Mattress Mack Down $2M In Baseball Bets
US furniture mogul and avid Houston Astros fan Jim “Mattress Mack” McIngvale may have to either curb his spending or find himself a team or two worthy of his support if he’s to quit throwing his money into the water. The man who famously bet (and lost!) $11.6 million after having gone all in on the off-chance of the Houston Astros winning the MLB playoffs last year, has lost a grand $2 million over the course of as little as two weeks for having on two counts wagered his bet against the Kansas City Chiefs.
Read More... New Pro-Swim Club Wants Local Talent
Needless to say, the Chiefs had two separate surprise stunts in store for the unwitting McIngvale and ended up first beating the Houston Texans by 20 points (51-31) and subsequent to that, beating the Tennessee Titans 35-24. Jim “Mattress Mack” McIngvale had apparently bet two money lines – each totalling to a sweltering $1 million – on the events; with one massive money line on each of the two games featuring Kansas.
He Went In On Either-Or
It appears as if Mattress Mack had initially tried to limit his damages by choosing to bet on two teams both notorious for having beat the Chiefs more than just a couple if times in the past. The logic behind the move appeared to be the reasoning that it was highly unlikely that Kansas would beat both of its opponents both times round. A much more likely eventuality would have been for Kansas to lose both times; or at least once, which would have resulted in a “nothing lost” situation for Jim McIngvale.
The approach adopted by McIngvale isn’t all that uncommon among sports bettors and is generally regarded as a “playing it safe” of sorts. The Chiefs did in fact on both counts put up the type of performance not exactly typical of the team’s style of play.
Remembering The Playoffs
McIngvale became a household name of sorts last year when he bet a massive sum of money on the Houston Astros winning the MBL playoffs. He related after the time that he wasn’t at all bombed at having lost as it was all part of an in-store promotion run at the time by his Mattress Mack stores. He was famously quoted at the time as having said that win or lose, it would be a score for business whichever way because of the massive media deals and publicity gained from the size and public coverage of his bets.