Largest Super Bowl Bet
Businessman and owner of the retail chain Gallery Furniture Jim McIngvale is doing a lot more than selling furniture this week. McIngvale, commonly known as “Mattress Mack,” recently placed a $5 million bet with Caesar’s Sportsbook for the Cincinnati Bengals to beat the Los Angeles Rams in Super Bowl LVI this weekend. This is the largest single wager that any legal sportsbook has ever taken in history. The previous single bet record ever taken by a sportsbook was set in the 2002 Super Bowl and it was $4.9 million on the -900 then St. Louis Rams to beat the New England Patriots, which they did not. That Patriots win gave Tom Brady his first Super Bowl ring.
The second highest bet that Caesar’s Sportsbook has ever taken is a moneyline bet that came in last week at $4.5 million on the Bengals to beat the Rams. The bettor? Mattress Mack. He has a combined $9.5 million on Joe Burrow and the Bengals who are currently pegged as the underdog in this game at +170. If the Bengals do win, Mattress Mack walks away with $16.2 million.
Mattress Mack Betting History
He is no stranger to the life of making multi-million dollar sports bets. During the 2021 MLB season, he bet around $17 million over several different bets on the Houston Astros. In one particular bet, he lost $3.25 million. He made up for it later when he bet $3.46 million on Tom Brady and Tampa Bay and walked away with $4 million. He also bet on the Alabama Crimson Tide to win the college football championship this past January, which of course they didn’t, and it cost him a cool $6 million.
Mattress Mack, a Texas native, crossed the border into Louisiana to place both of these bets, legally. The decision to make the second, larger bet came after he sold through the profit of his first bet in just a week at Gallery Furniture. If the four-point underdogs do take home the Lombardi trophy, McIngvale will refund any customer who makes a purchase of $3,000 or more at his store. This promotion, he said, helps to draw more customers to his Houston-based retail store and cover the costs of the promotion if the Bengals do win and he gets $16.2 million.
So what are the chances that he walks away with all this? Well, favored teams in the Super Bowl have a 35-20 record straight up and a 27-8 record of covering in their win as the favorite. But, hope isn’t lost for the underdogs. Since 2002, underdogs are 12-7 against the spread in the Super Bowl, and four-point or more underdogs are 3-0 total and 3-0 against the spread in the Super Bowl since 2010. Will the Bengals make it 4?
The public seems to think so. At DraftKings, 65% of moneyline bettors for Super Bowl LVI, have Joe Burrow and the Bengals pulling off the upset. 62.2% of users that bet on the spread think that the Bengals will at the very least, cover the four point spread.