Mattress Mack Wins Record-Breaking $75 Million on Astros World Series Bet | Forbes
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- Опубликовано: 23 авг 2024
- America’s most famous furniture salesman has placed another outrageous multimillion-dollar wager on his beloved Houston. And he and his customers have about 75 million reasons to root, root, root for the home team.
For years, McIngvale, who owns the three-store chain Gallery Furniture, has made his headline-grabbing wagers not for gambling glory, but as sensible hedges against his big sales promotions. During the Super Bowl, March Madness, the World Series, and other events, Mack will place a giant bet on one team-either a Texas club or one closest geographically to his home state-and offer customers a full refund if they win.
During this year’s NCAA Men’s Basketball Tournament, for example, he wagered $5.5 million on Kansas and ran a promotion to refund all customers who spent $3,000 or more on certain types of mattresses and furniture if the Jayhawks won. Right after Kansas beat the University of North Carolina on Monday night, Mack and his 20-person sales team received a stream of text messages from their customers: We won! We won! “When does a furniture salesman get a text at midnight from a customer?” McIngvale asks.
One customer bought seven mattresses for a total of $38,000 and another bought $40,000 worth of furniture to outfit a new home. “I’ve always heard about his promotions on the news, but I never needed furniture until now,” says Robert Cruz, who has a new house full of new, free furniture. “When I heard the score I said, ‘Wow. That’s cool.”
McIngvale’s promotions and sports bets have helped him grow his business, which he started with his wife, Linda, in 1981. In 2019, Gallery had $164 million in revenue and by the end of last year sales grew by about 40% to more than $230 million.
The economics of McIngvale’s strategy has mostly paid off. During his March Madness promotion he bet a total of $9.86 million across four bets and won $13.5 million. (Mack’s bets were a $1 million futures bet on the East bracket to win $1.7 million, the only bet he lost, then $2.25 million on Kansas at +190 to win $6.5 million; $3.31 million on Kansas at +190 to win $6.3 million; and $3.3 million on Kansas at -200 to win $1.7 million.)
Gallery sold a total of $12.9 million worth of furniture during the promotion, so once he refunds all of his customers, which he will do on April 24 during a big party in his store, he’ll have more than a $500,000 profit.
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He opened his doors to help everyone during the hurricane while a certain Houston TV evangelist kept his closed. Mack is a legend!!!!
ABSOLUTELY ... perhaps a Saint among us ... Thankyou MM !!!
You mean Joel 😂😂
Smile
Amen 🙌
Amen to that. You were thinking of the very same instance that I was. We can pray that others take some of his model and put it into practice *hint-hint*
This guy does more for his city than the politicians.
Politics is about being reelected and not about working for your constituents, which is why I am for small government
How about he does more for the city than ANYBODY else?
#FACTS
infinitely more ... heart of a dozen lions ... stay well MM !!!
Betting isn't consistent with Christian or family values.
He’s the King of Houston, always helps out the community, he will forever be Houston’s King, long live Mattress Mack!
yea I hear he's not that nice. look it up there are stories
@@sschevmale24 Im 38 when I was 12 and my brother was in the hospital he came up to visit us and gave my mom a donation and since it was Christmas time he brought gifts, Everyone in Houston has the utmost respect for him.
Did you ever consider his "niceness" is just a clever little ploy to get you to buy furniture?
@@draneym2003 People in houston buy from his company because he always gives back to the city and other states when devastation hits.
@@sschevmale24 don’t rely on stories to determine that, you or literally anyone else can go talk to him right now. He is always at gallery furniture and will talk to any customer, he’s not hidden back in an office either bros always up front
Genuine dude. Spoke at my kids school years ago and was happy to talk afterward and take photos. Hes out for good in the world. we need more like him
He spoke at my middle school way back in the 90's
Phillies fan here; This guy is great. Our country needs more people like Mac.
Same. Agreed 100%
Mack is what all gamblers dream to be
But In the end, his conscious is clear through helping the city directly…. No doubt he’s gonna donate part of that money if the Astros win.
