Kansas
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Kansas getting beat upComment -
He is genuinely nice guy who made a LOT of people very happy today. Whoever bought stuff from his furniture store, they get a full refund if they bought $3,000+ worth of furniture from him on his promo. How can you possibly beat that?
Houston furniture store owner Jim “Mattress Mack” McIngvale wagered a total of $5.5 million to win $10.4 million on Kansas to win it all at +190 before the Final Four.
McIngvale made a $3.3 million bet to win $6.2 million at Caesars Sportsbook and he placed a $2.2 million bet to win $4.2 million at Barstool Sportsbook. Both wagers were placed in Louisiana late this week.
The bets are the latest in a series of hedge bets by Mack to reduce risk on promotions at his Gallery Furniture stores.
His current promotion guaranteed customers who bought $3,000 or more of furniture their money back if a Texas team won it all. That’s not going to happen. But the promo also featured an added wrinkle that if a Texas team didn’t make the Final Four, customers would get the team that’s located closest to Mack’s store in Houston.
That team was Kansas, which beat Villanova 81-65 on Saturday to advance to Monday’s national title game. If the Jayhawks beat North Carolina to win it all, customers will get their money back and Mack will win more than $10 million.
“It’s going to make a lot of customers happy if they win Monday night,” Mack said.Comment -
NiceComment -
The hedger wins either way
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