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Tuesday, November 28, 2023

The Houston Astros Are Queasy Money for Sportsbooks Because of 1 Wild Bet

The Houston Astros are the reigning World Series champions. Their 2018 season has been a disaster, losing over 100 games and sitting at the bottom of their division with an 18-42 record. But they’ve still seen some action on the board, which is why sportsbooks have them listed as one of the most likely teams to win this year’s World Championship.

The mattress mack net worth is the amount of money that Mattress Mack has put on his Astros to win the World Series.

The occasional demonstrations at their games show that there are still some MLB fans who aren’t satisfied with the Houston Astros’ 2017 World Series victory. Try walking in the shoes of executives at the William Hill sportsbook if you believe the possibility of a 2021 title gets those fans fired up.

It’s one thing to be agitated about the Astros’ chances of winning the World Series, but it’s quite another to lose $20 million. But that’s precisely what’s on the line after a big gamble made by a Texas businessman.

The signal-stealing incident involving the Houston Astros was a blot on MLB’s record.

Houston businessman Jim McIngvale, known as 'Mattress Mack,' poses for a portrait at his Gallery Furniture store in Houston. | Mark Felix for The Washington Post via Getty Images ‘Mattress Mack,’ a Houston businessman, sits for a picture in front of his Gallery Furniture shop in Houston. | Getty Images/Mark Felix for The Washington Post

The Houston Astros have been around since 1962, yet it took them until 2005 to make it to the World Series, and then until 2017 to win it in a seven-game nail-biter against the Los Angeles Dodgers.

The Athletic utilized information from pitcher Mike Fiers two years later to show how the Astros put together an elaborate scheme to cheat their way to the World Series. The Astros grabbed catchers’ signs and knew what was coming thanks to a camera in center field and a monitor on the dugout runway. They alerted Houston hitters to whether they should anticipate a fastball or a breaking pitch by banging on a trash can near the dugout.

The contents of the website’s allegation were examined and verified by the MLB commissioner’s office. Manager A.J. Hinch and general manager Jeff Luhnow were suspended for a year as part of the penalty. MLB also fined the team $5 million in addition to removing draft choices.

Commissioner Rob Manfred, on the other hand, did not deprive the Astros of their World Series championship.

The epidemic forced the start of the 2020 season to be postponed. Opposing spectators booed the Astros, brandished placards criticizing them for cheating, and hurled items on the field to express their disgust once the game began. The trend continued through the 2021 season.

The Houston Astros, like ‘Mattress Mack,’ are on the hunt.

On Sunday night, the Houston Astros and Chicago White Sox will play Game 3 of their American League Division Series, which is now knotted at one game each. The Astros are now just 11 wins away from winning their second World Series.

Their supporters are rooting for them, but none more so than Jim McIngvale, also known as Mattress Mack around town. McIngvale owns and runs the Gallery Furniture shops, which generate a lot of business thanks to an enticing promise he makes every year: customers who spend more than $3,000 receive their money back if the Astros win the World Series.

Because he minimizes his potential risk by placing bets with bookmakers, McIngvale can afford to cheer for the Astros to win. He bet $2 million at 10-to-1 odds with the William Hill sportsbook, which is owned by Caesars Entertainment Inc., in June. That puts him in pace for the largest legalized betting victory in US history, according to ActionNetwork.com.

Mattress Mack’s antics didn’t end there. He placed a number of additional wagers. In all, he is wagering $3.25 million in the hopes of winning $35.6 million. After taxes, McIngvale will barely pay the estimated $20 million in possible liabilities from the advertising.

Caesars VP Craig Mucklow told the outlet, “Obviously the Astros would be the worst-case scenario.” “It’s a fun wager to make, but it’d be great if they were knocked out early.”

In that case, McIngvale would lose $3.25 million, which is a lot better than a $20 million loss.

This isn’t the first time ‘Mattress Mack’ has done it.

Businessman Jim McIngvale lost approximately $5 million in 2019 when the Washington Nationals defeated the Houston Astros in the World Series, despite the fact that the alternative would have been rebating $20 million for a championship. Because the pandemic reduced sales volume to approximately $6 million in qualifying purchases in 2020, he didn’t have to gamble (or lose) as much. The $250,000 hit was a little blip on the radar.

Mattress Mack was struck hard by the 2019 defeat, but FanDuel, which handled most of the activity from McIngvale, hailed the World Series as its most profitable sports event to date.

According to Yahoo! Finance, FanDuel’s director of risk and trading John Sheeran stated, “The Astros had a 55-45 spread in terms of bet count, but when it came to money, it was 85 percent to 90 percent in favor of Houston.”

This time, McIngvale is more enthusiastic than apprehensive.

“All we have to do now is make the best run,” he added.

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The prop bets is a bet that has been placed on the Houston Astros to win the World Series. The odds were 1 in 10,000 and it was an aggressive bet.

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