Mattress Mack Suffers $3 Million Loss in College Football Final

Not his day.

Jim "Mattress Mack" McIngvale, a well-known businessman and high-rolling sports bettor, has lost more than $3 million betting on college football. The owner of a Texas-based furniture retailer bet on Texas Christian University (TCU) to defeat the Georgia Bulldogs in the College Football Championship Game on Monday.

Bulldogs won the match 65-7 in the end.

Georgia entered the contest as the overwhelming favorite to defeat the Horned Frogs. In a rout, the Bulldogs won the game 65-7 in the final minutes.

Mattress Mack divided up his multi-million dollar bet among several bookmakers, including WynnBET, DraftKings, and Caesars Sportsbook. Mattress Mack even participated in a Twitter hype video to promote his massive wagers:

A PURPLE LAMBO USED BY MATTRESS MACK TO DROPP A HYPE TAPE FOR HIS $3,000,000 TCU NATIONAL CHAMPIONSHIP BET

pic.twitter.com/X3BJgeOfA2 — br betting (@br betting) (w/ @gallerysports @MattressMack) 5. January 2023

Mack, who was hedging his bets, staked around $1 million on TCU to win the match with a handicap of 13 points. The remaining funds were used to support TCU on the moneyline. If every wager won, McIngvale would have made roughly $8 million in profit.

Mack intended to offset any potential losses from the TCU wagers with a promotion at his furniture store, as is customary with his large bets. If TCU won the big game, every client who purchased a qualifying mattress set valued at least $3,000 during the offer period would receive a double refund.

The TCU Horned Frogs, who pulled off a number of upsets en route to winning the Big-12 Championship Game and the Fiesta Bowl, were one of college football's biggest surprises this past season.

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Mattress Mack likes to wager on high-profile sporting events, usually on a team from Texas. His biggest payday came from a wager on the Houston Astros to win the MLB World Series last year, which netted him a record-breaking $75 million. His different wagers totaled $10 million, with odds averaging 750.

Super Bowl losses came to $9.5 million.

He seemed to lose more wagers than he earned in 2022, including $9.5 million in Super Bowl losses. He has already made several seven-figure bets on the Houston Cougars college basketball club winning this year's NCAA Championship, so he is already anticipating the upcoming year.