Sports betting: Chiefs fans should be thrilled with $1 million Super Bowl wager by ‘Mattress Mack’
The Houston businessman put $1 million on San Fran, which he again is hedging with a promotion. Given his track record, Kansas City fans are giddy.
Money might not be able to buy you love, but it can buy you better odds.
Mattress Mack, the Houston furniture dealer who throws money around by the millions during big sporting events, was back in Vegas this week trying to put some heavy coin on the Super Bowl. He was looking at the 49ers’ money line, but had one demand: He wanted +120 odds.
While most places were offering +105 or maybe +110-ish, Todd Dewey of the Las Vegas Review-Journal reported that MGM property The Mirage stepped in and took the Mattress King’s $1 million play. It will owe him $1.2 million if San Fran wins. The difference between +105 and +120 is an extra $150,000.
It’s a nice little bonus, but one that surely drives nuts professional bettors who often are limited by sportsbooks simply because of their acumen.
Mack placed two separate bets of $500K each.
If the 49ers lose, which gamblers are certain will happen, given that Mattress Mack reportedly lost $13 million in bets when his Houston Asterisks were beaten by Washington in the World Series, then he’ll be out $1 million.
Except he’s not.
Mack, whose name is Jim McIngvale, hedges his bets by running free or discounted furniture promotions aligned with his bet.
In this case, customers get refunds on half their purchase if the 49ers win and they spend at least $3,000 for bedding. If Kansas City wins, he loses his Vegas bet, but his customers pay in full.
“I’m just a huckster. I’m a promoter,” he told CNN during the World Series. “I wake up every day with a new idea. God knows what I’m going to do next, but it’s going to be fun for the customers. That’s the whole idea.”
Mack reportedly had $2 mil on the Titans (the former Houston Oilers) in the AFC Championship game and lost that, too.
“I don’t think Mack’s prior big bet losses factor into MGM’s decision to take the wager,” sports betting expert Jack Andrews said. “I think they gave Mack what is essentially a no-vig wager on SF +120 because they know the betting public will likely be heavy on KC and because they’ll make up the vig they lost via free advertisement from taking the biggest wager on the game.”
MGM’s 49ers’ line of +120 was up for about 10 minutes Wednesday night. It dropped to +115 for two hours, and then +110 for 45 minutes before moving back to +105.
This and that
♦ FanDuel said this week that 53% of the coin-toss bets it was taking were on tails.
♦ Longest odds for each team to win the Super Bowl at William Hill: San Francisco was 40-1 on Aug. 12; Kansas City was 15-1 on Oct. 29, shortly after Patrick Mahomes injured his knee.
♦ William Hill has the Eagles at 15-1 to win next season’s Super Bowl. Vegas’s Westgate is offering 20-1.
♦ FanDuel in New Jersey took $100,000 on the 49ers’ money line. It’s also on the hook for a Niners Super Bowl future bet at 11-1 odds for a $127K payout.
♦ William Hill took an $8,000 bet on the Chiefs at 14-1, which puts them on the hook for $112K. It also has a $3,000 preseason bet on the Niners at 30-1, which is worth 90 grand.
♦ Let’s not forget those futures bets on the Saints, Patriots, Eagles — and anybody else not in Miami this week. The house already has won those.
♦ The Phillies’ win total on PointsBet is 85.5 (over is -118, under -105). The Fightins’ are 20-1 to win the World Series.