VIDEO: Mattress Mack Looks Completely Defeated After Losing a Ton of Money
By Chris Russo
Despite having all the money in the world, Mattress Mack took a giant L on Wednesday night along with the Houston Astros. The Houston-area furniture magnate Jim McIngvale lost a ton of money on his hometown Astros, quite literally sinking with the ship.
“Mattress Mack” spent a lot of time & money flying around the country gambling to hedge his $20 million in liability from his “Astros win” promo. He wanted to give away the mattresses & furniture. With the Astros down 4 into their final at bats, the realization is setting in. pic.twitter.com/uBxErEbP40
— Darren Rovell (@darrenrovell) October 31, 2019
Mattress Mack created a promotion two years ago that offered a refund on any purchase over $6,000 if the Astros won the World Series. When they did just that, he lost about $10 million.
This year, he offered the same promotion, but only on purchases over $3,000. Mack admitted he would lose about $20 million if the Astros won this time around, so he decided to make a series of bets favoring Houston which totaled about $11 million.
While Mattress Mack hedged his bet, he technically lost $20 million, but also doesn't have to run a promotion this year, which is a lone bright spot. However, considering he's an Astros fan, this moment is bittersweet.
Mattress Mack’s month-long betting extravaganza has come to an end https://t.co/7t13WTL3GN
— Darren Rovell (@darrenrovell) October 31, 2019
Mattress Mack has enough money at this stage in his life, and is more than willing to take the same risk in the future.
"I would do this again tomorrow - and I probably will," Mack said.
Must be nice to have that kind of dough.