Jim ‘Mattress Mack’ McIngvale has become a household name in the sports betting community in recent years. The furniture salesman in Houston often makes big bets to hedge special offers to his customers to receive free furniture based on the success of local teams like the Astros, Cougars and Texans.
McIngvale was back in action this past week, placing multiple seven-figure wagers on the Kansas Jayhawks to win the 2022 NCAA Tournament. Before Saturday’s national semifinal games, he placed a $3.3 million bet on KU to win the Tournament for a +190 return at Caesars Sports.
McIngvale also risked $2.25 million on the Jayhawks for a +190 payout at Barstool Sports. Following KU’s win over Villanova to advance to Monday’s finals, he put $3.3 million at risk last night on a -200 money-line play on the Jayhawks to win $1.65 million.
Those three winners netted $12.2 million in profits. According to Todd Dewey of the Las Vegas Review-Journal, ‘Mattress Mack’ did have one losing bet on a team from the East Region (UNC) to win the title. That bet risking $1M to win $2.6M was a loss, so his overall profit was $11.2M.
Kansas pulled off the greatest comeback in finals history, rallying from a 16-point deficit to win a 72-69 decision over North Carolina as a four-point favorite. Trailing by three after KU’s David McCormack made a short jumper in the lane, UNC missed a pair of potential game-trying 3-pointers.
The second miss was rebounded by Brady Manek, but he threw the ball out of bounds with 4.3 seconds left. At this point, KU backers appeared poised to get a fortunate spread cover or a push from the free-throw line, but that didn’t materialize when the Jayhawks’ Dajuan Harris stepped on the sideline as he received the inbounds pass.
UNC’s Caleb Love missed a 3-point attempt before the final horn, but the Tar Heels covered the spread as four-point underdogs.
That was a tough one to swallow for a gambler at Red Rock Casino in Las Vegas. He or she lost a $1 million bet on Kansas -4.