Apparently, the furniture business is just as INSANE as furniture store commercials.
There’s a guy named MATTRESS MACK who’s big in the Houston area, and he lost $13 MILLION betting on the Astros in the World Series.
But he’s not TOO upset about it, because he was going to lose millions if they won, too.
That’s because he was running a wild, season-long promotion in his stores, where he promised to refund all purchases of more than $3,000 if the Astros won the title.
The math is a little fuzzy, but he apparently had $20 million in liabilities from the promotion, and he was making huge bets on the Astros as a way of covering the loss.
And his bets must have been huge, because he claims he could’ve won $25 MILLION if the Astros won . . . despite them being the favorites in the series . . . which might have been enough for him to come out on top.
He said, quote, “I feel like I hedged perfectly . . . I’d do this again tomorrow.”
And you better believe him. He did the promotion back in 2017, when the Astros DID win. And he honored all the free mattresses back then, issuing rebates of “more than $10 million in purchases” at the time.
He also did it last year, when the Astros lost in the ACLS to the Boston Red Sox.
And in 2016, he issued $10 million in refunds after a promotion where his customers would “bet” on who would win the election, Donald Trump or Hillary Clinton.
For the record, Mack is making a LOT of money on selling mattresses in these gambles that he might not ordinarily sell . . . so you have to factor that in, too. In fact, Mack said that this year, he believes he came out “about even.”
(Here’s a news report on this guy. And here’s another video.)