MLB: World Series-Houston Astros at Atlanta Braves

If it's a marquee sporting event, Jim "Mattress Mack" McIngvale will likely have (a lot of) money on it. March Madness is no different, as the Texas furniture store owner has placed a total of $4.05 million in bets on Houston men's basketball team to win the 2023 NCAA Tournament. 

During the 2022-23 regular season, McIngvale placed multiple bets on Houston to win the national title:

  • $1.05 million wager on Houston to win at +850 odds with FanDuel Sportsbook.
  • $1 million with DraftKings Sportsbook at +900 odds.
  • $1 million with Caesars Sportsbook at +800 odds.
  • $500,000 with BetMGM at +1000 odds.
  • An additional $500,000 with Barstool Sportsbook at +900 odds.

If the Cougars end up winning the NCAA Tournament, McIngvale's bets would net him a grand total of $39.475 million. As always, McIngvale is holding a promotion at his furniture store, in which customers that spend over $5,000 can get their money back if Houston wins it all.

McIngvale is no stranger to placing large wagers on sporting events. He won $75 million when the Houston Astros won the 2022 World Series, which is the largest payout in United States sports betting history. McIngvale also took a $2 million loss when he bet on the Dallas Cowboys to defeat the San Francisco 49ers in the NFC Divisional Round back in January.

No. 1 seed Houston will face No. 16 seed Northern Kentucky in the Midwest Region on Thursday night to begin their NCAA Tournament run. If the Cougars reach the Final Four, McIngvale will likely have a front row seat, as the Final Four will be played at NRG Stadium in Houston on April 1 and April 3.