Texas Mattress Mogul & Philanthropist Wins Largest Sports Bet In History- $75 Million
Jim "Mattress Mack" McIngvale just won $75 million dollars betting on the team he loves- the Houston Astros. The Astros won the World Series title against the Philadelphia Phillies over the weekend, much to the elation of fans. As big of a win as the World Series title is, the win feels like so much more:
They also cemented this Astros era as a modern dynasty. Given the difficulty of reaching six consecutive League Championship Series and winning four pennants and two titles in a six-season span in a sport with such random October (and November) outcomes, plus persistent player movement and low Draft positioning for successful squads, the Astros’ achievement is a marvel.
How did he do it?
The Astros has 10-1 odds of winning the title, which led to McIngvale's getting the largest single pay-out of a legal sports bet in history:
$3 million at Caesars Sports on the Astros to win the World Series, at 10-1 odds. That paid out Saturday night for a whopping $30 million, the largest-ever payout on a single wager in the history of U.S. legal, regulated sports betting.
Through a series of other bets, McIngvale walked away with a total of $75 million.
But what is he doing with the money?
McIngvale is using the funds to pay for a promotion in which he sold $3000 mattress sets with the promise that folks would get their money back if the Astros won the world series. So even though McIngvale won the money, it was his customers that ultimately won free mattresses. McIngvale has a long history of taking care of not only his customers, but Houston in general.
Mattress Mack is a good guy
McIngvale has opened up his stores as shelters to Houstonians displaced by flooding during hurricane Harvey and tropical storm Imelda. He also opened his doors during the power grid failure of 2021 that left many Texans in freezing temperatures inside their own homes.