contests.
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