@@thanosmaster-abel559 he's already donated part of the money because he's gonna give all the families that bought mattresses a refund and that's substantial
I bet on sports and he's for sure an inspiration for me. Great person all around as well
Still will never forget this guy opening his doors to the displaced during Harvey... Just an upstanding guy.
Anytime Houston needs help, Mack is always there. Anytime we have had a natural disaster, Mack even opens up his showroom for families to live in. He donates mattress, food, water and puts his heart and soul into Houston. While Cruz went on vacay during the freeze, Mack was here helping anywhere he could. Houston is grateful. The Astros gave us more to celebrate! We are so proud of the Astros!!
Role model
What a great dude. He came to Houston with very little money and now look at him. Go Astros, they are a dynasty
Not a dynasty, they cheat
Dynasties don’t cheat
“A set back is just a setup for a come back” Mattress Mack
As a out of towner living in Houston full time now for about 8 years I can attest to this man being a local legend and more than that he is a good person. He does so much for the community and helps so many people who would not have any other chance if not for his generosity. Roll Tide Mac !!
During the floods he opened his furniture store first people to sleep and stay. They were allowed to stay on all the furniture. He's such a blessing to Houston. I'm 50yrs old and I remember he came to my middle school to talk to the kids about the dangers of drugs. Anybody remember those films they used to show in school of people overdosing and vomiting to get us to stay off drugs?
He is a very rich man, generous, thoughtful and down to earth. Gives out housefuls of furniture to 10 needy families yearly. Used to give out vacations to his employees, i don't know if he still does. Contributes time and money to his community.
You’re here after he won 75 million dollars.
Growing up in Houston, Mattress Mack totally belongs on the Mt Rushmore of our city!
I just heard about Mattress Mack today in a video talking about how during Huricane Harvey, he opened up his furniture store for displaced people to have a place to sleep and he provided food for all of them. What an incredibly good man with a beautiful heart and soul. May he be blessed a thousand fold for all the good he has done for others. We Love Mattress Mack!!!!!!!!
Does anyone else remember his commercial about Aunt Minerva's couch? I'm 48 years old, haven't lived on the gulf coast for many years now, but STILL remember 6006 I45 North between Tidwell & Parker! I'll always miss Mattress Mack AND Marvin Zindler, who also did so much for Houston!
"A setback is just a setup for comeback". Man that's awesome.
An absolute gem of a human being. He really found a great way to get the community together and create this unique experience of being from Houston and getting great furniture. In some way or another, mattress Mack has been involved in any Houstonians life by their parents getting furniture form there or a family member or something.
We're going to win this series for Mattress Mack for all he's done for Houston during Harvey and everything else this man deserves 75 million
he wins either way
no one deserves 75 mill. this is what’s wrong with society
@@OmegaSniper57 broke mindset
If you just think you’re going to win you haven’t seen the Phillies play……..
@@Toketree we played the Phillies right before the playoffs start in Houston they took the first game we won the last two matter of fact we won 10 nothing
Mattress Mack is the man! Congrats to Mack and the Houston Astros!
We love our Mattress Mac! Go Astros! 🎉
Mac is a good man that does great things for others’. He’s a legend here in Houston.
I lived in Houston for 2 years ago but my father lived there for around 25 years so I would visit a lot. Just from those 2 years there and the visits in the late 90s "Mattress Mack" was someone everyone knew. Whether because of what he did for the community or his advertising. He's very good at inserting himself into the minds of the public.
I don’t mind what he done . Right wing who cares . This guy has has bring joy to the city. Help young people with education. Help us when the city was at the worst. This guy is a legend
So he’s betting against the astros lmao
he’s a greedy pig like every millionaire
What's wrong with the right? They're for low taxes, strong borders, strong military, and small government staying out of our lives, what do you stand for?
Remember when Mac bought his first Grand Champion Steer at the Houston Rodeo. All the big shot bidders were being fawned over in the front rows and Mac was sitting with the regular folks in the spectator section. He outbid all the big shots for the steer.
