HOUSTON — Mattress Mack is springing for another big sports bet.
Jim McIngvale, the Houston furniture salesman known as “Mattress Mack” who is famous for placing giant hedge bets, has placed his biggest single wager, ESPN reported.
On Thursday, McIngvale drove into Louisiana and pulled over at a gas station, where he logged onto his mobile betting account with Caesars Sportsbook, the sports network reported. McIngvale placed $4.5 million in bets on the Cincinnati Bengals, who are the underdogs for Super Bowl LVI, which will be played Feb. 13 at SoFi Stadium in Inglewood, California.
If the Bengals defeat the Los Angeles Rams in the NFL’s championship game, McIngvale’s bet would net $7.7 million.
“I had to make like twenty $200,000 bets to make it work,” McIngvale told ESPN on Thursday night. “But I want to thank Caesars for taking it.”
The Bengals bet is tied to a store promotion, WXIX-TV reported. Customers who buy $3,000 or more of mattresses or reclining furniture will get their money back if Cincinnati wins the game, the television station reported.
According to Caesars Sportsbook, McIngvale’s bet was the second largest the company has ever taken on the Super Bowl. It trails only a $4.9 million money-line bet on the St. Louis Rams to beat the New England Patriots in Super Bowl XXXVI in February 2002. The Patriots, who were 14-point underdogs, won 20-17.
“The Joe Burrow magic is pulling fans in, especially in Louisiana with his college roots,” Ken Fuchs, head of sports at Caesars Sportsbook, said in a news release. “With this $4.5 million bet on Joe and the Bengals, Mack will make history again.”
McIngvale is hoping to reverse a string of bad luck in sporting events over the past year.
He started 2021 on a high note, netting $2.75 million on his bet on the Tampa Bay Buccaneers to win the Super Bowl, according to Action Network.
However, he lost $9.9 million over his next four title bets, the website reported.
He spread around $13 million in bets on the Houston Astros to win the 2021 World Series, which they lost to the Atlanta Braves, ESPN reported. He bet $2.7 million on Alabama to win the College Football Playoff, which they lost to the University of Georgia, Action Network reported.
Then, McIngvale lost $2 million in futures bets on the Patriots to win this year’s Super Bowl when New England lost 47-17 to the Buffalo Bills in the first round of the AFC playoffs, ESPN reported.
“I’ve always said that a setback is just a setup for a comeback,” McIngvale told the sports network.