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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) Login to Bookmark
  Tags: astros, gambling, world series

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