Ahead of the 2022 Super Bowl comes history as the single-largest legal sports bet ever has been placed on the Cincinnati Bengals to take home the trophy.
The bet was placed by Jim McIngvale, known for his work in the furniture industry owing Gallery Furniture in Houston, and comes in at $5 million, surpassing the previous record of a $4.9 million wager on the 2002 Super Bowl, CNBC reported.
The single money-line bet was made on the Caesars Sportsbook app in Louisiana and came less than a month after the launch of the app on Jan. 28.
Mattress Mack, as he is lovingly referred to, could now possibly make $16.2 million if the Bengals take down the Los Angeles Rams.
To make the bet, McIngvale drove from Texas to Louisiana and put his money on the Ohio team last week. This wasn’t the first time he put big money on a game, either.
When the Houston Astros lost the World Series last year, he lost a $3.25 million bet. He also lost a $6 million wager placed on Alabama to win the college football championship.
The bets aren’t just for fun, though, as McIngvale told CNBC that he makes the bets as an insurance hedge for the sales promotions he runs to bring in new customers. For example, the current promotion promises a refund on purchases of more than $3,000 if the Bengals win the Super Bowl.
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