Houston Mattress Salesman Wants $10M Astros WS Bets to Pay for Refund Promotion

The owner of a Houston mattress store is looking to protect his business on a refund promotion by making sizable hedge bets.

According to ESPN's Dave Purdum, Gallery Furniture owner Jim "Mattress Mack" McIngvale is offering customers a refund on purchases of mattresses worth $3,000 or more if the Houston Astros win the World Series.

Purdum noted Mattress Mack is looking to make $10 million in bets, which would lead to $20 million in winnings, to help cover potential losses.

"I've placed hedge bets [on the Astros] at certain places, with still a few more to go," McIngvale said. "It's all kind of in flux. It's like the stock market. You have to shop for the best price."

Houston will enter the 2019 postseason as the favorite, as it boasts an MLB-high 104 victories. It marked the third straight season in which the franchise has eclipsed the 100-win plateau, a streak that started during the World Series championship-winning season of 2017.

The Astros' roster features a number of players from that title team, though it has since added 2009 American League Cy Young Award winner Zack Greinke, four-time All-Star Michael Brantley, three-time All-Star Gerrit Cole, 2012 All-Star Wade Miley and 2019 American League Rookie of the Year favorite Yordan Alvarez.

Houston's championship aspirations are powered by a rotation that is tied for third in the majors with a 3.64 ERA. The rotation is anchored by Justin Verlander and Cole, who are both expected to finish in the top two in AL Cy Young voting this season. 

Meanwhile, Greinke came within two outs of throwing the Astros' third no-hitter of the season in his latest start on Tuesday. Aaron Sanchez and the bullpen combined to throw one on Aug. 3, while Verlander tossed his third career no-no on Sept. 1.

The midseason acquisition of Greinke and Verlander's no-hitter has generated no shortage of business for McIngvale.

"The customers aren't dumb," McIngvale told Purdum. "They know what's going on. They're hedging themselves as well."

According to Purdum, a Las Vegas sportsbook took a $200,000 bet from McIngvale at +250 odds. Meanwhile, FanDuel is willing to accept a $10 million wager, though it needs approval from state regulators to do so.

This is not the first time Mattress Mack has offered a refund promotion. He had to refund approximately $9 million in 2014 when the Seattle Seahawks defeated the Denver Broncos in Super Bowl XLVIII. He also ran a promotion when the Astros won the World Series in 2017, though he hedged at that time as well.