News

Mattress store loses $7M on Super Bowl bet

Mattress store loses $7M on Super Bowl bet

A LOT OF MATTRESSES: Quarterback Russell Wilson (above) led his team to their first Super Bowl victory. Houston furniture store mogul Jim McIngvale is out some $7 million on the big game. Photo: Associated Press

HOUSTON (AP) — Mattress Mack is a big Super Bowl loser.

Houston furniture store mogul Jim McIngvale is out some $7 million on the big game.

He owns the Gallery Furniture store chain. Mattress Mack promised to refund large purchases made in the two weeks before the Super Bowl if Seattle won.

Of course, Seattle won big, beating Denver 43-8.

McIngvale says his accountant is “pulling his hair out.” Mattress Mack adds the loss won’t be covered by insurance.

COMPLETE COVERAGE: Super Bowl XLVIII

Some Super Bowl bettors scored by big on Sunday’s blowout. Fans who bet the first score in the game would be a safety were paid 60-to-1. It was one of the so-called proposition bets on minor points of the game, including which team would win the coin toss.

But overall, the Las Vegas casinos were the big winners. Nevada state gaming officials say early figures show the casinos made nearly $20 million in profits.

Nevada sportsbooks have lost only twice on the Super Bowl in the past 20 years.

Latest Stories

27 minutes ago in Sports

Knicks fire head coach Woodson

Fresh
knicks

The dismissal comes after the Knicks completed a 37-45 season that began with them believing they were a serious contender.

38 minutes ago in National

Thousands flock to annual White House Easter Egg Roll

Fresh
easteregg

Thousands of children are gathering at the White House for the annual Easter Egg Roll.

53 minutes ago in Sports

World Cup to kick up prices in inflation-weary Brazil

Fresh
worldcup

As if unfinished stadiums and crowded airports weren't enough, the World Cup will give Brazilian policymakers another headache.