Mattress Mack, aka James Franklin McIngvale, is a famous bettor and retailer. Mattress Mack is notorious for his massive wagers, especially on games involving the Houston Astros.
If the Astros win, he’ll refund customers’ payments on recently acquired mattresses at his stores, among other bets. After that, he heavily wagers on the Astros to recoup the campaign’s initial investment.
Transitioning Into the Role of Mattress Mack
Starkville, Mississippi is the place where Jim McIngvale entered the world in February 1951.
With only $5,000 in savings, Jim opened Gallery Furniture out of the back of his pickup truck in 1981. A steady increase in foot traffic and revenue was the norm in the first several months and years. However, when the oil economy collapsed, so did nearly all Texas retailers.
Jim used his remaining ten thousand dollars to buy many advertisement spots on local television in 1983. While the cameras were running on the set of one of those commercials, he lost his cool and started pulling cash out of his pockets, exclaiming, “Gallery Furniture saves you money!” He would later use the line as his signature catchphrase because it was so well received by the public.
Although it started out making cheap, mass-market furniture, the company has since expanded into more upscale collections.
How Much Money Does Jim Mc Ingvale Make?
According to CelebrityNetWorth, McIngvale has a $300 million fortune. In the lead-up to the 2021 World Series, which pitted Mattress Mack’s Astros against the Braves, he placed wagers totaling $3.45 million across 12 different bookmakers.
If the wager is won, the winner will get a record-breaking $35.6 million, nearly $22 million of which will come from the Caesars SportsBook in Las Vegas. He determined that $22 million was necessary to cover the expenses of his mattress advertisement.
A $3.25 million gamble on the 2021 World Series champion Houston Astros resulted in a $35.6 million payoff loss, according to CBS Sports.
He gambled in 2017 that the Astros would win the World Series and gave discounts to customers who spent more than $3,000. ESPN reports that he made good on a promise to give back $10 million to customers if his team ever won.
In 2022, he made headlines for making the largest legal sports wager ever—$5 million—on the Cincinnati Bengals, as reported by CBS Sports. After the initial $4.5 million bet, his total wager was $9.5 million. The Bengals’ loss in Super Bowl LVI cost McIngvale an estimated $16.5 million.
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I Don’t See how Mattress Mack Has Amassed Such a Fortune.
My good friend and legendary Houston sports columnist @McClain_on_NFL has just written a fantastic column looking ahead to potential changes for the @astros in 2023. You can read it exclusively at my Texas sports website @GallerySports.https://t.co/bUUntKcYCx
— @MattressMack (@MattressMack) November 8, 2022
Most Texans born in the last 40 years know the name of the Mississippian who became famous in Houston by dressing as a mattress and promoting his business in cheap TV advertising.
Since then, Gallery Furniture’s popularity has surged, and it has become the place where many people go to buy furniture for their homes. In recent years, the now-Texan owner and operator reportedly brought in over $2 million per month.
It appears that McIngvale was the driving force behind this success.
Success
Gallery Furniture has grown to become one of the most successful specialty furniture stores in America. At different points in time, its stores have had the highest sales-per-square-foot of any retail establishment in the United States. Annual sales are reportedly $200 million, as reported in 2005. According to a report from 2015, annual sales are somewhere in the region of $150 million.
Super Bowl 2022 Predictions
As of early February 2022, it was known that Mattress Mack had wagered $4.5 million on the Cincinnati Bengals’ victory against the Los Angeles Rams in Super Bowl LVI. His bet was the largest one ever made via a mobile device, and it was put through the Caesars Sports Book app. He had to load the bet in increments of $20,000 to satisfy the app’s per-wage criteria. He stood to earn $7.7 million, a substantial sum at the time, should the Bengals triumph. Customers who spent more than $3,000 on bedroom sets and living room furnishings were eligible for a return program.
On February 11th, Mattress Mack doubled his bet by wagering $5 million on the Bengals. The amount was the largest ever legally wagered on a single sporting event. He stands to earn $16.2 million should the Bengals triumph (the total of both wagers).
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Mattress Mack’s Private Life
Mack Mattress and his wife, Linda Mclngvale, have raised four children together. In addition, he is the proud grandparent to six.
His favorite leisure activity is football. In addition, he is a staunch Democrat supporter who has helped get some of his party’s candidates into office. He recently made headlines after losing roughly $4.7 million on a football wager.
Conclusion
Mattress Mack, aka American businessman Jim McIngvale, is worth an estimated $300 million. He is well-known in the Houston area as the owner and manager of the Gallery Furniture chain of businesses.
Gallery Furniture is one of the most successful independent furniture stores in the country. On occasion, its US locations have had more sales per square foot than any others in the country.