The owner of a Houston mattress store is looking to protect his business on a refund promotion by making sizable hedge bets.
According to ESPN's Dave Purdum, Gallery Furniture owner Jim "Mattress Mack" McIngvale is offering customers a refund on purchases of mattresses worth $3,000 or more if the Houston Astros win the World Series.
Purdum noted Mattress Mack is looking to make $10 million in bets, which would lead to $20 million in winnings, to help cover potential losses.
"I've placed hedge bets [on the Astros] at certain places, with still a few more to go," McIngvale said.