On Tuesday, Texas entrepreneur Jim McIngvale, widely known as “Mattress Mack,” made headlines by placing a staggering $3.5 million bet on the Houston Astros at a DraftKings sportsbook, expressing his confidence in the team’s ability to clinch the World Series title.
McIngvale, the proprietor of a furniture store empire, is renowned for his bold promotional strategies. As part of his latest campaign, dubbed “Win It All,” he is offering a refund of $3,000 or more to customers who purchased mattresses from his stores if the Astros emerge victorious.
DraftKings co-founder and chief revenue officer, Matt Kalish, hailed McIngvale’s wager as historic, labeling it the largest bet ever placed in Mississippi and one of the most significant nationwide. Kalish emphasized the unique nature of such high-stakes bets, highlighting DraftKings’ commitment to accommodating diverse betting preferences.
Prior to finalizing his bet at the Scarlet Pearl Casino in Mississippi, McIngvale explored options with leading sports betting platforms such as FanDuel and DraftKings in New Jersey. Ultimately, he opted to place his monumental wager at the Mississippi facility.
If the Astros secure the championship, McIngvale stands to pocket a whopping $11.2 million. However, he remained tight-lipped about the potential financial liability of his promotional offer, although estimates from sources like the Los Angeles Times suggest that “Mattress Mack” could face losses of up to $15 million.
Reflecting on his unconventional promotional tactics, McIngvale expressed confidence in the publicity generated by such initiatives, deeming them invaluable for his business. Notably, this isn’t the first time McIngvale has orchestrated such a promotion; in 2017, he famously refunded $13 million to customers following the Astros’ World Series victory.
DraftKings, in partnership with Scarlet Pearl Casino, launched its retail sportsbook in November 2018, providing patrons with a premier destination for sports betting entertainment.