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HomeSportsHedge fun: A store owner bets $3.35 million on the Astros.

Hedge fun: A store owner bets $3.35 million on the Astros.

Jim “Mattress Mack” McIngvale, a Houston furniture store owner known for his large bets and promotional giveaways, has bet more than $3 million on the Astros to win the World Series and says he’s not done yet.

McIngvale bet $2 million on the Astros at 10-1 with Caesars Sportsbook by William Hill in Indiana on Tuesday. According to William Hill, the bet would pay a net $20 million and would be one of the largest wins in US sports betting history.

McIngvale stated that he has $1 million on the Astros at 10-1 with FanDuel in Indiana, $250,000 with DraftKings, and $100,000 with The Score sportsbook in Colorado, where Houston was 16-1.

He will now begin to mitigate his $3.35 million risk by holding a promotional giveaway at his Gallery Furniture store. Customers who spend $3,000 or more over the next few months will get their money back if the Astros win the World Series, while McIngvale will win $35.6 million on his bets, as well as publicity for his store.

The Astros (45-28), who have won nine straight games, have the best record in the American League heading into Wednesday’s action.

“We’ll see what happens,” McIngvale told ESPN on Wednesday. “The Astros have six good pitchers and a lot of great hitters, so we’ll see what happens.” “I thought it was an overlay at 16-1 and 10-1, so I’m in it to win it. Stros, go!”

Thirteen teams have drawn more bets to win the World Series than the Astros at Caesars Sportsbook by William Hill, but the bookmaker will now pay much closer attention to Houston.

“This wager certainly makes baseball season a little more exciting for us, and we’re looking forward to seeing how that plays out,” said Eric Hession, Caesars Entertainment’s co-president of sports, in a company release.

McIngvale is a well-known Houston figure who has opened his store to those in need of shelter during hurricanes and winter storms. He is also a fan and bettor for the local teams. He bet more than $11 million on the Astros to win the World Series in 2019. Houston was defeated in the World Series by the Washington Nationals. He lost $1 million earlier this year on a bet on the Houston Cougars to win the NCAA men’s basketball tournament, but he won $2.7 million on the Tampa Bay Buccaneers to win the Super Bowl against the Kansas City Chiefs in February.

“I’m sure I’ll be putting more [on the Astros] as the season progresses and we hopefully make the playoffs,” McIngvale said. “I’m not finished yet, but I’m about 80 or 90 percent finished.”

source

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