Mattress Mack bet 1.5 million on epicenter, got 2nd

[ThaWoj]

This guy loves blowing money more than I do. Pretty sick to lose to one of the biggest long shots ever right at the shadow of the wire.

Dumbest ish ever to bet 1.5 mil on a horse in a 20 horse field and this was about the only time because of pool size that he wouldn't completely destroy his own mutual doing so

[Chi_archie]

so now he doesn't have to give away free furniture

people will never get the hedging/marketing side of Mack apparently

[ttwarrior1]

who cares what rich people bet, still rich with a win or loss

[johnnyvegas13]

What was the long shot every e real in hg about???

[jjgold]

Exactly

so now he doesn't have to give away free furniture

people will never get the hedging/marketing side of Mack apparently

[goduke]

I'm more surprised that he sells that much furniture. I know these promotions are hedges but he must be crushing sales

[d2bets]

Does he have his business place the wager? Is that a business transaction?

Otherwise, he can't deduct the losses against his profit.

Would that be allowed because it's a hedge against his promotion? He must keep his accountants busy.

[SamsNCharge99]

Tough loss

[Otters27]

Might here about this guy going broke one day.

God showed him who's boss today

[Chi_archie]

I'm more surprised that he sells that much furniture. I know these promotions are hedges but he must be crushing sales

prettty good look at it

https://www.forbes.com/sites/willyakowicz/2022/04/06/mattress-mack-jim-mcingvale-sports-bets-march-madness-super-bowl/?sh=24d29bd05264

the March Madness Promotion he sold about 12.9 million worth of furniture

yearly he did 240 million total in 2021


but the biggest win might be all the free publicity

[Chi_archie]

The economics of McIngvale’s strategy has mostly paid off. During his March Madness promotion he bet a total of $9.86 million across four bets and won $13.5 million. (Mack’s bets were a $1 million futures bet on the East bracket to win $1.7 million, the only bet he lost, then $2.25 million on Kansas at +190 to win $6.5 million; $3.31 million on Kansas at +190 to win $6.3 million; and $3.3 million on Kansas at –200 to win $1.7 million.) Gallery sold a total of $12.9 million worth of furniture during the promotion, so once he refunds all of his customers, which he will do on April 24 during a big party in his store, he’ll have more than a $500,000 profit.

[d2bets]

The economics of McIngvale’s strategy has mostly paid off. During his March Madness promotion he bet a total of $9.86 million across four bets and won $13.5 million. (Mack’s bets were a $1 million futures bet on the East bracket to win $1.7 million, the only bet he lost, then $2.25 million on Kansas at +190 to win $6.5 million; $3.31 million on Kansas at +190 to win $6.3 million; and $3.3 million on Kansas at –200 to win $1.7 million.) Gallery sold a total of $12.9 million worth of furniture during the promotion, so once he refunds all of his customers, which he will do on April 24 during a big party in his store, he’ll have more than a $500,000 profit.

He sold $12.9 million of furniture, but is that gross revenue or profit? Probably gross sales. Big effin diffefence.

Would he have profited had the wagers lost?

[clockwise1965]

Chump change for the guy.

[newton0038]

The rich borrow against their share holdings. Paper for paper

[stake1]

Guy just keeps firing. High roller for the big events

[ThaWoj]

Im not saying he didnt but there was no mention of this being a furniture give away promotion maybe I missed it

[clockwise1965]

Action junkie...

[pavyracer]

How do you hedge a horse race where 20 horses can win?

[Chi_archie]

How do you hedge a horse race where 20 horses can win?

you tell your customers they get free furniture if race time fave wins....

you then bet the fave to win

[pavyracer]

you tell your customers they get free furniture if race time fave wins....

you then bet the fave to win

But that means he has to bet the 1.5 million 1 min before the race starts as the favorite is determined by the amount of total money wagered. Right?

[pilebuck13]

This guy has lost the value of money he has so much he does not care.

[pilebuck13]

you tell your customers they get free furniture if race time fave wins....

you then bet the fave to win

He don’t run promotions and hedge everything

[Chi_archie]

But that means he has to bet the 1.5 million 1 min before the race starts as the favorite is determined by the amount of total money wagered. Right?

yeah that was the plan

[Chi_archie]

He don’t run promotions and hedge everything

I'm not quite sure what you mean.

but he definitely had a promotion around this derby and mattresses. he talked about it a lot

[Fishhead]

But that means he has to bet the 1.5 million 1 min before the race starts as the favorite is determined by the amount of total money wagered. Right?

A few SBR posters here place his bets at various venues

[DrunkHorseplayer]

When you take into account the free publicity and extra sales that come with these huge bets, he's probably winning big.

[Fishhead]

When you take into account the free publicity and extra sales that come with these huge bets, he's probably winning big.

Breakeven at worst.

.............not counting the comps generated.

SULUD !!!

[jjgold]

The guy is not even a gambler

The idiots think he is a whale gambler