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MIAMI — Give Mattress Mack credit: He doesn’t give up.
Jim McIngvale, the Houston-based owner of Gallery Furniture who is better known as “Mattress Mack,” has been betting against the Kansas City Chiefs this postseason and paying dearly for it. He’s not done.
BetMGM had been preparing Wednesday for a $1 million Super Bowl LIV bet on the San Francisco 49ers, and it came in. The bet was from McIngvale, according to The Action Network.
His bet on the 49ers was on the moneyline at plus-120 odds, which means the 49ers need to win straight up to take home a $1.2 million profit on the $1 million bet.
As of Thursday morning the betting line hadn’t moved. The Chiefs were still favored over the San Francisco 49ers by 1.5 points.
Mattress Mack has been losing vs. Chiefs
BetMGM had taken three six-figure bets before Mattress Mack weighed in, and all three were on the Chiefs. The last big bet, for $550,000, caused the point spread to move from 1 to 1.5 points.
Mattress Mack has been trying to cash in against the Chiefs all postseason.
He lost a $1 million bet on the Houston Texans to beat the Chiefs straight up in the divisional round. The Texans lost 51-31. Then he bet the moneyline on the Tennessee Titans in the AFC championship game. The Titans lost 35-24. And McIngvale was down $2 million.
Maybe he believes the third time is the charm.
Mattress Mack lost on Astros too
Mattress Mack gained some notoriety last year when he lost nearly $12 million on bets for the Houston Astros to win the World Series. He reportedly won similar bets in 2017, and said his furniture store profits mitigated the losses last year when the Washington Nationals beat the Astros to win the World Series.
He has tied his bets into advertising for his stores, and did the same with the 49ers on Wednesday.
The Chiefs have been on a nice roll in the playoffs. And it has cost Mattress Mack a fortune, with one more chance to make some of his money back.
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