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‘Mattress Mack’ loses millions in bets on Bengals

Updated February 14, 2022 - 11:18 am

Caesars Sportsbook won multiple seven figures, including $9.5 million in straight up bets on the Bengals made by Houston furniture store owner Jim “Mattress Mack” McIngvale.

Sunday’s wagers on Cincinnati (+170) to upset the Los Angeles Rams would have netted him $16.2 million.

McIngvale placed a $5 million money-line wager to win $8.5 million on Cincinnati on Friday . He already had a $4.5 million bet on the Bengals on the money line (+170).

He drove himself across the border to Louisiana, where he pulled over at a rest stop and placed the $5 million bet on his Caesars Sportsbook mobile app. The money line is a bet on the winner of the game, regardless of the point spread.

Caesars said it was the largest bet the book has ever taken, eclipsing a $4.9 million wager on the St. Louis Rams on the money line (-900) over the New England Patriots in Super Bowl XXXVI. The Patriots won 20-17.

McIngvale has now lost $22.3 million in wagers — which are hedges against furniture promotions — since winning $2.7 million on Tampa Bay in last year’s Super Bowl.

Those losses include:

— $1 million on Houston to win the NCAA title.

— $2.4 million on Essential Quality to win the Kentucky Derby.

— $4 million on the Astros to win the World Series.

— $2.7 million on Alabama to win the College Football Playoff national title game.

— $2 million on the Patriots to win the Super Bowl.

— $1.7 million on the Titans to win the Super Bowl (offset by a $1 million win on the Bengals +3½ over Tennessee in the divisional round).

— $9.5 million on the Bengals in the Super Bowl.

He watched Sunday’s Super Bowl at Camp Hope with combat veterans battling post-traumatic stress disorder and said that helped him keep his gambling losses in perspective.

“Even though I lost $10 million, when I see those guys struggling to get back in society and battling valiantly to try to turn their lives around, me losing a football game is not a big deal,” McIngvale said. “I had a good time with them cheering for the Bengals. We got really close on that one. We live to play another day.”

Todd Dewey can be reached at tdewey@reviewjournal.com.

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