Jim "Mattress Mack" McIngvale, the Houston-based owner of Gallery Furniture, suffered a high-profile loss after wagering US$2 million on the New England Patriots in the Super Bowl. The Patriots, favoured at 2-1 odds, were defeated 29-13 by the Seattle Seahawks, leaving McIngvale with a straight betting loss of US$2 million. The wager was linked to a retail promotion promising customers who spent US$4,000 on mattresses and related products a full refund if the Patriots won.
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Despite the loss, the campaign generated significant publicity for his brand, reflecting McIngvale's long-standing strategy of using high-stakes bets to drive marketing and sales. At 75 years old, he is widely respected in Houston for blending charity, promotional stunts, and sport. Over the years, McIngvale has experienced both extremes of this approach, including a US$75 million win on the Houston Astros in 2022, as well as other seven-figure losses on major sporting events. His Super Bowl record remains mixed, demonstrating the high-risk, high-reward nature of his marketing strategy.
Source: www.stuff.co.nz
