He may be beloved in Houston for the deals he puts in front of customers and for his extensive charitable efforts, but Mattress Mack hasn’t done fellow bettors any favors by going all-in once again on a World Series futures bet.
When someone like him plucks down huge money on the Houston Astros five-plus months before MLB’s World Series, it’s all the other prospective bettors who pay.
Mattress Mack makes his biggest bet yet
Jim “Mattress Mack” McIngvale made two bets with legal sportsbooks last week that attracted a lot of attention. That’s understandable when the wagers total $4 million at double-digit odds.
McIngvale, the Gallery Furniture owner and well-known gambler, stands to net $42 million should his hometown Houston Astros win the World Series this fall. The thing is, relatively little of it would land in his wallet.
It’s become an annual ritual for McIngvale, who made $3.5 million of Wagers on the 2021 Astros. He wins some of the seemingly crazy bets and loses some, but it’s the cost of doing business. He makes his annual baseball wagers to hedge against the promotion that has helped make his furniture business a major retailer in a major market.
In the past, McIngvale offered a money-back guarantee to customers if they purchased $3,000 worth of certain lines of bedding or furniture and the Astros went on to win the World Series. This time, though, Mattress Mack is offering customers double their money back on the same proposition.
Mattress Mack’s bets on the Houston Astros are a calculated risk
One way or another, Mattress Mack ends up paying. But hedging his bet is the smart play. He used Louisiana’s legal sportsbooks to put down $3 million on the Astros at 10-to-1 odds with Caesars Palace and another $1 million at 12-to-1 odds through WynnBET on Friday. The potential $30 million net gain from Caesars would represent the largest win ever at a legal sportsbook.
If the Astros fail to win the World Series, Mattress Mack loses the $4 million he wagered but doesn’t have to return any money to customers. If the team wins the MLB title for the first time since 2017, the taxman gets the first bite of the $42 million gain, and much of the rest goes into the promised rebates. How much would be left for the businessman after paying back the customers isn’t known, but it likely isn’t a lot.
In April, Jim McIngvale wagered wisely on Kansas in the NCAA Tournament in men’s basketball, winning nearly $15 million to cover another customer rebate promotion.
“Thank God for my wonderful customers,” he said. “They won this game and I love them all to death.”
His big gamble takes a bite out of the rest of us
Like the illegal bookie before them, sportsbooks can’t stay in business if there are too many winning wagers. Luckily, they have the rest of us to help balance the books.
When the potential winning bets start overwhelming possible losing bets dollar-wise, the easy solution is to lower the odds for subsequent bets, and that’s how the sportsbooks doing business with Mattress Mack have responded. After he put down $4 million in two bets on Houston, Caesars Palace and WynnBET lowered their odds on the Astros winning the World Series to 8-to-1. That represented reductions of 20% and 33%, respectively, by two sportsbooks.
To further protect themselves, those two entities likely will attempt to lay off some of the action on the Astros to other legal sportsbooks in the coming weeks and months. It’s not much different than the way Mattress Mack hedges his bets to cover potential rebates to customers.
Given that the Astros entered Tuesday action with the fourth-best record in baseball and had won eight of their last 10 games, those odds could have started dropping regardless of Mattress Mack’s actions. But he made it happen that much sooner.
How to get help: In the U.S., contact the National Council on Problem Gambling helpline at 1-800-522-4700.
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The post Mattress Mack’s $4 Million World Series Bet Means a 20% Haircut or Worse for the Rest of Us appeared first on Sportscasting | Pure Sports.
By: John Moriello
Title: Mattress Mack’s $4 Million World Series Bet Means a 20% Haircut or Worse for the Rest of Us
Sourced From: www.sportscasting.com/mattress-mack-4-million-world-series-bet-means-a-20-haircut-or-worse-for-rest-of-us/
Published Date: Wed, 18 May 2022 03:02:05 +0000
Did you miss our previous article…
Taylor Swift’s rep responds to reports the singer has the worst private jet carbon emissions
A spokesperson for Taylor Swift has responded to a report that named the singer as the celebrity with the worst private jet CO2 emissions.
Yesterday, a report released by Yard claimed the American singer was the biggest CO2 polluter of the year so far, having flown in her private jet 170 times since January and totalling 8,294.54 tonnes of CO2.
However, Swift’s spokesperson told Buzzfeed News the statistics are inaccurate.
For context, the report claims the average person produces just seven tonnes of carbon emissions per year.
Swift’s representative said only some of the 170 flights can be attributed to the singer: “Taylor’s jet is loaned out regularly to other individuals. To attribute most or all of these trips to her is blatantly incorrect.”
Regardless, it is clear Swift’s jet is racking up significant amounts of carbon emissions due to its inefficient use.
