Texas seller ‘Mattress Mack’ places $4.5 million bet on Cincinnati Bengals to upset Super Bowl LVI
Jim “Mattress Mack” McIngvale, the Houston furniture salesman known for placing giant hedge bets, has done it again — this time with the biggest bet he’s ever placed.
On Thursday, McIngvale crossed the border from Texas into Louisiana, stopped at a gas station, logged into his mobile betting account with Caesars Sportsbook and placed $4.5 million in bets on the underdog of the Cincinnati Bengals at +170 odds to upset the Los Angeles Rams. in Super Bowl LVI. If the Bengals surprise, the bet would return $7.7 million.
“I had to make about twenty $200,000 bets for it to work,” McIngvale told ESPN Thursday night. “But I want to thank Caesars for taking it.”
Caesars Sportsbook said it was the second-largest bet the company has ever taken on the Super Bowl, eclipsing a $4.9 million bet at -900 on the heavily favored St. Louis Rams for beat the New England Patriots in Super Bowl XXXVI. The Patriots won 20-17.
Potential gain: $7,707,800
—Caesars Sportsbook (@CaesarsSports) February 4, 2022
“Joe Burrow’s magic draws fans, especially in Louisiana with his college roots,” Ken Fuchs, athletics manager at Caesars Sportsbook, said in a statement. “With this $4.5 million bet on Joe and the Bengals, Mack will once again make history.”
McIngvale often uses the sports betting market to mitigate its risk on furniture giveaways. For example, last baseball season, he spread around $13 million in bets on the Houston Astros to win the World Series, while offering to reimburse anyone who spent more than $3,000 on furniture in his home. store. The Astros lost in the World Series. He said he would do it again on his bet on the Bengals, paying back anyone who spends $3,000 on furniture if Cincinnati wins the Super Bowl.
McIngvale bet $3.46 million on the Tampa Bay Buccaneers +3.5 on last year’s Super Bowl as part of a promotional giveaway at his store. The Buccaneers delivered with a convincing upset from the Kansas City Chiefs, but McIngvale has been on a cold streak recently. He lost $4.7 million in a week betting on football in January, highlighted by a $2.7 million bet on Alabama in the national championship game, which Georgia won. The following week, McIngvale saw $2 million in futures bets he placed on the Patriots to win the Super Bowl ignite with a 47-17 loss to the Buffalo Bills in the first round of the playoffs.
“I’ve always said a setback is just preparation for a comeback,” McIngvale said.
Bengals fans hope he’s right.