University of Houston's Sweet 16 defeat cost Jim 'Mattress Mack' McIngvale $4 million in lost bets
Jim"Mattress Mack" McIngvale is shown during an event at Gallery Furniture, 6006 North Freeway, Thursday, April 1, 2021 in Houston.Getting knocked off in the NCAA Tournament a couple games before getting chance to play in the Final Four in your home city is a tough pill to swallow for anybody. It's a particularly costly one for Jim"Mattress Mack" McIngvale.
The Gallery Furniture founder had a little more than $4 million riding on the University of Houston to cut down the nets at NRG Stadium in the April 3 national championship game. Instead, the No. 1 seed Cougars are going home afterwinning $75 million in his bets on the Astros winning the World Series
, McIngvale put down three separate bets on UH winning it all. The bets, which were placed through DraftKings and FanDuel in Louisiana and at BetMGM at Beau Rivage in Mississippi, totaled $2.55 million. In December, McIngvale went back for more, dropping another $1 million bet on the Cougars at Caesars Sportsbook at Horeseshoe Lake Charles in Louisiana. He'd since added to that total to nudge it more than $4 million. He got various odds, some as high as 10-to-1, and stood to win $35.
With the Cougars playing a doubleheader Friday with the University of Texas, where McIngvale briefly attended school, he also put down a quick $100,000 parlay bet on both Houston and Texas to win their Sweet 16 games Friday. The Cougars' early loss dashed that bet as well.
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