Jim McIngvale, the Gallery Furniture owner, has lost more than $15 million in sports gambling in the past five weeks
Feb. 14, 2022
Mattress Mack” Jim McIngvale, listens as representative from Operation Finally Home and the Howard Hughes Corporation tell them about U.S. Army Staff Sergeant Stephen Netzley at Gallery Furniture, Thursday, June 17, 2021, in Houston.
Gustavo Huerta/Staff photographer
That Aaron Donald sack on fourth down did more than break the hearts of Bengals fans everywhere as it sealed the Rams’ 23-20 Super Bowl win on Sunday, it also dealt Jim “Mattress Mack” McIngvale another staggering gambling loss.
The Gallery Furniture owner, who routinely bets millions of dollars on sporting events to offset his in-store promotions, bet $4.5 million on the Cincinnati Bengals to win. When McIngvale placed his bet last week in Louisiana, the Bengals were 4.5-point underdogs, so Cincinnati actually covered the spread, but he bet the Bengals to win the game straight up instead of just cover. The Bengals were +170 to win the game, so McIngvale would have won more than $7.7 million with a Cincinnati victory.
Gallery Furniture was offering customers who purchased a mattress set or reclining furniture priced at $3,000 more their money back if the Bengals won the game. McIngvale would have easily recouped those refunds with his bet, which was the largest mobile wager of all-time.
In the past five weeks alone, McIngvale has lost $15.4 million on…