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Wednesday, October 30, 2019

New Jersey sports books could lose millions to high roller ‘Mattress Mack’ if Astros win World Serie

The Houston Astros are one game away from winning the World Series, something that would be costly for New Jersey sports books — largely due to one bettor who doesn’t even live here but has wagered around $4 million on the Astros winning it all.

Jim “Mattress Mack” McIngvale has been making headlines back in his home state of Texas for the large bets he has been placing on the Astros to win it all. The furniture mogul who owns three Gallery Furniture stores in Houston is offering a promotion to his customers where he would give full refunds up to $3,000 if the Astros win.

“I believe in the Astros,’’ McIngvale told the Asbury Park Press. “I’ve watched them play all year.”

The bets are in part a hedge against the cost of the promotion, said Darren Rovell, a sports business analyst and betting expert who works for Action Network.

Somewhere, Sport Sullivan is kicking himself….

 

QLE Posted: October 30, 2019 at 12:23 AM | 28 comment(s)
  Beats: astros, gambling, new jersey, world series

Thursday, October 03, 2019

Houston Mattress Magnate bets millions on Astros to win World Series

People in Houston need no introduction to Jim “Mattress Mack” McIngvale, who owns Gallery Furniture in Houston. A lot of sports fans may not either, as he’s made quite a name for himself by associating his business with both the highs and lows of the Houston Astros over the years.

I don’t know much about his business at large, but he’s been on our radar for several years. Back in 2014, when the Astros were absolutely terrible, he promised a customers who spent a certain amount of money on furniture at his store a refund if the Astros didn’t lose 100 games that year. They lost only 92 games and Mattress Mack had to pay out $4 million or so in refunds. In 2017 he did a similar thing except this time he offered big refunds if the Astros won the World Series. Which they did, of course, which cost Mattress Mack around $12 million.

Mattress Mack is at it again this year. He’s been offering customers who spend over $3,000 on stuff a refund if the Astros once again win the World Series, as they’re favored to do.

One might think that this is irresponsible, but you probably don’t become a successful furniture salesman if you’re not savvy about such things. I mean, without even knowing anything about the guy or listening to him explain himself, it’s a very safe assumption that the guy simply — and correctly — figured that his offer was great, mostly free advertising, that it increased sales volume and that it might’ve inspired people on the fence to buy something. His margins, along with some well-thought-out conditions on the refund offer, no doubt ensures that his “crazy” promotion will do more good than harm for his business.

If only the teams could be this flamboyant with their promotions….

 

QLE Posted: October 03, 2019 at 12:19 AM | 0 comment(s)
  Beats: astros, gambling, world series

Monday, August 12, 2019

The Orioles pulled off an astronomical upset over the Astros

The Houston Astros are a very good baseball team. The Baltimore Orioles are ... not a very good baseball team.

Still, over the course of a 162-game season, every blind squirrel finds an acorn. And even the Orioles (39-78) can beat the Astros (77-41). Sunday’s comeback win by the Orioles marked one of the biggest upsets in MLB history

According to ESPN, the Orioles were listed as +420 underdogs by some sportsbooks. Some of it might have had to do with Houston’s 23-3 rout on Saturday and the fact that ace Justin Verlander was starting for the Astros.

The next sound you hear is that of a group of bookies trying to welsh on their debts.

 

QLE Posted: August 12, 2019 at 08:18 AM | 10 comment(s)
  Beats: astros, gambling, odds, orioles

 

 

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