Houston businessman lost a lot of money betting on Major League Baseball
Mattress Mack is a popular local businessman in Houston, Texas, with his mattress selling company raking in yearly profits that allow him to run promotional sporting bets.
Generally, he places bets on the outcome of sporting events, usually those involving local Texas franchises, through promotional sales in his mattress stores, and as a result even if the bets lose, he generally still turns a profit as a result of more people coming to his store.
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In 2022 Mack, real name Jim McIngvale, won a staggering $75 million after wagering that the Houston Astros would win the World Series, although he then lost $43 million dollars when he bet on the team to repeat the triumph in 2023, which they failed to do.
His bets aren’t limited to Major League Baseball either, with Mattress Mack having also lost significantly in the NFL betting market in 2023.
Mack made huge losses when he bet on the Kansas City Chiefs to lose in the playoffs twice in a row, yet the Chiefs ended up winning it all after reaching the Super Bowl.
“You cost me millions betting against you,” Mack told Mahomes as was reported by Sports Illustrated.
Mattress Mack could turn his fortunes if he repeats his bets on the Chiefs in 2024
However, there is reason to believe that if McIngvale wants to actually win money on the NFL playoffs this season, he could do so by merely repeating his bets from last season.
Three shock defeats to the Buffalo Bills, Green Bay Packers and the Denver Broncos have let the defending champions with an 8-5 record.
Whilst their path to the playoffs isn’t seen to be in danger, it seems they will not have their usual advantage of securing home-field football in the post-season.
Aside from the year where the playoffs were impacted by COVID-19 and had to be played in a bubble, the Chiefs have never played a road playoff game with Patrick Mahomes as the starting QB.
However, in doing so in this season’s playoffs they are far more likely to suffer a defeat. This is where Mattress Mack could make his money back.
The Chiefs have such a strong roster that betting against them is still worthwhile, even if they aren’t as reliable on the field. As such, he would be in line to make a substantial winning if he again bet on the Chiefs to lose in the playoffs.