A Texas furniture store owner could win the largest sports bet payout ever depending on who wins the 2022 World Series between the Philadelphia Phillies and the Houston Astros.
Jim McIngvale, also known as “Mattress Mack,” told ESPN he put $10 million on the Astros, splitting the bet across different platforms, including $1 million with WynnBET and $3 million with Caesars Sportsbook. The Astros’ odds of winning are roughly +750 across the sports betting apps, meaning that if McIngvale is right, he would win a combined $75 million.
Sports betting analytics firm Action Network confirmed this week that $75 million would be the largest ever payout.
McIngvale said Friday that he has a high tolerance for risk and is comfortable betting on the Astros because the team has been a finalist for the World Series for the past five seasons.
“They replace people so well,” he told ESPN. “They’ve got a great scouting system, great analytics and I think Jim Crane is the best owner in baseball.”
The Astros finished the regular season with a 106-56 record and beat the New York Yankees last Sunday to earn a spot in the World Series. Game 1 of the World Series begins Friday at Minute Maid Park in Houston.
McIngvale is hoping for a better outcome this year than last season, when he bet $3.2 million on the Astros and the team lost. A win this time would benefit customers at his Houston-area Gallery Furniture stores. McIngvale said he would use the $75 million to cover the costs of a new promotion where anyone who spends $3,000 or more on mattresses would get their entire purchase for free.
“If the bet hits, then I’ll get the $10 million in capital back that I invested, so I don’t have any costs in the promotion,” McIngvale told CNBC on Friday. “And if the Phillies win, then I’m out the $10 million, so I have a vested interest in this either way, but my real interest in making sure the customers win.”
McIngvale has become famous for his multimillion dollar sports bets across football, college basketball, baseball and horse racing. He won an estimated $15 million when the University of Kansas won the NCAA men’s basketball tournament in April, CBS Sports reported. McIngvale lost nearly $10 million earlier this year when he bet that the Cincinnati Bengals would win the Super Bowl. He also lost $1.5 million earlier this year on the Kentucky Derby, according to Bleacher Report.
McIngvale also drew attention last year for allowing hundreds of local residents to shelter in his Gallery Furniture stores in 2021 when a massive snowstorm left Texans without heat or power. In 2017, he also transformed some of the stores into shelters after Hurricane Harvey hit.