‘Mattress Mack’ doubles down on Alabama, bets $1.5M more
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Mattress Mack is back with another massive bet on Alabama.
Houston furniture store owner Jim McIngvale, aka “Mattress Mack,” placed a $1.5 million wager Sunday on the Crimson Tide on the money line (+115) to beat Georgia in the College Football Playoff national title game Monday in Indianapolis.
Mack, who made the wager on the Caesars Sportsbook mobile app, previously placed a $1.2 million money line bet at Caesars on Alabama (+125).
He has a total of $2.7 million riding to win $3.2 million on the Tide.
McIngvale’s multimillion-dollar wagers are hedge bets to offset possible losses on a promotion at his Gallery Furniture stores that offer refunds on purchases of $3,000 or more if Alabama wins.
In October, to hedge a similar promotion, Mack lost $4 million in wagers on the Houston Astros to win the World Series that would have paid $36.6 million had they won. They lost to the Atlanta Braves in six games.
No. 3 seed Georgia is a consensus 2½-point favorite over No. 1 Alabama in the title game after the line had climbed to 3. The Tide upset the Bulldogs 41-24 in the Southeastern Conference championship Dec. 4 as 6½-point underdogs.
UPDATE: final score Georgia 33 Alabama 18