Mattress Mack Brought Louisiana Mobile Sports Betting Revenue Down
The latest chapter in the Mattress Mack leather was written as the furniture magnate won $75 million from betting and single-handedly reduced Louisiana’s mobile sports betting revenue. While Mack’s victory is old news by now, the profound effect his spectacular victory had on the industry was only becoming apparent.
Matras Mack made history with a recent bet
Jim McIngvale, also known as Mattress Mack, is the owner of Gallery Furniture. He is an avid bettor, known for making insane bets, which he often uses to provide his clients with generous promotions.
In November, the Houston Astros did what many doubted they could – win the World Series. For McIngvale, who bet $10 million on the team, this victory became a $75 million payday. The businessman placed bets at several sportsbooks, including Caesars, Betfred and Unibet. His biggest bet was with Caesars, where he bet $3 million.
At the time, Caesars Digital COO Ken Fuchs said:
What can we say? We just wrote the largest check in sports betting history to Mattress Mack for $30,000,000.
Ken Fuchs, COO, Caesars Digital
McIngvale’s bet with Betfred, on the other hand, paid the sports betting operator $5 million, the most it has ever paid out to a customer. With this data in mind, perhaps it’s not so surprising that Mack single-handedly influenced the industry’s revenue for the month.
Mack single-handedly drove down mobile betting revenue
Louisiana reported that mobile sports betting revenue fell a whopping 206% in November compared to October. Translated into dollars, the state’s revenue saw a decline of more than $27 million month-on-month. If Mattress Mack had incorrectly predicted the outcome of the World Series, mobile sports betting revenue in the state would have been $47.4 million.
Meanwhile, Louisiana Illuminator reported that the Pelican State’s sports betting industry contributed more than $6 million to local taxes in November. This is the highest amount sports betting has ever contributed since its legalization in Louisiana, the outlet noted.
Meanwhile, Mattress Mack seems to have no intention of stopping its sports betting. A few days after making history with his big payday, the furniture magnate was at it again with a $50,000 bet on the Houston Cougars. This bet’s outcome is still unknown as the finals of the basketball championship are scheduled for next year. They will take place in Houston, McIngvale’s hometown, which the businessman believes is a good sign.