So I guess this means that Mattress Mack is 5 million dollars lighter
- Thread starter BoDawg.sixpack
- Start date
He actually bet a total of 9.5M. Net worth estimated $300M.
But he probably broke even at worst on the Super Bowl bets.
But he probably broke even at worst on the Super Bowl bets.
Ah, I thought he had taken the Bengals to win outright. Well then.
This is saying he lost:
https://nypost.com/2022/02/13/mattress-mack-loses-9-5-million-on-super-bowl-2022-bets/
This is saying he lost:
https://nypost.com/2022/02/13/mattress-mack-loses-9-5-million-on-super-bowl-2022-bets/
Guess so. Oh well, I’d love to understand his taxes on this. He clearly spent $9.5 million on advertising. Can you legally expense gambling losses as advertising costs for a privately owned company?
If I heard right, he hedged his bet by running a promo of free furniture if the Bengals won if you spent over $3000 in his store. I would think that will offset some of his loss if he had a lot of folks take that offer.
If 1900 people spent $5000, he would’ve returned $9,500,000 to them. I wonder how much furniture sales equal to $9.5 mill in profit? Houston is a big town, I’m going out on a limb and saying Mac knows what he’s doing. I’m guessing that’s why he made multiple bets. When ever he had so much money on the line for giveaways, he placed a corresponding bet. Plus think of all the comped buffets he’s gonna get.
Did you know he was born in Starkville? Maybe we should reach out and see if he wants to set up an NIL deal.***
And as I type the *** I think to myself, maybe he loathes A&M and setting up an NIL deal could help persuade some guys to come here instead of A&M. He might like that idea.
And as I type the *** I think to myself, maybe he loathes A&M and setting up an NIL deal could help persuade some guys to come here instead of A&M. He might like that idea.
Fun fact, a group of friends and I did an Airbnb on Lake Travis is Austin and spent a lot of time boating to the restaurants around the lake and taking in the incredible displays of wealth surrounding the place. Saw one house that seemed to be 1/4mi long and looked to be easily the largest on the lake. Searched ownership. McIngvale. Obviously just his lake house. Think I remember it being around 30,000 square feet.
True, but the real money is in their financing. Plenty of people buy stuff they can't afford and pay it off forever at high interest rates.
Does he ever win these big bets? It seems like every year he's in the news having lost another one. People should wait for his bet and then go the other way.
His bets are to offset potential losses on promos he runs at the stores. He does this for every big sporting event; especially if Houston teams are involved. He typically sizes these things to break even regardless of the outcome.
The stores see a massive increase in volume and if the game goes the “right” way, a lot of families get a lot of “free” furniture which only gives him even more goodwill in the community and sets up future sales.
The stores see a massive increase in volume and if the game goes the “right” way, a lot of families get a lot of “free” furniture which only gives him even more goodwill in the community and sets up future sales.
I do believe he gives his winnings to customers. It is a promotion thing. Apparently he always either wins big or breaks even. If he wins his customers get rebates and free stuff. Dude is worth a lot of money.
The guy is a genius marketer, whatever he is doing with the bet, I can just about guarantee he is making money. His store is like nothing I have ever seen with the amount of people in there buying furniture every weekend. At one point in time his original store did twice as much per sq foot as the next best furniture store (of reported numbers).
I talked to him about 2 years back
stopped in his store to look for a couch.
He was upfront, told him i went to Starkville High/MSU and that i heard he was born in StarkVegas. He smiled and raved about the Mississippi casinos and how they take big bets etc.
I believe he went to Texas tho his dad was a Bulldog. He said he was related to the McIngvales of Starkville's McIngvale Electric.
the man is legend here in Houston for his charitable activities and has been a fixture on tv for 40+ years with his Gallery Furniture commercials.......
But damn he likes to mix gambling with his business promotions!
stopped in his store to look for a couch.
He was upfront, told him i went to Starkville High/MSU and that i heard he was born in StarkVegas. He smiled and raved about the Mississippi casinos and how they take big bets etc.
I believe he went to Texas tho his dad was a Bulldog. He said he was related to the McIngvales of Starkville's McIngvale Electric.
the man is legend here in Houston for his charitable activities and has been a fixture on tv for 40+ years with his Gallery Furniture commercials.......
But damn he likes to mix gambling with his business promotions!
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