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'Mattress Mack' lost his bet on the World Series but it was a big win for Las Vegas sportsbooks

Posted at 11:39 PM, Oct 30, 2019

LAS VEGAS (KTNV) — Sportsbooks in Las Vegas are celebrating after the Washington Nationals beat the Houston Astros, winning the team’s first ever World Series title.

Mega wagers by a Houston businessman meant some local sportsbooks could have been out of a ton of cash had the outcome been different.

Jim McIngvale, known affectionately as “Mattress Mack” owns Gallery Furniture in Houston, Texas. He reportedly bet as much as $12 million on his hometown team at different sportsbooks across the country.

“I'm all in for Houston. I was in Las Vegas betting more money on the Astros last night,” McIngvale told ESPN on Tuesday.

Including sportsbooks in Las Vegas.

One of them was Circa Sports at the Golden Gate. 13 Action News spoke with casino owner and developer Derek Stevens.

“I think everyone owes a tip of the cap to 'Mattress Mack,'“ said Stevens. “And the amount of publicity he got for sports wagering, and particularly for the World Series bet."

“Mattress Mack” ran a promotion at his store offering refunds on purchases of more than $3,000 if the Astros won the World Series.

He was placing bets because he couldn't get an insurance policy to cover his potential losses. A win for “Mattress Mack” could have meant hug losses for Circa and other local sportsbooks.

But with the Nationals upsetting the Astros, Stevens said the outcome was better for locals.

“Really what it did was increased the volume of wagering on this year’s playoff and this year's World Series," said Stevens. “So at the end of the day we needed Washington to win. So, we did OK."

Stevens said this was a rare occasion where one man's business idea made an impact on an entire industry.

"He's a heck of a good promoter and I think he sold more mattresses because of this promotion and we all ended up being a part of it!”