Mattress Mack Puts $4.5 MILLION On Us To Win!

[George Cantstandya]

(02-15-2022, 11:36 AM)Nepa Wrote: From ESPN:

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."


He mitigated the loss somewhat by now not having to give the money back for all the people who bought mattresses and furniture. His sales were up so high with this promotion that he actually had added to his original bet.

He really did okay overall it seems as well as adding to his customer base.  While he lost 9.5 million on the bet:

Quote:The wagers were part of a Gallery Furniture promotion that offered reimbursement to customers who spent $3,000 or more on a Tempur-Pedic, Stearns & Foster or Sealy mattress or on reclining sectionals, sofas or loveseats if the Bengals won. 

The promotion brought in about $20 million in revenue, with sales surging about 250% over a two-week period. About 70% of the customers involved in the promotion were new.

Also this was cool too:

Quote:He and his wife watched the big game alongside 80 military veterans at Camp Hope, an intensive residential program designed to provide support and mentoring-based healing for individuals suffering from post-traumatic stress disorder. Over 1,348 veterans have graduated from the program. 

"I saw how brave and valiant they were in fighting their demons in their head, and all of a sudden losing a football game wasn't such a big deal," he said.