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Mattress King wins millions, but winds up only slightly ahead
Jim McIngvale, the mattress king of Houston, places bets with the underdog at the SuperBowl to cover his rebate of $3000. to any customers who buy mattresses from him if his team wins.
Mattress Mack Finally Wins a Big One, Cashes $3.46M Super Bowl Bet
In this instance, his team won, but this just barely covered the rebates he had to shell out, and is a means of self-insuring because no insurance company s willing to cover all of his potential losses against the rebate offer.
He didn't too well in 2019, or 2020:
https://www.truepassage.com/forums/s...ress#post40914
In any case, this year at least, he's doing a lot better than the Canadian (former) mattress king, Alan, the millionaire of Louis Theroux's BBC Las Vegas documentary fame, who ended up a broke Uber driver.
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