Businessman Jim “Mattress Mack” McIngvale does not shy away from putting his money where his mouth is — especially when it comes to sports teams that play in Texas.
A few days before the Texas Longhorns and Washington Huskies played in the Sugar Bowl, the well-known furniture salesman decided to place a $1 million wager on the Longhorns to win the national championship. McIngvale, who is also an avid supporter of the Astros, was also likely incentivized by the idea that Texas could compete for the national title inside NRG Stadium in Houston.
“On Friday night, I drove to Louisiana to bet on my phone,” McIngvale told FOX Sports. “I have an enormous passion for UT football.”
Texas was seeking to advance to its first football championship game since the 2009 season. Quarterback Vince Young led the 2005 Longhorns to victory in the BCS National Championship.
The Huskies managed to survive Texas’ final drive to secure a thrilling 31-37 win in Monday night’s College Football Playoff semifinal game in New Orleans.
If Texas pulled off a comeback in the Sugar Bowl, McIngvale’s $1 million bet at +270 odds at Caesars Sportsbook would have resulted in a hefty $2.7 million profit. If the Longhorns went on to win next week’s championship game, he would have received a total estimated payout of $3.7 million.
According to sports betting company, The Action Network, McIngvale has lost approximately $10.25 million in sports wagers in the past three years.
The furniture store magnate previously placed a significant bet on Alabama to knock off Georgia in the 2022 national title game. But, the Crimson Tide ultimately suffered a 33-18 loss. The Bulldogs claimed their first national championship in more than four decades, costing McIngvale more than $6 million in losses.
Despite Georgia being the odds on favorite in the 2023 national championship game against TCU, McIngvale had $3.1 million riding on an upset. Georgia went on to blow out TCU en route to a second consecutive championship.
Washington entered the Rose Bowl as four-point underdogs.
McIngvale has enjoyed some massive wins during his highly-publicized sports betting career. The Astros defeated the Philadelphia Phillies in the 2022 World Series, which allowed McIngvale to collect an unprecedented $75 million in winnings.
Michael Penix Jr.’s remarkable comeback story continued on Monday. The star quarterback finished the game with 430 passing yards and two touchdowns. The sixth-year signal caller recovered from multiple injuries over his career, including two devastating knee injuries.
Washington will play its final game as a member of the waning Pac-12 Conference in the College Football Playoff National Championship game against Michigan on Jan. 8.
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