Mattress Mack After Losing More Than $3 Million On TCU: ‘That Was A Beatdown’
HOUSTON, TEXAS – NOVEMBER 05: Jim McIngvale throws out the first pitch prior to Game Six of the 2022 World Series at Minute Maid Park on November 05, 2022 in Houston, Texas. (Photo by Carmen Mandato/Getty Images)
Mattress Mack won $75 million by hedging the Astros in November, but some of that profit disappeared on Monday night.
Mack — who typically uses sports wagers to pay off promotions he runs at his furniture stores — wagered more than $3 million on No. 3 TCU in its title bout with No. 1 Georgia.
The Bulldogs routed the Horned Frogs 65-7 in one of the most lopsided national championship games in history.
“That was a beatdown,” Mack told Action Network late Monday night. “The only thing worse would have been to have bought a commercial during the fourth quarter.”
Mack, whose real name is Jim McIngvale, wagered $2.13 million on the TCU moneyline. He placed $500,00 at Caesars at +400. At +370 at DraftKings, Mack placed $1.5 million. At WynnBet, his odds were at +380 for a $130,000 ticket.
In total, he could have netted more than $8 million on his ML wagers.
Those bets, though, had been tied to a promotion. If TCU won, customers could receive two times their money back if they spent more than $3,000 on mattresses.
“The promotion did well,” Mack said. “I just feel sorry for our customers.”
Mack made another wager on TCU’s spread that went down in flames by the second quarter, too. Mack put down an additional $1 million on TCU to cover a 13-point spread at a -110 vig.
That marks two straight years in which Mack picked the wrong side in the national title game. Mack wagered a total of $6.2 million on Alabama to win the 2022 national title game over Georgia at +115 and +120 odds. The Crimson Tide lost after giving up a five-point lead in the fourth quarter.
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