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Breaking down Mattress Mack’s bet on the World Series
Houston’s favorite businessman Jim McIngvale A.K.A. Mattress Mack could receive a multi-million-dollar payday based on his bet on the World Series games. FOX 26’s Consumer Reporter breaks down the numbers.
HOUSTON - Mattress Mack and his customers stand to win big if the Astros win the World Series. The Gallery Furniture owner could turn a $3 million bet into the biggest payout in legal sports betting history, nearly $39 million.
"We always have a promotion that if the Astros win the World Series, you buy a mattress that is $3,000 or better, a Tempur-Pedic, your mattress is free, free, free," said Mattress Mack.
Mack tweeted the details on his bets placed back in June, a $3.3 million bet for a potential total payout of nearly $39 million.
If the "Astros Win It All," as Mack calls his promotion, his winnings would cover the cost to refund customers who spent more than $3,000 on certain mattresses. Mack says those sales are now closed.
"There’s a promotion where he’ll pay out 6,000 mattresses, to the tune of about $20 million. So the $39 or so he stands to clear, that’s basically gross after he pays out $20 million worth of mattresses once the Astros win. He’ll sit with about $15 million or so, give or take, in profit. That’s clearly worth it," said Eytan Shander with FOX Bet and a sports radio talk show host.
Mack has bet big before, winning when the Astros won the World Series in 2017, and losing when the Astros lost the Series in 2019. But even if the Astros lose this year, experts say it's a shrewd business move, selling more mattresses.
"He likes having fun. He likes supporting the teams. He does so much in the community. In this case, what he’s doing is making sure he’s not going to lose much money. He’s going to make money either way," said Fred Faour with SportsMap.
"I’ve done it a lot. So it’s old hat, it’s business insurance and betting is the best way to fund this type of business insurance," said Mack.
If you're catching the fever to bet for the first time, experts say get educated first.
"I would tell you don’t do it. Don’t’ get started now because there’s a lot of losing. There’s a lot of beats you have to take to get good at it," said Faour.
"Read up on people who are covering it from a betting standpoint. You really want to familiarize yourself with areas of values and not just place a random wager," said Shander.
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But Mack says he's confident.
"We're going to go on and become world champions one more time," Mack said.
If the Astros win, Mack says the store will refund the customers at several parties they will hold at the store.