Mattress Mack's World Series bet explained How much money did Jim McIngvale win on the Astros EMWNews

Mattress Mack’s World Series bet, explained: How much money did Jim McIngvale win on the Astros?

When the Astros took the field for Game 6 of the World Series, they were greeted by a familiar face.

Jim “Mattress Mack” McIngvale is a mogul, philanthropist, and Houston sports super fan. He’s also a betting man. And the Space City resident was slated to throw the ceremonial first pitch Saturday night.

It was the culmination of a postseason that has been especially stressful for McIngvale. After all, he had a lot riding on the outcome of this series.

Prior to the playoffs, McIngvale placed a $10 million wager on his beloved ‘Stros capturing a World Series title. At 7.5-1 combined odds, McIngvale was one Houston win away from raking in $75 million.

(Three and a half hours later, Houston produced that win, 4-1, making Mack’s tickets winners.) 

Caesars Sportsbook announced late Saturday that it had paid out $30 million of that win (“the biggest check in sports betting history,” it said). McIngvale put $3 million on the Astros at 10-1 on May 13.

“Would we do it all again? You bet. While Mack may have won this round on the field, we’re proud of how we teamed up to support first responders and military veterans in Houston, (Philadelphia), and Atlantic City,” Ken Fuchs, Caesars Digital COO, said in a statement.

“And to Mack — we tip our Astros cap — and remind him that he can now support his Texans and Rockets . . . both attractively priced at +100000 to win a championship. The Astros are also currently +550 to win next year’s Fall Classic.”

Caesars said in the statement that the sportsbook, McIngvale, and Tempur-Sealy collaborated on providing new mattresses to first responders, vets, and active-duty military members in the three cities.

For most, $10 million is an unfathomable amount of cash to consider pouring down the drain. For McIngvale, who reportedly is worth $300 million, it’s a drop in the bucket. And, as he told ESPN’s David Fleming he has always been a risk-taker.

“I just have what you might call a high tolerance for risk,” McIngvale said. “Damon Runyon said, ‘All horse players die broke.’ And I know I shouldn’t bet with my heart, but it’s hard not to, and it’s a lot more fun.”

What are some of Mattress Mack’s other big bets?

This is not first McIngvale’s first rodeo. In 2017, he ran a promotion offering Texas-based customers free mattresses from his furniture store if the Astros beat the Dodgers in the Fall Classic. He ended up losing $10 million worth of mattresses. No matter, McIngvale says, because he hedged his provocative move with a multimillion-dollar bet on the ‘Stros. That’s not a businessman, but a business, man . . .

“I just get bored to death with stability, which is why I guess I like all of these big bets,” McIngvale said. “I thrive on chaos.”

For all his popularity in H-Town — and McIngvale is a regular fixture in the city’s sporting scene — his decision to put so much faith (and money) in the ‘Stros was a curious one. At least until one realizes that Mattress Mack never makes such a bet without having a way to counter it. Whether it was his $4.5 million wager on the Bengals in last season’s Super Bowl or the $3.35 million he put on Houston to vanquish the Braves in last year’s World Series, McIngvale always seems to find a way to stay in the black, largely by running promotions to build intrigue. So, even when he loses, he wins.

Oh, and gambling losses are tax-deductible. Another win for the mattress man.

“It’s definitely a win-win,” McIngvale said. “These promotions just bring the brand to life and give us a ton of brand equity that we wouldn’t have otherwise. The customers love it so they’re totally engaged and talk about it for years. Because it runs all season long it probably ups the number of people following the Astros, too, because now they have a real vested interest in the team.”

It helps that he roots for one of the best-run teams in baseball, a team that has become a perennial threat to win the Commissioner’s Trophy. On Saturday, Houston got its hands on that trophy for the second time in six seasons.

And you best believe Mattress Mack is delighting in it as he makes his way to the bank.

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