Mattress Mack is at it again! After a tremendously successful World Series run where he earned $75 million while betting on the Houston Astros, Jim McIngvale, the Gallery Furniture magnate better known as Mattress Mack, is putting his money behind another Texas team.
With the college football national championship kicking off on January 9, Mattress Mack has placed multiple bets on TCU to defeat Georgia, per The Action Network. Through three different bets, he put $2.13 million on the TCU moneyline. He also made a $1 million bet on TCU to cover the 13-point spread.
If TCU loses by less than 13, McIngvale will at least earn some of his money back, walking away with about $1.91 million. But if the Horned Frogs win and earn their first national championship since 1938, McIngvale will win about $8 million.
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McIngvale makes these bets as a promotion for his furniture stores. During the Astros' World Series run, he offered customers their money back if the Astros won, provided they bought certain types of furniture or sleeper sets. For the TCU bet, customers need to buy at least $3,000 on mattresses before the game kicks off. If TCU wins, customers will win double what they paid.
The bets are a way to hedge against the influx in furniture sales. Mattress Mack has said that he usually covers any losses via sales, and even if he doesn't break even, he's doing quite well financially. He could have had an even bigger payout if he bet on TCU before the season began. The Horned Frogs opened as 200-to-1 favorites to win the title. They started the season 11-0 and reached the College Football Playoff for the first time in school history. Now, they're going for their first championship in nearly a century. Meanwhile, the Bulldogs will look to repeat as champions.
Mattress Mack will hope for better results than his last national championship bet. In 2022, he picked Alabama to beat Georgia. The Crimson Tide were small underdogs and ended up losing 33-18.
Will betting against Georgia cost him again? Or will the Lone Star State continue to deliver financial windfalls for one of Houston's most famous businessmen?
