Mattress Mack eyes $35 million sports activities betting win if Houston wins NCAA Tournament
Patrick Everson
FOX Sports Betting Analyst
Solve for this equation: March Madness odds-on favourite Houston Cougars + Final Four in Houston + Jim “Mattress Mack” McIngvale.
The reply for a number of sportsbook operators: A looming big-money headache.
McIngvale, the high-dollar-betting Houston furnishings retailer magnate, has $3.55 million in wagers on the Cougars to win the nationwide championship. Houston enters March Madness because the championship favourite, and if it goes all the way in which, Mattress Mack will clear $35 million in revenue. Which he’ll then flip round and provides to his prospects since, per common, the bets are a hedge towards a promotion at his furnishings retailer.
And he won’t be achieved betting but. Let’s dive into how McIngvale reached this level and what would possibly nonetheless be coming.
Mattress Mack Impact
Usually, McIngvale’s promotions are on bedding units that run $3,000 or extra for patrons. Hence his nickname of Mattress Mack. In this occasion, prospects who purchase $5,000 or extra price of furnishings – something within the retailer – get their a reimbursement if the Cougars carry the trophy on April 3.
The promotion has been occurring for months and can proceed for no less than one other week, McIngvale mentioned. All his hedge bets had been made early within the season, together with three seven-figure wagers: $1.05 million on Houston +850 at FanDuel Sportsbook; $1 million on Houston +900 at DraftKings; and $1 million on Houston +800 at Caesars Sports.
In addition, Mattress Mack made two $500,000 bets on Houston, at +1000 with BetMGM and +900 with Barstool Sportsbook. Houston (31-3) is the No. 1 seed within the Midwest Region, and McIngvale rightly feels fairly good in the intervening time.
“The Cougars have a good team. They have a good shot,” he mentioned in an understatement of the +500 favorites. “It’s like the Astros last season. They’ve got a good path to get there and just have to go out and play well.”
Astro-nomical Win
McIngvale is aware of loads in regards to the Astros. Off that World Series title, he raked in additional than $70 million from futures bets. Now, he is aiming for an additional $35 million-plus and hoping hometown benefit comes into play. If the Cougars attain the Final Four, they will be sleeping in their very own beds.
“The Final Four here in Houston is a huge element of it, in addition to Houston being successful in the NCAA Tournament lately,” McIngvale mentioned. “I thought those things were good for a futures bet.”
In 2018-19, Houston reached it is first Sweet 16 in 35 years. Then in 2020-21, the Cougars made it to the Final Four earlier than shedding to eventual champion Baylor. Last 12 months, Houston bowed out to Villanova after making a run to the Elite Eight.
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Oddsmakers Buckle Up
No shock, McIngvale’s $1 million wager at Caesars is that e book’s largest March Madness wager, in keeping with Adam Pullen, assistant director of buying and selling. The solely different bettor who stands to win greater than $1 million: a Virginia buyer who put a collection of bets – totaling simply $1,127 – on No. 12 seed and large lengthy shot Oral Roberts.
If the seemingly not possible occurs for Oral Roberts, that bettor will clear $1.5 million. A far greater downside for Caesars and the remainder of the aforementioned books is the Mattress Mack cash.
“We’re losers on Houston, Oral Roberts and West Virginia,” Pullen mentioned, although definitely, the danger room is not that fearful in regards to the latter two.
“That Mack bet on Houston skews everything. Usually, it’d be anywhere from five to 10 teams that we have liability on. Having three this year is abnormally low, [but] we rarely get $1 million bets on college basketball futures.”
And Mack won’t be achieved but, as his buyer base continues to pile in on the promotion.
“Any promotion that focuses on a local team has more oomph to it,” he mentioned. “If the Cougars keep winning, then I’ll probably have to make some more bets.”
To reiterate, just about all his winnings go to offset his furnishings promotions. And Mattress Mack has misplaced quite a lot of these massive wagers, too. But it is nonetheless fascinating to comply with. As Houston prepares for its first-round sport towards No. 16 seed Northern Kentucky on Thursday night time, McIngvale is in full coach-speak mode.
“All I know right now is that they’ve gotta beat Northern Kentucky. It’s one game at a time,” he mentioned. “Win Thursday night, then worry about Saturday.”
Patrick Everson is a sports activities betting analyst for FOX Sports and senior reporter for VegasInsider.com. He is a distinguished journalist within the nationwide sports activities betting area. He’s based mostly in Las Vegas, the place he enjoys {golfing} in 110-degree warmth. Follow him on Twitter: @PatrickE_Vegas.
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