“Mattress Mack” Cashes In With Astros
Jim McIngvale is known around the sports betting industry as “Mattress Mack” as he owns a furniture store in the Houston area. He is also a big name in the U.S. sports betting industry, and he just cashed in for a win that has never been seen before in the industry.
Mattress Mack hit up six different online sportsbooks during the summer and bet big on the Houston Astros to win the World Series, when they were getting odds around $400. The bets were placed in Louisiana, Iowa, and Nevada, and there were over $10 million in wagers placed.
When the Astros defeated the Philadelphia Phillies in Game 6 of the 2022 World Series, McIngvale was able to cash in on a payout worth more than $75 million, which is believed to be the biggest win for a single event in history.
Caesars Sportsbook was hit the hardest by the Astros World Series win as McIngvale made three separate $1 million wagers back in May. Houston had odds set at +1000 to win the title at that time, meaning Caesars Sportsbook was forced to payout $30 million across the three wagers.
This big win by the Astros was also a huge boost to those in the Houston area that shop at the furniture store owned by Mattress Mack. He routinely offers massive promotions and giveaways after his bets hit, and this is nothing new for McIngvale.
Iowa Hit Hard By the Bets
The state of Iowa is not a huge sports betting market, and the big wins from Mattress Mack in the state are going to hurt the October numbers when they are announced. Betfred and Unibet were the two sportsbooks chosen by Mattress Mack, and the bets that were made in July represented a large portion of the 2022 handle.
After paying out the future bet on the Astros win, Betfred is going to be in the red for the 2022 calendar year. Unibet Sportsbook recently announced that it was leaving the state of Iowa, and it is going to be doing so after taking a significant hit.
The October sports betting numbers for Iowa should be out soon, and there is a real possibility that the revenue could be in the red for the entire state.
Penn National Can Bounce Back
Penn National is the parent company of Barstool Sportsbook, and it’s been a terrific 2022 calendar year for that sportsbook. Barstool Sportsbook had to pay out $10 million to Mattress Mack with the Astros win, and that is a pretty significant blow for the October numbers.
One thing that can counter the big loss with this wager is that the Barstool Sportsbook is now open in the state of Kansas. Barstool was celebrating the big wager by Mattress Mack, and this operators continues to see tremendous growth throughout the country.
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