Texas’ Own Mattress Mack Talks Strategy on Winning and Losing Big Money
If you live in Texas, you've heard of Mattress Mack
If you live in Texas, there is a really good chance you've heard of one of Houston's biggest superstars, " Mattress Mack". You've likely then heard of some of this furniture magnate's HUGE bets he offers to his Gallery Furniture customers IF his Texas team wins.
Real name, real big bets
And according to Forbes Magazine, every Texas team is Mattress Mack's team!
Mattress Mack, whose real name is James Franklin "Jim" McIngvale, is known to place multi-million dollar bets on Texas teams, or as Forbes offers in their recent article featuring McIngvale, Mac bets on either a Texas club or one closest geographically to his home state."
Sure, his bets are crazy big, but one of the biggest reasons Mattress Mack is so well known and admired is his obvious love for the great state of Texas!
Equally, Texas has served him well in his family furniture business. Opening his furniture store alongside his wife Linda in 1981 it's estimated that Mac is worth over $300,000,000. But to Texans, this man is priceless.
To Texans? This man is priceless.
McIngvale's latest bet, on NCAA's Kansas Jayhawks, was a $5 million dollar bet where he offered his customers who spent $3,000.00 or more on furniture would receive a full refund if the Jayhawks won.
It was a win-win when the Jayhawks pulled through during one helluva basketball game. In February he made history with the largest legal sports bet ever, according to CBS Sports, placing a $5 million dollar bet on the Bengal Tigers. in which he lost nearly $10 million dollars when the Bengals lost.
So what's the strategy?
Well, have you ever heard of Mattress Mack?
In the Forbes interview which you can read in its entirety here, Mattress Mac offers this sound advice, "There's no advantage in doing this if you take a negative proposition wager to cover the losses,” followed by, “It's about the strongest word in the English language which is ‘free,’ ‘free,’ ‘free."
It's the opportunity to get something for free that brings his customers in.
With that, another thing we also know as Texans about Mattress Mack is that he is incredibly generous. Check out Gallery Furniture's website under the Community Outreach page here. This is a huge reason why Texans cheer for McIngvale when he wins or loses.
Go Team Mack!
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