Jim “Mattress Mack” McIngvale has placed a significant wager on the Houston Cougars in the men’s NCAA tournament, showing his confidence in the team’s abilities. If Houston emerges victorious, McIngvale could potentially win a substantial sum. (Photo by Bob Levey/Getty Images)
A prominent figure in Houston, Mattress Mack has once again demonstrated his support for a local team through a substantial bet.
Caesars Sportsbook revealed on Wednesday that Jim McIngvale, a well-known business owner in the mattress and furniture industry, has placed a $1 million bet on the Houston Cougars to win the men’s NCAA tournament. The odds were set at +750, indicating a potential $7.5 million payout for McIngvale if the Cougars secure the championship.
BetMGM ranks the Cougars as the third favorite to secure victory in the NCAA tournament. The top spot is held by defending champion UConn at +500, with Purdue slightly ahead of Houston at +700. Notably, these three teams are the only ones with odds better than 10-1, with Arizona following as the fourth favorite at +1000.
Currently, the Houston Cougars hold the top spot in the AP Top 25 rankings and lead the Big 12 standings in their debut season in the conference. They maintain a one-game advantage in losses over Iowa State and a three-game margin over Kansas and Baylor, navigating through what is widely considered as one of the most challenging conferences in collegiate basketball.
Known for his involvement in sports betting, McIngvale has strategic reasons for supporting local teams. In 2021, he placed substantial bets on the Houston Astros to win the World Series against the Atlanta Braves, coinciding with a promotion in his stores that promised mattress refunds if the Astros became champions.
Unfortunately, the Astros did not claim the World Series title, as the Braves emerged victorious. However, McIngvale upped the ante for Super Bowl LVI in 2022 by wagering $5 million on the Bengals to defeat the Los Angeles Rams, marking the largest bet in regulated sportsbook history in the US. Despite the odds of +170, the Rams ultimately won the game, resulting in McIngvale’s loss.