This past Sunday was Super Bowl Sunday and the pinnacle of America’s hottest new past time, sports gambling. The American Gaming Association estimates that Americans wagered $4.3 billion on the big game. One man, Jim McIngvale, won a whopping $2.72 million! At first, this looks like extravagant, rich guy gambling, but there is more going on.
Jim McIngvale, also known as Mattress Mack, is a furniture store owner in Houston Texas, and he bet $3.46 million that the Tampa Bay Buccaneers would cover a 3.5 point spread. To win this bet, he needed Tampa Bay to win or to lose by less than 3.5 points. Since Tampa Bay won, he cashed in a net $2.72 million. But even if he had lost, it was a genius bet.