Baseball has a long history of traditions as America’s pastime. Over the last five years, there’s been a new tradition: the Houston Astros playing deep in October.
The Astros, who historically had a tough time winning in the postseason, has won four American League pennants in the last six seasons. One fan, Jim ‘Mattress Mack’ McIngvale, welcomes the newfound success with open arms and an open checkbook.
McIngvale owns and operates the Gallery Furniture retail chain. Mack and his stores are famous for running promotions that give out free furniture to customers if a specific team wins a championship.
For example, here's this year’s World Series promotion: "When you purchase a Tempur-Pedic, Stearns & Foster or Sealy mattress sleep set priced at $3,000 or more, and if the Houston Astros win it all in the 2022 final championship series, your purchase is FREE!," according to Gallery Furniture's website. "Join us at any Gallery Furniture showroom TODAY make your qualifying mattress purchase for the chance to get it all FREE FREE FREE!"
In an interview with Greg Ivory of Bleacher Report, Mack said that he has around $10 million in bets on the Astros to win it all, with an average payout of $7.5 million per $1 million bet. So, if the Astros win, Mack will receive around $75 million.
I’m not sure how many people in Texas will be taking Gallery Furniture up on its promotional offer if the Astros win the World Series, but $75 million sounds like more than enough to cover the tab. Plus, the marketing is working. Gallery Furniture is now officially the only Texas furniture store I can name.
Sports-betting stocks like DraftKings Inc DKNG and Penn Entertainment Inc PENN were trading lower Monday morning. Shares of DKNG were down 4.09% to $12.66 and PENN was 1.51% lower to $29.98.
Photo: Courtesy of Brent Moore on flickr
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