The Furniture Tycoon Who Bet Big … And Lost

Sports betting is a big industry, and for good reason. It’s thrilling! Chasing the odds, the excitement when a long shot pays out … It’s an exciting way to bond with fellow sports fans, and to sometimes make some money in the process. Since Nevada first legalized sports betting in 1949, an industry has sprung up that has led to some big wins, and some big losses.

Meet “Mattress Mack”

One such story of both wins and losses stems from Jim “Mattress Mack” Mcingvale. He is the owner of the Gallery Furniture retail chain, a furniture outlet housed out of Houston, Texas. He is an incredibly successful businessman, and he is also a huge fan of baseball, specifically the Houston Astros.

Jim has created a name for himself with his habit of betting on the Astros World Series games. Since the early 2010’s, he has placed a massive bet on the game, with the intent of using his winnings for good, if there are any.

It’s Just Good Business

See, Jim doesn’t just bet on the game for himself. He does it for the customers of Gallery Furniture, as well. Over the years, Jim has promised his customers that if the Astros win the World Series bet, he’ll refund the cost of certain mattresses over $3000. The winnings from the game cover the cost of the refunds.

The promotion is wildly successful, even on years when the team doesn’t take the title. Jim has become known in his community for his philanthropic endeavors, which makes it good fun for everyone involved to see if the team will take the championship.

Not Just Lip Service

Jim puts his money where his mouth is, too. In 2017, he refunded $10 million worth of merchandise to his customers when the Astros won their game, proving his willingness to give back to his community and to follow up on his promises.

Of course, for every story of success, like the one from 2017, there are stories of failures. When you bet on a game every year, even when a team has had a string of very successful wins like the Astros have, there’s the chance of losing. And, unfortunately, that’s what happened this past year.

This Year, Like Those Before

This year, like the years previous, Jim bet on the Astros with the intent of giving back to his customers if the team won big. Even when the team loses and the promotion doesn’t go through, the news coverage of his betting has led to great exposure for the store, so it’s a tradition that he’s happy to continue.

While he wouldn’t disclose the total amount that he bet on the game, only saying that it was a deep secret, it was clear that Jim had bet a lot on his beloved team. The Astros were against the Rangers this year, a challenging competition on the baseball field.

The Most Fun Kind of Stress

Near the end of the game, though, the Rangers were up 8-2. It was clear that the chances of the Astro winning the game were in danger, and with it, the chances of Jim winning his bet. The Rangers went on the offensive, and Jim was on the edge of his seat waiting to see the outcome of the game.

Ultimately, it ended up being for naught. The Astros couldn’t come back from a 2-0 series deficit, even with all their players putting in their best efforts. The defeat was even greater as it happened on their home turf, making it a disappointing loss, even if someone didn’t have money bet on it.

Not The First Time Jim Has Suffered A Loss

As a regular sports better, this isn’t the first time that Jim has lost big. He lost nearly $10 million dollars on bets in the 2022 Super Bowl, and lost $1 million on the Titans to win the AFC championship in 2021.

Likewise, when Jim has won in the past, he’s won big. In 2022, his bet on the Astros World Series game won a record $72.6 million on a bet of only $3 million with 10-1 odds. It’s an unexpected thrill when a bet pays off, the same as it’s a true disappointment when it doesn’t.

It Goes Beyond the Wins, or Losses

More than the loss of his money, though, Jim says that the biggest blow is to his feelings. It’s a common saying in the gambling world that when you bet, you bet with your head. For Jim, many say that he bets with his heart, because he cares so much for the team and the ultimate goal of the winnings.

Beyond just the promises that he makes to his customers on the World Series bet, Jim has spent a good deal of money on charity and other philanthropic endeavors. In 2017, he turned his stores into temporary shelters for people who were displaced by Hurricane Harvey, and again this September after Tropical Storm Imelda.

More For Jim, and More For The Astros

Suffice to say, Jim has made a name for himself not only in the business world as a smart and generous business owner, but in the betting world. He’s a man willing to lose with grace, and win with even more.

This won’t be the final time that Jim bets, or the final time that he loses, either. At 71 years old, Jim has lived a good, long life, and his bets on the Astros are a part of that. When asked if he would bet on the Astros again this year, if he had known then what he knows now about their loss, the man merely smiled, and said yes.