Houston furniture magnate ‘Mattress Mack’s $75 million win on an Astros World Series bet hit Caesars hard (2024)

Houston furniture-store magnate Jim McIngvale won $75 million on his wagers that the hometown Astros would take baseball’s World Series, including a $30 million payout from Caesars Sportsbook that the company calls the largest-ever at a legal sports-betting site.

Jim McIngvale, founder of the Gallery Furniture chain and known as “Mattress Mack,” made wagers earlier this year including $3 million — at 10 to 1 odds — with Caesars in May that the Astros would win baseball’s championship. The team beat the Philadelphia Phillies in Saturday’s Game 6, clinching the title for a second time in six seasons.

Before McIngvale won, Caesars cautioned investors and analysts that the potential payout could impact its results.

“I think most of you are aware we’ve got a fairly high-profile liability out there with the Astros,” Caesars Entertainment Inc. Chief Executive Officer Thomas Reeg said in a Nov. 1 earnings call with analysts. “That will be a swing factor and whether the fourth quarter is positive.”

While Caesars was on the hook for the biggest individual chunk of McIngvale’s winnings, other sports-betting sites paid out the rest of the $75 million in winnings. ActionNetwork.com reported Mattress Mack’sother wagerson the Astros to win were made at sites including BetMGM, WynnBet, Barstool, Unibet and Betfred.

In late October, McIngvale told website Furniture Today he plans to funnel some of thosewinnings back to his customers, as part of his chain’s most successful sales promotions to date. Shoppers who spent at least $3,000 on a Tempur-Pedic, Stearns & Foster or Sealy mattress sleep set will get their purchase price back after the Astros win, according to the trade site.

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Houston furniture magnate ‘Mattress Mack’s $75 million win on an Astros World Series bet hit Caesars hard (2024)

FAQs

How much did Mattress Mack win when the Astros won the World Series? ›

After winning $75 million on the Astros' World Series championship last fall, Jim “Mattress Mack” McIngvale is going back to the well this year. The famed furniture magnate recently wagered $1.9 million on his hometown Astros to repeat this season.

What does Mattress Mack do if Astros win? ›

In this case, if the Astros win a second straight World Series, customers who bought $3,000 or more in specified mattresses will get a full refund on those purchases. And if Houston loses, Mack loses a few million dollars, but his business retains all the money from those mattress purchases.

Did Mattress Mack win 75 million dollars? ›

Jim McIngvale, also known as 'Mattress Mack', had a rather good day at the bookies recently. In fact, 'good' is probably the understatement of the century. He actually won an incredible, eye-watering, flabbergasting $75 million after betting on his beloved Houston Astros to win the World Series.

What is the biggest bet win ever? ›

Mattress Mack Wins $72.66 Million, Biggest Win in Sports Betting History.

What did Mattress Mack bet on the World Series? ›

Before baseball season even started, Jim McIngvale, also known as Mattress Mack, placed a $1.9 million bet on the Astros winning the 2023 World Series. The odds of the Astros winning and heading to the World Series is +220.

Did Mattress Mack throw out first pitch at Astros game? ›

MLB says it blocked Mattress Mack from throwing 1st pitch at Houston Astros ALDS Game 1, not Mattress Firm - ABC13 Houston.

Does Mattress Mack lose money on his bets? ›

Jim "Mattress Mack" McIngvale lost hundreds of thousands of dollars in wagers after the Texans fell to the Baltimore Ravens in the NFL playoffs Saturday, but the Houston furniture magnate has had a long history of placing large bets on major sporting events.

How much did Mattress Mack pay his customers? ›

Next up for Mattress Mack is getting that $75 million in winnings paid out to all his customers. In total, 7,000 customers took part. As exciting as it would've been for pretty much everybody else, the one thing McIngvale least wanted was a Game 7 in the World Series.

How much did Mattress Mack refund? ›

Mattress Mack is known for his outlandish promotions

He then stated that he didn't win a dime because, as a result of the promotion, he was forced to refund sales totaling up to 74 million dollars.

Who is the guy that bet $10 million on Astros? ›

How Mattress Mack Lost A $10 Million Bet On The Houston Astros And Still Won. Win Some, Lose Some: Jim "Mattress Mack" McIngvale won a $75 million payout last year after his home team claimed victory over the Phillies.

How did Mack win $75 million? ›

The $3 million bet with Caesars was his largest, but not his only seven-figure bet on the Astros. He tacked on roughly $7 million more in bets on the Astros over the summer at various sportsbooks, and, with average payout odds of +750, won around $75 million. But he won't get to keep it all.

What is the biggest bet ever placed in a casino? ›

On September 24, 1980, a man from Austin, Texas, arrived at Binion's Horseshoe Casino on Fremont Street in downtown Las Vegas. He was carrying two suitcases. One of them was empty, and the other was filled with $777,000. William Lee Bergstrom had come to Las Vegas to place the largest single bet to date.

Who is the famous bettor in Houston? ›

Mattress Mack is one of the most well-known sports bettors in the country, and he has good business reasons for wagering on local teams. In 2021, he bet heavily on the Houston Astros to win the World Series against the Atlanta Braves.

Who is the mattress owner gambler? ›

Jim "Mattress Mack" McIngvale is known for his massive wagers on sports games, but he says he won't be betting on the 2024 Super Bowl.

What is the payout for the World Series? ›

The exact amount the winners of the World Series receives is not fixed, because it depends on ticket sales and TV revenue. In recent years the amount has been around $30 million and for 2023 it is estimated that the World Series champion will take home around $35 million, which breaks down to about $440,000 per player.

How much money did Mattress Mack make? ›

Win Some, Lose Some: Jim "Mattress Mack" McIngvale won a $75 million payout last year after his home team claimed victory over the Phillies.

How much did Mattress Mack bet and win? ›

McIngvale won $72.6 million from betting on the Astros to win the World Series in 2022. But he's also had his fair share of losses, like the $4.1 million he put on Houston to win last year's NCAA tournament.

What is mattress max net worth? ›

McIngvale's net worth is estimated to be $310 million in 2023. He is one of the most successful businessmen in Houston, and he is known for his unique approach to marketing and philanthropy. In addition to his sports betting winnings, McIngvale also makes money from the sales of his furniture business.

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