Fresh off the biggest payout in sports betting history when he won $75 million earlier this month on the Houston Astros to win the 2022 World Series, Jim ‘Mattress Mack’ McIngvale was back at it again on Tuesday.
He caught a one-hour flight from Houston to Biloxi to place $500,000 on the Houston Cougars to win the 2022-23 men’s basketball NCAA Tournament at 10/1 odds. McIngvale can win $5 million from the Beau Rivage Resort and Casino’s BetMGM Sportsbook if Kelvin Sampson’s team cuts the nets down on a Monday night in early April.
“Hopefully I’ll be back in April to cash it in,” McIngvale told the Biloxi Sun Herald.
“I feel lucky. I’m glad to be in Biloxi and glade to be back in my home state of Mississippi.”
McIngvale often runs promotions for his customers tied to the local sports teams. He bets on the local teams like the Astros and if they win championships, his customers are refunded the money they spent with him on mattresses and other furniture.
McIngvale told the Sun Herald that he has returned $73 million of his $75M to his customers at his chain of Gallery Furniture Stores in the Houston area. Many have told him that the refunds they’re getting for the furniture they bought is “life changing.”
Back in 2019, McIngvale flew into the Biloxi area and made multiple large wagers at The Beau and at Scarlet Pearl Casino across the Bay in D’Iberville. Those bets on the Astros lost.
“He hasn’t been lucky with us,” The Beau’s sportsbook manager Carl Johnson told the Sun Herald. “But that could change this time. He’s got a legitimate chance to win this bet.”
Indeed, Houston has started the season 3-0 both straight up and against the spread, winning its games by margins of 38, 26 and 47 points. The Cougars are currently ranked fourth at KenPom.
Houston lost to Villanova in the Elite Eight last season and was knocked out of the 2021 NCAA Tournament by eventual national champion, Baylor, in the semifinals.
The 2023 NCAA Tournament Final Four will be played in Houston at NRG Stadium.