"Mattress Mack" finally won a big one.
Jim McIngvale, the Houston furniture magnate, won his $3.46 million bet on the Buccaneers (+3.5) in Super Bowl LV after Tampa Bay blitzed the Chiefs, 31-9.
"It feels good," said McIngvale, who netted $3.16 million on the bet that he placed with DraftKings in Colorado on Thursday. "It has been a long time."
The $3.46 million bet was the largest bet placed on the game and one of the largest in Super Bowl history.
McIngvale makes big bets in part because he can't get enough insurance to cover the promotions at his Gallery Furniture franchises in Houston, and then found that big bets were good publicity for his brand.
This year's promotion featured a rebate on mattresses of $3,000 or more if the Bucs won the Super Bowl.
Mack wouldn't say how much his liability was, but did say that he covered what he'll have to pay back to his customers who took advantage and have a little left over.
"I'm so excited for them to come in," McIngvale told The Action Network after the game.
In 2019, McIngvale lost $13 million on his insurance by betting the Houston Astros would win the World Series. He didn't have to pay back his customers in that instance.
McIngvale started betting as an insurance policy in 2017 when insurance would only cover so much of the roughly $10 million he would have to pay if the Astros won the World Series then. They did.
McIngvale had some insurance, but made a little up a little bit more by betting on the Astros to win it all.
