HOUSTON (KIAH) — With March Madness upon us and the Final Four coming to Houston this year, it is an obvious assumption to ask the question, “How much money is Jim ‘Mattress Mack’ McIngvale has riding on the NCAA Tournament this year?”
Well, to answer your question, he has about $3.5 million riding on his hometown team, the University of Houston Cougars, to win the national championship in front of a very supportive home crowd at NRG Stadium.
Houston begins its run in the NCAA Tournament on Thursday night as the No. 1 seed in the Midwest Region when the Cougars face Northern Kentucky in Birmingham, Alabama.
And as usual, McIngvale has promised to share his winnings with his customers at his furniture stores in Houston. All customers have to do is buy $3,000 or more from his store, then they can get it for free if the Cougars go through the NCAA Tournament and win the national championship game on Monday, April 3.
But personally, Mattress Mack can win up to $35 million if UH wins the national title. He made his $1 million bets at three sportsbooks, including one at Caesars Sportsbook at the Horseshoe Casino in Lake Charles, Louisiana.
McIngvale also made $500,000 bets at BetMGM and Barstool Sportsbook.
Ever since McIngvale made his record-setting $75 million winnings when the Houston Astros won the World Series last year, Mattress Mack has suffered betting losses of about $7 million, losing bets on the Dallas Cowboys in the NFL playoffs and the TCU Horned Frogs in the College Football Playoff National Championship Game.
But Mattress Mack has had past success with the NCAA Tournament, winning last year with Kansas over North Carolina.