Super Bowl LVI is just a little over a day away and the churn of sports betting handle is deafening. But among the chinking of recreational bets, there are a few whales that you would probably want to keep an eye out for because of the sheer size of the individual wagers they place. One such is the total wagers stacked by businessman Jim McIngvale who is better known by his moniker “Mattress Mack.”
Mattress Mack Running $9.5M on Bengals to Win Super Bowl LVI
The man now has a total of $9.5 million on the Cincinnati Bengals to win the Big Game, after increasing his selection by an additional $5 million, Caesars Sportsbook, which accepted the man’s wagers, said on Friday. If Mack wins, he stands to enjoy a very juicy $16.2 million payday.
While companies have been ponying up millions to have their brands displayed in 30-second spots during Super Bowl’s commercial breaks, Mack has tagged his name along smartly, using his own furniture-store empire marketing nous to promote his brand. Mack is willing to pay back any customer who has purchased a set of furniture should the Bengals win.
“If a customer comes in and buys a $3,000 mattress or a $3,000 reclining sofa, reclining loveseat, or reclining sectional, and the team from Cincinnati wins, they get their money back.”
Mattress Mack
It’s a smart business decision and it has seemed to mostly work because Mack is reportedly making a tidy sum win or lose. It has also become his signature style which no other company would be able to quite emulate without looking like an out-of-ideas business encroaching on Mack’s ingenuity.
As to the man himself, he argues that his decision is “a lot sexier than liability insurance.” He is not shy to share the numbers he expects to sell either. He should be able to flip $20 million worth of products by the end of the promotion. He is double unapologetic in explaining the economics on his decision:
Best Case Scenarios and Huge Payouts Looming
“If they lose, I lose the money on the bet, but I have the customer’s money, so it’s a wash,” Mack argues. He admits that the best case scenario would be for the Bengals to win to get his investment on the bet back and customers may get their money back.
This is a tremendous boost to the man’s popularity who has not shied away from making such eye-watering wagers for what is now 15 years. The $9.5 million totaling his support for the Bengals is also the single biggest sports bet placed with a regulated sportsbook in the United States.
Mack had Lady Luck smile on him back in 2017 when the Los Angeles Dodgers won the World Series, fetching the man $15 million in betting windfall. However, the odds are stacked against the Bengals. The team has not won a Super Bowl title since 1988. On the plus side, the internet has erupted with jabs that rapper Drake’s own bet on the Rams to win has jinxed the team, so Mattress Mack may be in luck after all.