Best of betting in 2022, the year Mattress Mack won $75M on the World Series

The wildest sports betting story in 2022, and there are dozens of contenders, had plenty of Philadelphia flavor. Baseball, F-bombs, and an intense argument is a recipe handed down from generation to generation around here.

The country’s most famous sports bettor now shakes off the confrontation he had with Phillies fans during the World Series. But after Game 3, his engine was running hot. Profanities were flying and the spit nearly hit the fan when Jim “Mattress Mack” McIngvale heard his beloved Astros being called a bunch of cheaters by Phillies fans. But it was Mack who had the last lucrative laugh.

The Phillies had just taken a two-games-to-one series lead and their fans were feeling good. Too good, it turned out. Mack and the record money he stood to win on Houston was in jeopardy. But then the Astros pitched a no-hitter in Game 4 and won the World Series a few days later. Profanities turned to effusive praise.

McIngvale in 2022 went from a colorful Texas furniture salesman and wild bettor to a serious threat to sportsbooks after collecting the largest payout on legal sports betting in U.S. history. He turned $10 million in wagers at several sportsbooks at various odds into a $75 million payout when the Astros beat the Phillies. MGM gave him a wheelbarrow to carry out his cash.

“The majority of Phillies fans were cool,” he told The Inquirer earlier this week. “There were a few of them I got into it with, but that turned out to be the biggest brand-builder I’ve ever done because I was [defending] the Houston players. I said [to my traveling party], ‘Boys, don’t worry about it. It will all work out.’ My one daughter said it was the best thing I’ve ever done. My other daughter, who is a psychiatrist, was horrified. But it turned out OK.”

Caesars alone paid Mack $30 mil.

Mack has a handful of furniture stores in the Greater Houston area and he uses his sports bets to offer discounts and even refunds to customers. The promotions continued throughout the postseason, and he said he had to stop running sales after the Astros clinched the American League pennant on Oct. 23.

“We gave back every dime of [the $75 million], but it was the greatest brand-building exercise ever for us,” he said. “I would do it again in a New York minute.”

The World Series notwithstanding, Mack took some lumps in 2022. He dropped $6 million on Alabama in last season’s football national championship and $9.5 million when the Bengals lost to the Rams in the Super Bowl. He won $12 million when Kansas claimed the men’s national title in April, and lost $2.6 million a month later when Epicenter finished second in one of the greatest upsets in Kentucky Derby history.

It was another interesting year in sports betting, especially for those lucky enough to stay out of the red.

FanDuel nearly got stung for millions on a single-game parlay it offered for the Buccaneers-Eagles playoff game last January. The proposition was for Tampa Bay to cover a 2.5-point spread (it did, check), Rob Gronkowski to score a touchdown (he did, check), Mike Evans to score (so did he, check) and Scott Miller to have over 8.5 receiving yards (uncheck). Miller caught one pass for 8 yards. One more yard and FanDuel would have had to pay out around $10 million because so many of its customers were on it, according to Darren Rovell of the Action Network. Adding to the pain for bettors was that Miller had one rushing attempt. It went for 9 yards.

Rex Beyers, head of wagering at PlayUp USA, offered this bit of wisdom in early May.

“Here’s how baseball works,” he said. “The Dodgers, who are going to win 100 games, [just] lost two out of three in Pittsburgh to the Pirates, who are going to lose 100 games.

“If you can’t be OK with that as a bettor, then you need to stop [playing] baseball.”

Indeed, L.A. went 111-51 in 2022. Pittsburgh went 62-100.

Tom Brady’s decision in March to change his mind and return for a 23rd season reverberated at the sports-betting windows.

The Buccaneers were as high as 50-1 to win this year’s Super Bowl based largely on the fact that they would be without Brady, who announced he would retire on Feb. 1.

A few days before Brady unretired on March 13, some sportsbooks saw aggressive wagers on the Buccaneers to win the championship. The South Point in Las Vegas took undisclosed plays on Tampa Bay at 50-1 then 30-1 then 25-1.

No proof ever emerged of anything sinister, but sportsbooks don’t like coincidences.

The Buccaneers settled in at around 8-1 to start the season. They have been maddeningly mediocre this season and are back up to around 30-1 and could either win their division or miss the playoffs entirely.

Wide receiver Calvin Ridley was traded by Atlanta to Jacksonville despite being on the NFL’s suspended list for wagering on games in 2021 while he was away from his team on a self-imposed furlough. Ridley can apply for reinstatement on Feb. 15. His $11.1 million salary that he would have earned in 2022 would be pushed back to 2023 and would be the Jaguars’ responsibility.

Jets assistant coach Miles Austin, who ended his playing career with the Eagles in 2015, also was suspended for violating the NFL’s gambling policy. Unlike unionized players, who are prohibited from betting just on NFL games, coaches and other NFL personnel are forbidden to bet on all sports. It’s unclear the nature of Austin’s infraction.

Worth noting that New Jersey, where the Jets practice and play, reported $1.1 billion in sports wagers for the month of November.

June’s NBA draft was a boon for many sharp bettors, especially those who were on Duke’s Paolo Banchero to go No. 1 overall. It was nothing but a headache for the bookies, however. Even ESPN crackerjack reporter Adrian Wojnarowski bricked it.

“Jabari Smith [from Auburn] was the favorite originally with Banchero as high as 20-1 in some places in the months leading up to it,” explained Tom Gable, head of the sportsbook at the Borgata in Atlantic City. “[Gonzaga’s Chet] Holmgren had the second shortest odds to go No. 1.

“I opened it on Monday of draft week with Banchero at 9-1. First four bets we took were all on Banchero as soon as we opened the market. Moved to 7-1. Took a limit bet at 7-1 from someone who I know has good information and gets it earlier than most. By the end of Monday, [Banchero] was down to 2-1.

“By Wednesday night, Banchero was the favorite despite Woj reporting that Smith was going to go No. 1. It was one of the few times that Woj was wrong, but once again the betting market got it right.”

Gable said he thinks those who had Banchero fell into one of three categories:

1) Those betting Sunday night/Monday strictly on price.

2) A small group who had very good info.

3) Steam chasers.

There’s still nothing more frustrating for professional bettors than being restricted or even prohibited by U.S. sportsbooks not willing to book their action. Recreational bettors can bet all the nine-team parlays they want, but a pro might not be able to get down more than $100 on an A.J. Brown receiving prop.

“Limiting is and continues to be a big problem in the industry,” Jeffrey Benson, operations manager for Circa, wrote on Twitter. “As an operator, you should be transparent with your players about what limits they can get at ALL times on ALL markets. And if you stake-factor them to death, then you shouldn’t be in this business.”

There was some controversy at the July 4 hot dog eating contest, which is just another sign that we actually are, you know, in hell.

Joey Chestnut won his 15th championship after inhaling 63 hot dogs and buns in 10 minutes. But he was bumped by a protester and never got near his over/under total, much to the chagrin of some bookies, including one in New Jersey.

Jeff Sherman, manager for SuperBook, had the quote of the year when sizing up the contest: “We had some sharp play on under 74.5″ hot dogs, he told The Inquirer.