HOUSTON (KIAH) — March Madness is here, and that means it’s time to ask, “How much money does Jim ‘Mattress Mack’ McIngvale have riding on the NCAA Tournament this year?”
Well, he has about $3.5 million riding on his hometown team, the University of Houston Cougars, to win the national championship in front of a very supportive home crowd at NRG Stadium.
Top-seeded Houston shook off Northern Kentucky Thursday night for a 63-52 victory in its first-round game. All-American Marcus Sasser watched from the bench after re-aggravating a groin injury he suffered in the American Athletic Conference Tournament.
As usual, McIngvale has promised to share his winnings with his customers at his furniture stores in Houston. Customers who buy at least $3,000 in merchandise from his store by a certain date will get it for free if the Cougars go through the NCAA Tournament and win the national championship game on April 3.
Personally, Mattress Mack can win up to $35 million if Houston wins the national title. He made his $1 million bets at three sportsbooks, including one at Caesars Sportsbook at the Horseshoe Casino in Lake Charles, Louisiana.
McIngvale also made $500,000 bets at BetMGM and Barstool Sportsbook.
Since McIngvale won a record $75 million when the Houston Astros won the World Series last year, he has suffered betting losses of about $7 million, losing bets on the Dallas Cowboys in the NFL playoffs and the TCU Horned Frogs in the College Football Playoff National Championship Game.
Mattress Mack has had past success with the NCAA Tournament, winning last year with Kansas over North Carolina.
