Consider Jim “Mattress Mack” McIngvale the leader of the Houston Cougars fan club again this yr, as he announced a $1 million bet on the team to win the lads’s NCAA Tournament.
At +750, McIngvale stands to win $7.5 million at Caesars Sportsbook if the Cougars do win March Madness 2024.
The furniture tycoon and notorious gambler has been on the Cougars to win March Madness before, having wagered $4.05 million in commutative wagers on his hometown team in 2023.
Houston was long considered the favorites last season before succumbing to the fifth-seeded Miami Hurricanes in a large Sweet 16 upset.
They’re the No. 1 team within the country this yr, sitting atop the Big 12 and with a 24-3 overall record.
The Cougars bring back some key members of their roster from last season in guards Jamal Shead and Emmanuel Sharp while replacing Marcus Sasser’s production with transfer Baylor guard L.J. Cryer.
McIngvale consistently bets on teams in his own backyard, having won $75 million on the Astros after they captured the 2022 World Series.
He recently lost $500,000 on the Houston Texans against the Baltimore Ravens within the NFL playoffs and one other $1 million on Texas within the College Football Playoff in January.
McIngvale uses these sports betting endeavors to pump up his Gallery Furniture store.
His wagers turn into promotional items by telling customers to make a purchase order of no less than a certain quantity; if the team he bets on wins, the items are free.
The shoppers pay for the items prematurely of any bets winning, and if he does snag a winning wager, the purchaser can simply bring back their receipt for a full refund.
After the large $75 million win on the Astros to win the World Series, McIngvale had been frustrated with some sportsbooks who wouldn’t take his motion.
“The industry must go up so far as what you’re going to take, not down,” McIngvale said on the SBC Summit North America conference in Latest Jersey in 2022.
Betting on College Basketball?
Caesars has been taking a boatload of his motion in recent times, but additionally they paid out $30 million of the $75 million he was owed after the Astros won.
The next yr, Mack lost $7.9 million on the Astros to win the World Series while the Rangers eliminated them from the playoffs.
