Bed-ding big on the Astros
‘Mattress Mack’ wagers to cover promotion
For much of this baseball season, Gallery Furniture stores in Houston have been running a promotion promising to refund mattress purchases of $3,000 or more if the Astros win the World Series.
It’s a pretty gutsy move on the part of Gallery Furniture owner Jim (Mattress Mack) Mcingvale: Houston won a franchise-record 107 games during the regular season, the most in all of baseball, and feature an absolutely loaded roster.
Should the Astros win the World Series, Mcingvale will be on the hook for more than $15 million worth of refunds, he told the Action Network’s Darren Rovell.
To help mitigate that potential hit, Mcingvale went about trying to find a sportsbook that would take a large wager on the Astros to win the World Series, and on Monday he found one: The Draftkings sportsbook at Scarlet Pearl casino in Biloxi, Miss., which took his $3.5 million bet on the Astros to win it all at +220 odds. If Houston takes home the World Series title for the second time in three seasons, Mcingvale would win $7.7 million.
Mcingvale flew to Mississippi on Tuesday to pose with his ticket and a briefcase full of cash (he actually wired the $3.5 million on Monday):
Scarlet Pearl CEO Luann Pappas told the Houston Chronicle that Mcingvale’s wager was the largest placed in Mississippi since the state began taking sports bets last year. According to ESPN’S David Purdum, the $3.5 million is nearly equal to how much was bet on baseball at Mississippi sportsbooks in the months of June, July and August combined.
Mcingvale ran a similar promotion in 2017 and refunded more than $10 million in mattress purchases when the Astros defeated the Dodgers in the World Series. He was able to hedge some of it with insurance but also placed around $1 million in bets on the Astros to win the World Series in Las Vegas. This year, however, lining up the insurance proved to be more difficult because of how good Houston has played and because of Tropical Storm Imelda.