Mattress Mac truly is a gem. This man has done so much for the city of Houston. I honestly can’t think of a person as giving as Mac. I think he actually likes giving more than winning some of the bets he makes.
Ron White on Rogan brought me here this guy is awesome
The man really gives so much to the community. The bets just made him known nationally. I wish more people knew how he helps ex cons with jobs, gives to build charter schools, uses his building for shelter during emergencies.
Why is helping criminals a good thing?
@@Toketree people want a second chance if they served their time then they should have a opportunity. Most people don't want to hire them he has and doesn't seem to regret the practice. Your not forced to work with ex cons so don't be mad they get a opportunity with someone else.
@@Toketree Maybe when you end up in jail you could ask the same question?
@@Toketree if no one helps them they're gonna have to steal and go back to behind bars again? we'd have to deal with more crimes more than you think if you use your way.
When this guy first starting putting TV ads on air in Houston, I thought he was a total chuckle head. A few years later, a co-worker who was a former furniture salesman told me how Mac got started. 2 couches, an old rented house and a dream. This is why I love Texas. Unlike other southern states where I have lived and worked, it is not who you know, it is what you know and what you do that determines your success.
Mac has always helped others. I hope it works out for him because I know he'll find a way to give some of it back to the City...
ayyy that time of the year again for all the mattress mack stories 👏
homie is a legit treasure
He has a catch phrase for every situation.. Gotta be an awesome grandpa to have.
Mattress Mack = H-town Legend 🤘🏼
Not only H-town... TEXAS IN GENERAL 🤟🏼🤟🏼
Most loved man in Houston.
There is a special place in heaven reserved for this man!
If he had ever run for mayor of Houston, he would have won it hands down against anyone!
Not only that he help his community in Texas but also help other out of state that are in desperate need of support ! ❤️ wonderful guy ! He gain his wealth and give back to the community!! ❤️❤️🍍🍍 Go Astro !!
i heard his bets are just a wager on the promotion bet thing.. he never loses even when he does
MATTRESS MACK A TEXAS LEGEND!! 🤟🏼🤟🏼
Never heard of this man and I hate the Astros, but, he is a grade A human being.
Mattress Mack is very famous
@@niels4622 aka king of whole texas
Texans won that first game I think he got confused
19-10
I was at that game. We won that game.
@@marshallwhitley82 no we didn’t
I thought we won too
He is still $2 million in total loss after his winnings. He did not actually profit anything from his win. He just lost MUCH less than he would have. This guy gives away many tens of millions of dollars in both money and furniture.
Mac is a great Houstonian. He can't tell me who to vote for BUT you give credit where it is due. No one is a saint so you give him his due.
He is Houston royalty.
I hear this fella is a great man... ironically, not for his words, but for his actions...
2:58 did he say the broncos played the Seahawks in New York for the super bowl?
Having spent 35 of my 46 years in the city of Houston, I can tell you right now that Jim McInvale is one of the better men that has ever delivered for an entire city. He doesn’t make promises, he delivers.
THE NUNS IN THE BACK ARE BETTING ALSO !!!??????, 🤦♂️🤦♂️🤦♂️🤦♂️😂😂😂😂😂😂
Great example for all for having a positive outlook in business and life in general.
An icon in the mattress industry!
Risk to reward ratio: 1 to 7
Win: Risk 10mil to make 75mil
Win: approx 10mil in furniture sales and customers are in debt. With astros lost.
So he offsets - customers are payin his bet. Very smart man!
Customers are paying for their furniture gambling that it'll be free! Everyone wins
@@hakeemolajuwon4352 it'll be free if Astros win. Speaking from a born and raised htown native. Just highlighting that Mr. Well respected Mac will Win regardless of the results, as for the customers its a risk. He's a smart businessman.
