Mattress Mack Loses $7 Million on Super Bowl Promotion

We all know Denver Broncos quarterback Peyton Manning had a really tough day on Sunday, but it also was a rough day for a furniture salesman in Texas, as Jim “Mattress Mack” McIngvale gave away $7 million in furniture thanks to the win by the Seattle Seahawks. 

McIngvale has long been known for wacky promotions, and he may have outdone himself for this year’s Super Bowl. He offered customers a full rebate on furniture purchases of over $6,000 in the two weeks leading up to the game if the Seattle Seahawks won the Super Bowl.

Customers came in droves to purchase new furniture, and thanks to the Seahawks trouncing the Broncos 43-8, Mattress Mack is busy writing refund checks to the tune of $7 million.

The loss came after he ran a promotion for the AFC and NFC Championship Games, where he offered free furniture to 100 customers who correctly predicted the outcome of both games. He lost $685,000 on that promotion.

McIngvale is well known in horse racing circles, as his Gallery Furniture is the former sponsor of the Spinster Stakes at Turfway Park, a prep race for the Kentucky Derby.

Back in 2010, when horse racing fans were clamoring for a showdown between the champion fillies Rachel Alexandra and Zenyatta, he offered to pony up $2 million if they squared off at Sam Houston for the Gallery Furniture Distaff Stakes. It didn’t happen.

However, do not feel too sorry for Mattress Mack. While he has forked out $7 million in refunds, he is getting plenty of marketing punch out of the promotion, featured in national news reports online and on television.  He did not take any insurance out for the promotion, according to published reports.

What’s next for Mattress Mack? How about a trip to the Run for the Roses on the first Saturday of May?

A longtime horse owner, he has a talented three-year-old that recently broke his maiden at Oaklawn Park just days before the Super Bowl. On Jan. 31, his colt Discipline won by 10 1/2 lengths in his second career start.

Trained by Chris Richard and ridden to victory by jockey David Mello, the promising colt will likely head down the Derby Trail.

If the colt is good enough to make it to Churchill Downs for the Kentucky Derby, it may be wise to do some furniture shopping before the big race.

Follow Michael Dempsey on Twittter @turfnsport