Houston-based furniture mogul Jim “Mattress Mack” McIngvale is back with another big bet, wagering $1.2 million on Alabama to defeat Georgia in Monday’s college football national championship game via the Caesars Sportsbook app in Colorado.
McIngvale made his wager at +125 on the moneyline, which has since moved to +115. (In a press communique, Caesars said a bettor from Louisiana also used its sportsbook app to wager $300,000 on the Alabama moneyline.) Caesars has Georgia favored by 2.5 points to defeat the Crimson Tide, despite the fact that Alabama demolished the then-undefeated Bulldogs by a score of 41-24 in last month’s SEC championship game.
Potential win: $1,500,000
— Caesars Sportsbook (@CaesarsSports) January 6, 2022
“I was surprised that Georgia was favored [in the national title game],” McIngvale told CO Bets, adding that he also made large wagers on the Crimson Tide with Barstool Sportsbook and theScore Bet, while declining to specify the dollar amounts.
Those two books recently took $2 million worth of McIngvale’s action on the New England Patriots to win the Super Bowl at odds of 23/1.
“It’s a longshot, but it was a longshot when it started,” McIngvale said of his Super Bowl bet. “They’re in the playoffs, so they’ve got a shot. I think they went from 23/1 to 12/1, so it’s heading in the right direction.”
While the New England bet was purely a value play, the ‘Bama bet is, in part, a hedge against one of McIngvale’s famous promotions. In this case, if a customer buys a mattress for $3,000 or more and Alabama wins, they get their money back.
“It’s both a hedge and a bet I like,” said McIngvale.
An efficient jet-set betting process
McIngvale ventures outside his home state to place his wagers by phone because sports betting isn’t legal in Texas, and might not be for some time. Speaking to Sports Handle recently, McIngvale put the over/under on when the Lone Star State would legalize sports betting at 10 years — adding that he’d bet the over.
To place his bets, McIngvale typically flies to Colorado, where mobile betting is legal anywhere within state lines. And once he gets there, he’s not long for the Centennial State. When asked to explain his betting ritual, McIngvale replied, “Touch down, go inside the terminal, bet, get back on the airplane, come home. It’s kind of boring.”