According to the Yard report, her average flight time is just 80 minutes, and her jet’s shortest recorded flight flew between Missouri and Nashville for just 36 minutes.
Other significant celebrity polluters include boxer and domestic violence perpetrator Floyd Mayweather, whose shortest flight was just 10 minutes long but emitted one ton of carbon; Kim Kardashian, who has emitted 609 times more carbon than the average person; and director Steven Spielberg, who took an 18-minute flight between Rotterdam and Amsterdam – a route which, when taken by train, takes only an hour.
The subject of celebrity carbon emissions has blown up ever since Kylie Jenner shared an out-of-touch photo of her and partner Travis Scott posing in front of their private jets with the caption, “you wanna take mine or yours?”
In the midst of the backlash, many began diving deeper into Jenner’s private jet use by examining the Celebrity Jets Twitter account, which records celebrity private jet trips.
Many were horrified she was regularly taking flights as short as 12 minutes and reprimanded her for “her absolute disregard for the planet”.
Many found it hypocritical that ordinary people were being asked by big companies to reduce their car trips and use paper straws when celebrities are constantly leaving huge carbon footprints with frivolous trips in their private jets.
Despite the wave of criticism, celebrities have continued to take private flights between short distances.
Title: Taylor Swift’s rep responds to reports the singer has the worst private jet carbon emissions
Sourced From: celebrity.nine.com.au/latest/taylor-swift-private-jet-co2-emissions-highest-celebrity-rep-statement/589119a2-fb57-48bc-9547-73c28db53d21
Published Date: Sun, 31 Jul 2022 03:07:00 GMT
Did you miss our previous article…
Jodie Sweetin Marries Mescal Wasilewski with ‘Fuller House’ Co-Stars in Attendance!
Jodie Sweetin is married!
The 40-year-old actress, best known for playing Stephanie Tanner on Full House and Fuller House, married social worker Mescal Wasilewski on Saturday (July 30) at a private home in Malibu, Calif. after five years together.
Click inside to read more…
Jodie and Mescal wed in an intimate backyard ceremony that included her two daughters – Zoie, 14, and Beatrix, 11 – and her Fuller House co-stars including John Stamos, Candace Cameron Bure, and Andrea Barber.
“I know I have the right partner for the rest of whatever life brings me,” Jodie shared with People. “And I couldn’t be more grateful.”
Jodie and Mescal were first introduced through friends in 2017 and dated long-distanced before Mescal moved from New York City to Los Angeles in 2020. They got engaged in January 2022.
This is the fourth marriage for Jodie – she was first married to Shaun Holguin from 2002 to 2006, to Cody Herpin from 2007 until 2010, and to Morty Coyle from 2012 to 2016. She shares Zoie with Cody and Beatrix with Morty.
Congrats to the newlyweds!
By: Just Jared
Title: Jodie Sweetin Marries Mescal Wasilewski with ‘Fuller House’ Co-Stars in Attendance!
Sourced From: www.justjared.com/2022/07/31/jodie-sweetin-marries-mescal-wasilewski-with-fuller-house-co-stars-in-attendance/
Published Date: Sun, 31 Jul 2022 04:26:28 +0000
Did you miss our previous article…
How to Make Sense of a Very Unpredictable Fall Movie Season
All of a sudden, the fall movie season looks very busy. This week brought two big festival announcements loaded with major films to come: First came Venice, with a lineup that includes everything from Darren Aronofsky’s “The Whale” to “Bardo”; it was followed by TIFF, where Steven Spielberg’s “The Fabelmans” will premiere alongside Sam Mendes’ “Empire of Light” and Sarah Polley’s “Women Talking,” among many others. Meanwhile, Telluride continues to shroud its selections in secret, but the latest lineups help us get a sense of what to expect there as well.
In this week’s episode of Screen Talk, Eric Kohn and Anne Thompson dig through both lineups to get a sense for which films could impact the coming awards season and why it’s almost certain to be an unpredictable ride. They also address the return of competitiveness between festivals that seemed to subside earlier in the pandemic, and touch on the recent changes to the Oscar submission rules in France.
Watch the full episode above or listen it below.
Screen Talk is produced by Azwan Badruzaman and available on Apple Podcasts, Stitcher, and Spotify, and hosted by Megaphone. Browse previous installments here, subscribe here, and be sure to let us know if you’d like to hear the hosts address specific issues in upcoming editions of Screen Talk.
By: Anne Thompson
Title: How to Make Sense of a Very Unpredictable Fall Movie Season
Sourced From: www.indiewire.com/video/tiff-venice-2022-analysis-spielberg-screen-talk-391-1234746652/
Published Date: Fri, 29 Jul 2022 20:52:17 +0000
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