Astros Fan ‘Mattress Mack’ Could Lose $15 Million If Team Wins World Series
Furniture store mogul and Astros fan Jim McIngvale, known to many as "Mattress Mack" could take a loss of around $15 million dollars if the Astros win the World Series as many expect them to. Why is this happening? Follow me down the rabbit hole of bad decisions...
"Mattress Mack" excited about the Astros possibly winning a second title in three years, so he started a promotion giving customers a refund on their purchase if they spent "at least $3,000 on bedding at his store" according to brobible.com.
Cool idea huh? Eh, not so much. If the Astros win the World Series again this year it's estimated "Matress Mack" will have to pay out as much as $15 million bucks in refunds.
Trying to avoid financial ruin after realizing he made a seriously bad decision, he started looking for any bookie in the country that would let him make a $10 million dollar bet on the Astros to win the World Series.
Shockingly, no one was willing to accept his bet.
Here's where it gets even more weirdish...
A casino has now accepted a $3.5 million bet from "Mattress Mack". This will net him a profit of $7.7 million if the Astros win another championship.
Do you see what the problem is?
If "Matress Mack" wins his casino bet, he will still possibly lose up to almost $7.5 million after he honors his store's refund promotion. I guess maybe the casino bet isn't as crazy as it seems because if he wins, it will at least cut his losses roughly in half.
Here's the real knife through the heart for this crazy Astros fan. The best-case scenario for "Mattress Mack" is for his beloved Astros to lose the World Series. If they lose, he won't have to honor the $15 million in refunds and will only be out the $3.5 million from the casino bet.