Jim ‘Mattress Mack’ McIngvale has made US sports betting history by winning a record $75m following the Houston Astros defeating the Philadelphia Phillies over the weekend’s MLB World Series finals.
After wagering $10m across several sportsbooks earlier in the season, the furniture businessman won the record-breaking sum as part of his annual promotion for customers.
High-spending customers at McIngvale’s Gallery Furniture store will be entitled to a refund, whilst keeping their products.
Taking to Twitter, Mattress Mack stated: “Thank you H-Town. Thank you Astros. Thank you everyone.
“The last 41 years have been the greatest of my life, no question. It’s an honor and a privilege to serve all of you every day. From the annual Christmas giveaways, taking pictures daily with fellow Houstonians and Texas at Gallery Furniture North Freeway, refunding tens of millions of dollars since we started these promotions, from Hurricane Harvey to Hurricane Imelda to the winter ice stroma and everything in between.
“You’ve always been there for me, for your neighbor, for your community, for our city, for our state, for our country, and I’m grateful to you With tears in my eyes and a heavy heart, I’m sincerely grateful to you.”
Whilst a historic moment for US sports betting and undoubtedly a momentous occasion for Mattress Mack and his customers, this payout could have serious ramifications for the bottom line of several US sportsbooks.
Not least Caesars Sportsbook, which has handed out the biggest single payout at $30m. Mack placed a $3m bet with Caesars at 10-1 on May 13, leaving the firm with the unenviable task of paying out the largest single winning in US sports betting history.
Following the revelation, Caesars Digital COO Ken Fuchs commented: “What can we say? We just wrote the biggest check in sports betting history to Mattress Mack for $30m. Would we do it all again? You bet.
“Whilst Mack may have won this round on the field, we’re proud of how we teamed up to support first responders and military veterans in Houston, Philly and Atlantic City.
“And to Mack – we tip our Astros cap – and remind him that he can now support his Texans and Rockets… both attractively priced at +100000 to win a championship The Astros are also currently +550 to win next year’s Fall Classic.”
Industry observers will be keen to witness how this payout affects Q4 earnings, with many pointing out that it will undoubtedly impact sportsbooks’ bottom line.
Regardless, losing sportsbooks have been congratulating Mack on his victory.
Unibet, which paid out $6.3m, stated: “We are happy to congratulate Jim McIngvale on his successful bet on the Houston Astros. As one of the largest online betting operators globally we occasionally take on these bigger bets, and seen as a part of our overall sportsbook business it is a small exposure.”
Fred Done, Founder and Chairman of UK-based sportsbook Betfred, took to LinkedIn to make a video message congratulating Mack on his win.
Done said: “I want to congratulate all you people in Texas, all Houston Astros fans and especially you, Mattress Mack.
“You had the guts, the balls to put your money on the line. You put $1m on the Astros with me at 5-1. They’ve won, you deserve your money, we’re paying you and congratulations to everyone in Texas from Betfred.”
SBC caught up with Mack at SBC Summit North America in July as he revealed the reasoning behind his sports betting promotional strategy, and how Gallery Furnitures uses sports betting to beat retail competitors.