Mattress Mack, the owner of Gallery Furniture, is a popular and well-known figure in the Houston area. Yesterday, he walked into the Scarlet Pearl Casino Resort in Biloxi, Mississippi, with a briefcase holding $3.5 million dollars in cash and plopped it down on the Astros to win the World Series.
The multi-million dollar risk is essentially a hedge bet against an offer he made earlier this year. McIngvale promised to refund customers their money on purchases of $3,000 or more on bedding furniture from his stores. He has made similar offers in the past and lost an estimated $13 million in refunds paid out when the Astros won the World Series in 2017.