A respected legal sports wagering figure has suffered a heavy loss.
Jim "Mattress Mack" McIngvale has actually lost at least $6.9 million following the Houston Astros' 11-4 loss on Monday night versus the Texas Rangers in the American League Championship Series.
McIngvale, who is well-known for big wagers, could have pocketed approximately $43.4 million from different retail sportsbooks and online wagering websites if the Astros had actually recorded the World Series, according to Reuters.
Despite the loss, the Astros have actually fared well for McIngvale. Last year, the Texas furnishings salesman won approximately $75 million when the Astros clinched the 2022 World Series.
As an outcome of the win, McIngvale was issued the "biggest payout on a single sports bet in legalized sports betting history," according to Caesars Sportsbook. McIngvale, who had action across a number of sportsbooks, wagered $3 million at 10/1 odds on the Astros to win the World Series. His action at Caesars would win him a record $30 million for a single sports wager.
PENN Entertainment's Barstool Sportsbook, which is soon to be rebranded to ESPN Bet, likewise took a huge hit from a McIngvale wager. The operator paid McIngvale $10 million following a $2 million wager. Other sportsbooks that paid the salesman consisted of BetMGM and WynnBet.
McIngvale's affinity for betting has actually also translated to increased reach for his furnishings company.
"It's all about making furniture-buying more fascinating for the clients. So it's a win-win for the community and a win-win for us," the salesman told NPR previously this year.
Not just baseball
McIngvale has actually likewise placed large wagers on America's most popular professional sports league - the NFL. In February 2022, McIngvale positioned roughly $9.5 million worth of wagers on the Cincinnati Bengals to win Super Bowl LVI versus the Los Angeles Rams at SoFi Stadium.
The Rams would defeat the Bengals 23-20 in front of 70,000 fans. Mack's action on the Bengals would have won him $16.2 million as the Bengals entered the contest as small underdogs.
