Jim McIngvale (“Mattress Mack”), a Houston furniture salesman, is back with another huge hedge bet. This time, he placed the largest single wager.
McIngvale drove to Louisiana from Texas on Thursday. He pulled over at a gasoline station. McIngvale logged into his mobile betting account at Caesars Sportsbook, and placed $4.5 million of bets on the underdog. Cincinnati BengalsYou have a chance to upset the favorite at +170 Los Angeles Rams in Super Bowl LVI. $7.7 Million would be made if the Bengals win.
McIngvale stated to ESPN that McIngvale had to wager $200,000 in order to make it happen. “But, I want to thank Caesars because they took it.”
Caesars Sportsbook stated that it was the second-largest wager they have ever made on the Super Bowl. This bet eclipsed a $4.9million money-line bet at odds of -900 on the St. Louis Rams beating the Patriots. New England Patriots in Super Bowl XXXVI. The Patriots won 20-17.
The Return of the Mack for the Super Bowl‼️@MattressMackJust wagered $4.534,000 for the #CaesarsSportsbookTo win over the Rams, app Louisiana on Bengals (+170).
Potential win: $7.707.800
This is the largest mobile wager ever.?#BetLikeACaesar pic.twitter.com/pBJjtU9x49
— Caesars Sportsbook (@CaesarsSports) February 4, 2022
“The Joe BurrowMagic is attracting fans, especially in Louisiana where he has college roots,” Ken Fuchs of Caesars Sportsbook said in a press release. Mack will once again make history with this $4.5 million wager on Joe and the Bengals.
McIngvale uses the sports betting markets to minimize his risk when he gives away furniture. McIngvale, for example, placed $13 million on the Houston Astros winning the World Series. He also offered to reimburse anyone who had spent more than $3,000 at his store. The Astros didn’t reach the World Series. He stated that he would do it again on his wager on the Bengals and will refund anyone who spends $3,000 furniture if Cincinnati wins.
McIngvale bet $3.46 million on the Tampa Bay Buccaneers +3.5 on last year’s Super BowlHe gave it to his customers as a promotional gift. The BuccaneersIt was a convincing victory for the Kansas City ChiefsMcIngvale is on a cold streak, however. McIngvale lost $4.7 million during a week of betting on football in January. This was highlighted by a $2.7million money-line wager on Alabama in the National Championship game. Georgia won. McIngvale lost $2 million on futures bets that he had placed on New England Patriots winning the Super Bowl. The result was a 47-17 loss for the Patriots. Buffalo BillsIn the first round.
McIngvale stated, “I have always believed that a setback was just a setting for a comeback.”
Bengals fans hope he is right.