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Houston Mattress Magnate Loses Millions on Astros World Series Defeat

Credit: Wibbitz Top Stories
Published on October 31, 2019 - Duration: 01:21s

Houston Mattress Magnate Loses Millions on Astros World Series Defeat

Houston Mattress Magnate Loses Millions on Astros World Series Defeat.

Betting tickets on the fall classic have led to big losses for Jim "Mattress Mack" McIngvale.

The 68-year-old tells 'USA Today' that he may lose up to $14 million after the Astros fell in Game 7.

The bets made by McIngvale were up against a refund special he offered to customers if the Astros had won.

The refunds in the promotion would have been worth up to $3,000.

McIngvale is the owner of retail chain Gallery Furniture.

The businessman is a well-known fixture in the Houston community.

During recent floods that struck the city, he opened his stores to provide shelter and food.

McIngvale adds to 'USA Today' that he has no regrets over the betting losses.

It just lets (Houston) know that I’m on their side and on the Astros side.

I’m part of the community.

Whatever I can do to support this community that’s done so much for us for the past 40 years, Jim "Mattress Mack" McIngvale, via 'USA Today'

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