Jim "Mattress Mack" McIngvale Loses $2 Million Betting Against Kansas City ChiefsHouston Area Furniture Mogul Places $1 Million Against The Kansas City Chiefs In Each Of Their Playoff Victories |
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Jim ‘Mattress Mack’ McIngvale made headlines last October for losing $13 million betting on the Houston Astros to win the World Series.
At the time, those bets were a hedge against a promotion he was running at his Houston-area furniture stores. But after the last two rounds of the NFL playoffs, it looks like he enjoys sports betting regardless of his stores’ promotions.
Over the last two weeks, McIngvale lost another $2 million betting against the Kansas City Chiefs, according to a report from the Las Vegas Review-Journal.
During the AFC divisional playoff round, McIngvale bet $1 million on the Houston Texans to beat the Chiefs. The Texans raced out to a 24-0 lead, but Kansas City scored 41 unanswered points to defeat the 51-31 and put McIngvale in a seven-figure hole.
That didn’t deter him from placing two separate $500,000 bets the following week when the Chiefs squared off against the Tennessee Titans in the AFC Championship game. McIngvale placed one of those bets at the Scarlet Pearl sportsbook in D’Iberville, Mississippi and another at the Bet MGM sportsbook at the Beau Rivage in Biloxi, Miss.
Both bets were placed on the +300 money-line. If the Titans defeated the Chiefs, McIngvale would walk away with $3 million in cash and $1 million in profit from his loss the week prior.
Just like the week before, the Chiefs dug themselves into an early hole as the Titans got out to an early 17-7 lead. The Chiefs ended up winning 35-24, securing a spot in the Super Bowl and costing McIngvale $2 million.
“I thought I had a good money-line price on both,” McIngvale told the LVRJ. “They both got off to good starts, but fizzled.”
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