On Wednesday, Jim "Mattress Mack" McIngvale decided to increase his total World Series wager by placing an additional $1 million on the Houston Astros.
Prior to this bet, Mack had a total wager of $8.25 million which would net him more than $15 million if the Astros won the World Series. According to Action Network's Darren Rovell, Mack plans to place a $1 million on the Astros at -118 odds, which would net an additional $847,000.
In October Mack placed his initial bet of $3.5 million on the Astros to win the World Series. The bet, which was placed at the DraftKings sportsbook in Tunica, Mississippi, was listed at +220 odds, giving him the chance to win $7.7 million.
Mack, the owner of Gallery Furniture in Houston, first stepped into the spotlight in 2017, when the Astros made their pervious World Series run. During this time, Mack promised to refund Gallery Furniture customers who spent $3,000 on mattresses, if the Astros won the World Series.
This year, Gallery Furniture's "Win it All" promotion is slightly different. Customers who made purchases by October 18 will be given full refunds, but purchases made afterwards will be eligible for a 50 percent off rebate.
Mack's bets are a partial hedge on his "Win it All" promotion, which has a total liability of around $20 million. According to Apex Marketing Group, he has also received slightly over $5 million thanks to media coverage of his bets.
The Astros game one loss to the Washington Nationals actually helped Mack, allowing him to make his latest bet with better odds.
Since McIngvale is betting such high amounts, he has had to place his bets in a number of different sportsbooks. After placing his first bet in Mississippi, he traveled to New Jersey to bet another $1.5 million at the Fanduel sportsbook. On October 12, he placed two separate $500,000 mobile bets in New Jersey.
He then placed another $250,000 at +300 odds, on October 13, increasing his total investment to $6.25 million. For the following three days, Mack placed two separate $500,000 bets at +210 and +160 odds. He then placed an additional $350,000 on October 18, at +155 odds.
Mack's total wager was brought to $8.25 million on October 19 when he placed another $1 million bet.
On Wednesday, accompanied by Darren Rovell, Mack flew back to Mississippi to place his final $1 million bet.
"Off to Mississippi with "Mattress Mack" to place a quick $1M bet, then fly back to Houston for Game 2," Rovell tweeted.
Off to Mississippi with “Mattress Mack” to place a quick $1M bet, then we fly back to Houston for Game 2. pic.twitter.com/QEqRm6q3Yq
— Darren Rovell (@darrenrovell) October 23, 2019
Although most of his bets are documented, Mack estimated that he's spent much more -- at least $10 million, he told Rovell.
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