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Mattress Mack Places $1 Million Bet on March Madness Winner

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MILWAUKEE, WISCONSIN - MARCH 20: Trevion Williams #50 of the Purdue Boilermakers celebrates with Jaden Ivey #23 after defeating the Texas Longhorns 81-71 in the second round of the 2022 NCAA Men's Basketball Tournament at Fiserv Forum on March 20, 2022 in Milwaukee, Wisconsin. Stacy Revere/Getty Images/AFP (Photo by Stacy Revere / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

Houston furniture salesman, Jim “Mattress Mack” McIngvale placed a $1 million wager that the winner of the 2022 Men’s National Basketball Championship would come out of the East Region at +260 odds ahead of the tournament.

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The East Region has seen both it’s top seeds ousted from the tournament with the No. 2 Kentucky Wildcats losing in the opening round to the Saint Peter’s Peacocks, and the No. 1 Baylor Bears losing to UNC in the second round.

Each of the other three regions had their No. 1 seeds reach the Sweet Sixteen, and the South and West regions have both top seeds still alive. 

RELATED: Kentucky’s Loss to Saint Peter’s a Gigantic Win for Sportsbooks

McIngvale’s hopes are down to the noted Purdue Boilermakers, UCLA Bruins, UNC Tar Heels and Saint Peter’s Peacocks. It’s worth noting that both FanDuel Sportsbook and DraftKings Sportsbook don’t even have Saint Peter’s available in their NCAAB Championship futures.

Purdue National Championship Odds

Caesars Sportsbook: +1000

DraftKings Sportsbook: +850

FanDuel Sportsbook: +750

UCLA National Championship Odds

Caesars Sportsbook: +1600

FanDuel Sportsbook: +1500

DraftKings Sportsbook: +1300

UNC National Championship Odds

FanDuel Sportsbook: +4000

Caesars Sportsbook: +2200

DraftKings Sportsbook: +2200

Saint Peter’s National Championship Odds

Caesars Sportsbook: +20000

FanDuel Sportsbook: Off The Board

DraftKings Sportsbook: Off The Board

Based on the odds available from Caesars Sportsbook, the implied probability percentage for the National Champion to come out of the East Region is 19.8 percent. 

  • Purdue (9.1%)
  • UCLA (5.9%)
  • UNC (4.3%)
  • Saint Peter’s (0.5%)

Of course, one of those four teams will advance to the Final Four, and if the East Region winner advances to the National Championship Game, there will be a hedge opportunity for McIngvale. It’s also unlikely any of the four teams would be a significant favorite in their Final Four matchup.

RELATED: Mattress Mack Doubles Down with $5 Million Bet on Bengals Moneyline

Purdue does have the fourth shortest odds at FanDuel and DraftKings, and the fourth lowest at Caesars, so there’s still potential for McIngvale’s recent run of poor bets to reverse course. 

The furniture salesman lost a reported $9,534,000 betting on the Cinncinnati Bengals in Super Bowl LVI, in addition to $2.7 million on Alabama in the 2022 College Football National Championship game, and $2 million on a futures bet that the New England Patriots to win Super Bowl LVI.

McIngvale did win a $1.1 million spread bet backing the Bengals in the AFC Championship Game in January, though.

Make sure to keep an eye on our Live Odds page throughout the week to get the best lines possible and connect with others in the SBR community on our popular sports betting forum.