Texas-based businessman and self-proclaimed Houston superfan Jim "Mattress Mack" McIngvale is putting his money on the line once again. The furniture store owner has made headlines in recent years for wagering large sums of money on his favorite teams. At times, he has reaped big rewards, like his historic $75 million payout when the Astros won the 2022 World Series. McIngvale's latest bet comes shortly before the NCAA Division I men's basketball tournament tips off.
The top-ranked Cougars have been one of the best teams in the nation this season, and Houston's win over Cincinnati Tuesday was the team's sixth straight. The Cougars have three regular-season games remaining and have 7.5-to-1 odds to hoist the national championship trophy in early April, according to the latest data from Caesars Sportsbook. If the Cougars are the last team standing, McIngvale would be in line for an estimated $7.5 million payout.
Despite advancing to the Final Four six times, the Cougars have never won a national title. McIngvale routinely makes extravagant sports bets to cover promotions at his mattress stores. If the Cougars win the tournament, McIngvale's earnings will help fund the latest Gallery Furniture promotion. The promotion states that customers will receive a refund if they purchase a Tempur-Pedic mattress and adjustable base priced at $4,000 or more and Houston wins the national title.
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