Jim ‘Mattress Mack’ McIngvale sells furniture in Houston, offering all sorts of deals for customers to get free mattresses if/when some of the local teams excel. Most of his popularity in the gambling community has been earned in the last 5-6 years when he’s often hedged his deals for customers to get free mattresses by backing the Astros for enormous amounts of money to win the World Series.
I’m not sure exactly what deal he was offering regarding the 2021-22 Alabama Crimson Tide football, but it obviously had something to do with Nick Saban winning another national title.
According to VSIN’s Ben Fawkes, McIngvale wagered at least $3.7 million on Alabama on the money line against Georgia in last night’s CFP semifinals. Other reports suggested he had as much as $6M on the line with bets at other shops.
Whatever the case, the hedge didn’t work out when Georgia rallied in the fourth quarter and ended up winning a 33-18 decision as a three-point favorite to win the program’s first national championship in 41 years.
Don’t lose any sleep for McIngvale, though. He’ll be just fine.