You think you had a tough night as an Astros fan? Think again.
The man known as “Mattress Mack” (his real name is Jim McIngvale) lost a boatload of money after Houston’s Game 7 loss to the Washington Nationals. Like, we’re talking lots and lots of dough. Okay, we’re talking $13 MILLION PEOPLE!!!! According to The Action Network, McIngvale could have netted roughly $25 million had the ‘Stros held on for the victory.
The following is a transcription from For The Win:
Jim “Mattress Mack” McIngvale, a 68-year-old furniture mogul and philanthropist, told The Action Network he lost “more than $13 million” in bets after the Washington Nationals defeated the Houston Astros, 6-2, in Game 7 of the World Series. …
McIngvale had spent the past month betting millions on his beloved Astros to win the World Series as a means of hedging a season-long promotion running at his furniture stores that promised to refund all purchases of more than $3,000 if the Astros brought home the title.
Mack has said his liabilities for the promotion are north of $20 million.
Now THAT is how you Hedge a bet!
McIngvale, who owns Gallery Furniture in the Houston area, reportedly spent around $10 million through the first three games of the series. To give you some perspective, the cheapest ticket available for the Game 7 was $337 according to ESPN. That could have bought 29,674 tickets; 72% of Minute Maid Park’s seating capacity (41,000)!!!!
Luckily McIngvale has a reported net worth of $75 million so he should be okay.
(H/T FTW)
