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02 October

$3.5M Bet Placed at DraftKings

October 02, 2019

A Texas businessman placed a $3.5 million bet on the baseball team Houston Astros on Tuesday at a DraftKings sportsbook, projecting they will win the World Series.

Furniture store owner Jim McIngvale, also known as “Mattress Mack,” is currently offering a refund of $3,000 or more to any customer who bought mattresses in his stores if the Astros wins.

“It’s the biggest bet in Mississippi history and one of the top few ever in the country. It stands out as unique. If we’re not taking these bets, then who is?” said Matt Kalish, DraftKings co-founder and chief revenue officer.

Before placing the bet at Mississippi-based Scarlet Pearl Casino, McIngvale was in communication with FanDuel and DraftKings in New Jersey, both of which had agreed to accept his wager. However, the businessman decided to go with the facility in Mississippi.

McIngvale is set to receive $11.2 million if Houston wins, but he declined to comment on how big of a liability his promotion was; although, the Los Angeles Times suggests that “Mattress Mack” might lose up to $15 million.

“I know these wacky promotions like this one, when people get their money back, it’s the greatest publicity I could ever hope for,” he said.

In 2017, he had the same promotion, returning $13 million to the buyers after Houston Astros had won.

DraftKings opened the retail sportsbook at Scarlet Pearl Casino in November 2018.

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