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Houston furniture mogul Jim McIngvale, also known as "Mattress Mack", managed to lose $9.5 Million on Super Bowl bets taken at Caesars Sportsbook. That company confirmed to Gambling911.com they had indeed taken the record setting bets from McIngvale.
His bets were on the Bengals to win outright, which they did not. Cincinnati did cover against the 4-point spread, but "Mattress Mack" had his wagers on the moneyline.
Had he won, the profit would have been $16.15 million.
“I figure it’s more of a toss-up,” McIngvale told ESPN earlier this week about his rationale for betting on the underdogs to win outright. “It could come down to a final field goal, like a lot of these exciting playoff games.”
McIngvale placed the bets in neighboring Louisiana. That state recently amended its laws to allow mobile sports betting in all but a handful of parishes. Texas still prohibits the activity and plans to continue outlawing it for the foreseeable future.
- Don Shapiro, Gambling911.com
