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Businessman Jim 'Mattress Mack' McIngvale announced he's placed a $1 million bet on the Houston Cougars to win the NCAA men's basketball national championship via Bleacher Report Betting.
McIngvale, 73, who gets his nickname from his popular Houston based furniture store, took the Cougars at +750 odds through the Caesars Sportsbook, which would result in a $7.5 million payout. The furniture tycoon has made several viral bets on hometown teams in recent years, which included winning the largest payout in sports betting history when a $3 million futures bet on the Houston Astros at 10-1 odds won him $75 million in 2022.
"What can we say? We just wrote the biggest check in sports betting history to Mattress Mack for $30,000,000," said Ken Fuchs, chief operating officer for Caesars Digital, in a press release on behalf of the company at the time via ESPN.
McIngvale had previously bet on the Cougars to win the NCAA tournament in 2023, placing $4.05 million in commutative wagers, before top-ranked Houston was upset by the fifth-seed Miami Hurricanes in the Sweet 16. In January, McIngvale reportedly lost $500,000 on the Houston Texans' AFC Divisional Round loss to the Baltimore Ravens and $1 million on Texas in the College Football Playoff semifinals.
The Cougars are currently the No. 1 overall team in the Associated Press top 25 poll with a 24-3 overall record entering March.