Friday, November 3, 2017

Mattress Mack Loses $10 Million in World Series Bet, But Really Gives Back to Houston

Posted By on Fri, Nov 3, 2017 at 11:01 AM

click to enlarge PHOTO VIA INSTAGRAM, JAMAICANJASON62
While San Antonians might not know him by name, you probably recognize Jim "Mattress Mack" McIngvale as the guy who opened his furniture store's doors to Houston's displaced during Hurricane Harvey in August.

Even months before the storm that ravaged through eastern Texas, the furniture mogul made a bet with his customers. If they spent more than $3,000 on a mattress from his Gallery Furniture store, he would refund them if the Houston Astros won the World Series.

And as we saw Wednesday night, Houston's baseball team did just that, and for the first time in franchise history.

"The Astros inspired the city. We're thrilled to give this money back to excited customers. We bleed orange out here," McIngvale told Chron.com.

But even though his act was out of pure genorosity, that doesn't mean Mattress Mack is really losing all that money. According to ESPN, he supposedly took out an insurance premium to cover some of the cost of what he would have to pay back customers and placed bets on the Astros in Las Vegas, earning him at least $1 million.


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