@@htown4010 How are the customers at risk? Please explain
@@hakeemolajuwon4352 The customers that are solely relying on "winning" the furniture. Those that can afford to make monthly payments on it are not at risk. That's all. I was speaking more his strategy
@@htown4010 Do you seriously think there are people that went to buy furniture that they can't afford on a gamble that the Astros would win the World Series?! OK buddy, you got me there
He deserved every penny. Good guy 😊
Gotta love Mack. I love what he said about unity because its so true. At least we can escape for a few hours and feel unified about something. THANK YOU MACK!!....from FL but Im retiring back in Houston. Houstonians...really appreciate the quality of health care there because its nonexistent if FL!
Texans never lost their first season opener against the cowboys. Maybe some other season
Living in Canada, I had never heard of Mattress Mack. He's an absolute treasure!
I happened to win my furniture from the 2017 world series win and doing it again this year!
Dude is scamming like crazy. No way he making 2 mill in sales on furniture lol
You only need to sell 700 mattresses at $3k a pop. It's not unrealistic.
@@scratchpenny no one buying a mattress for 3k lol
@@jmemixx My Tempur-Pedic mattress was $4k. Maybe not where you live, but many people buy high-quality mattresses.
He said on the news that he has to make 7000 refunds. They had to end the promotion a week early because they reached the limit.
This man is a legend god bless him for the rest of his life
He’s such a cool and unique guy.
I remember he came to my school at Dechaumes elementary when I was a lil kid and was a speaker
Love Mac. He shows love for our community and our city.
Do you agree one phrase will be remembered in the 2022 World series is --> DON'T MESS WITH MACK!! 😆
Besides the most chanted one --> WE WANT HOUSTON
This Texas legend knows how to hedged his business and sports bets with free advertising.
Phillies in 7...
If any one deserves to win a bet of this amount, its Matress Mack... He has lived a life of Giving. And now it is his turn to receive.
This is how I feel after I hit a 4-leg parlay
How was this 2 weeks ago? The game was won 3 days ago
Mack is THE MAN! What an absolute legend!
Fork over that $75 million to Mattress Mack, boys!
He’s gonna be our mayor someday.
As a Mariners fan I hate the Astros but this makes me feel slightly happy they won the series.
There is a special place in heaven for him and his family. Winning is a small amount compared to opening his store to house families and feed them all as well.
Mattress Mac forever a legend!
He deserves it because he puts it back in the city
Mack I'd family to me worked their for 10 yrs...the respect I have for him is the same respect I had for my father
so did he use the profit from the sales to make the $10,000,000 bet?? or just risking it all? They changed the title of this video after Astros won the world series lol. As a Phillies fan, I will say this is pretty awesome.
He's very rich. Gallery Furniture is one of the largest furniture stores in the nation. His promotions also increase sales. If the Astros lose then he's up all that profit from the increased sales. If the Astros win then he refunds the customers who spent $3,000 or more from the $75 million and still makes a nice profit. Remember, that $3,000 isn't what the furniture cost him. His wholesale price was far less.
New bet is on Texas!
Let's win it for mattress Mack
You don’t fxxx with Mattress Mack
He should help bring NHL to Houston
“He helps the community” look furniture is nice and all, but money runs everything. Those who support just follow for the potential to gain.
I would vote for him to be President, but he is happy where he is.
Who is here after Houston Astros are the WS champ's?
This aged well lol
H town legend🤘🏾
What an amazing man.
Is it just me or has anyone thought of the possibility that this man has a gambling problem? In my opinion he just might.
Mattress Mack is a legend!
Gambling with nuns is crazy
Legend.
"Some of them wear Seattle colors" lmao... little salty there, Mack?? Lol
Marketing king
Can I borrow the Almanac now?
He doesn’t just own a furniture store. It’s a community centre and even high school for people who want to get their high school diploma.
Mack is an absolute godsend
Hes the goat
2 Things I am perfectly fine not knowing: How to spell Ker-kin-doll correctly and how Mattress Mack saves us MONEY! It just works
My new hero 🎉
One of the weirdest things i saw was Matt from demolition ranch buying an old car that ended up being mattress macks old car.
I'm more impressed that this man sold $75M worth of beds
I'm confused. He says he did a promotion for the Texans first game ever against the Cowboys and said the Cowboys won. That is not true. The Texans won.