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Jim “Mattress Mack” McIngvale is a businessman who is not afraid to back his claims, particularly with regard to Texas sports teams.
The well-known furniture dealer decided to stake $1 million on the Texas Longhorns to win the national title, just days before the Longhorns and Huskies faced off in the Sugar Bowl. McIngvale, an ardent Astros fan, was probably also motivated by the prospect of Texas playing for the national championship in Houston’s NRG Stadium.
“I drove to Louisiana on Friday night to place a bet using my phone,” McIngvale said to FOX Sports. “I have an enormous passion for UT football.”
In Monday night’s thrilling 31-37 victory over Texas in the College Football Playoff semifinal game in New Orleans, the Huskies advanced to their first football championship game since the 2009 season. Quarterback Vince Young led the 2005 Longhorns to victory in the BCS National Championship.
McIngvale’s $1 million wager at +270 odds at Caesars Sportsbook would have generated a healthy $2.7 million profit if Texas had mounted a comeback in the Sugar Bowl. Had the Longhorns won the national championship the following week, he would have been expected to collect a total compensation of almost $3.7 million.
The Action Network, a sports betting business, reports that McIngvale has lost over $10.25 million on sports bets over the previous three years.
The furniture company tycoon had earlier made a sizable wager on Alabama to defeat Georgia in the national championship game of 2022. However, the Crimson Tide lost 33–18 in the end. After more than 40 years, the Bulldogs won their first national title, costing McIngvale more than $6 million in losses.
Throughout his well-known career as a sports bettor, McIngvale has had some enormous victories. In the 2022 World Series, the Astros overcame the Philadelphia Phillies, enabling McIngvale to take home an incredible $75 million in spoils.
On Monday, Michael Penix Jr.’s incredible tale of recovery continued. The game’s MVP, Brett Favre, completed with 430 throwing yards and two touchdowns. Throughout his career, the sixth-year signal caller recovered from a number of injuries, including two serious knee injuries.
