With sports betting becoming more available across the United States, players are taking advantage of it. From placing bets on major events to favorite players and sports teams, there are many ways to place a sports bet. Players can log online or go to a physical location to wager. For huge bets, players usually go to the location and often have to ask if the bet will be covered, if in the six or seven figure range. Just recently a sports bet was placed on the World Series that has everyone shaking their heads. A businessman known as Mattress Mack decided to place a multi-million-dollar wager on this favorite team to win the World Series this month.
Jim McIngvale, also known as Mattress Mack, visited the Scarlet Pearl Casino on Tuesday in D’Iberville, Mississippi to place a wager on the Houston Astros to win the world series. However, this was no ordinary bet. Jim decided to wager $3.5 million on the team to win.
The bet is so large, it is the largest one seen in the state of Mississippi since sports betting began back in August of last year. The bettor was dressed for the occasion, arriving at the casino in bright orange Astro’s gear, with a Division Champion hat on.
The Scarlet Pearl and DraftKings were alerted by the bettor of the amount he wished to place on the team and they agreed to take the wager. The sportsbook at the casino was the first retail spot to open by DraftKings in the US and they agreed to cover the wager. If the bet is won, Jim will earn $7.7 million on top of the wager.
Houston is favorited to win with the team +200 favorites at DraftKings to take home the prize.
Jim is a businessman in the Houston area who owns several Gallery Furniture stores. He is known for commercials and promotions of his businesses. According to the bettor, if the Astros win, customers will be earning free mattresses.
In order to promote the bet and his stores, both are tied together. If the Astros win the World Series, customers who purchased mattresses from his stores will get a refund of $3,000 or more. The smart businessman purchased to help cover a portion of the rebates, but he will also be paying some out of pocket.
Jim bet on the Astros to win in 2017 and it cost him over $10 million. According to Jim, the promotion this year has seen a ton of mattresses purchased at his stores, so the payout for refunds may be larger than last time if the Astros pull out the win.
It will most certainly be interesting to see how the wager unfolds. If the team wins, Jim earns a huge payout and must pay the refunds. If they lose, he is out $3.5 million. It’s a huge risk and one the businessman continues to take. He must really believe in the Astros as the team to beat!