Mattress Mack, a renowned businessman from Houston placed the largest single wager in the history of Mississippi. Known for making big bets, Mattress Mack has been skipping from sportsbook to sportsbook since 1996. Just last week, Mack placed a $3.5 million bet on his beloved team the Houston Astros. DraftKings, where Mattress Mack placed his bet tweeted,
“History has been made at DrafKings at Scarlet Pearl Sportsbook, and we are thankful to be a part of it! Jim Mattress Mack’Mclngvale from Houston has officially placed his $3.5 million bets at Scarlet Pearl on the Astros to win the World Series!”
This reflects on the sports betting market which is quickly expanding across the country. Now bettors have the opportunity to wager in 13 different states with gambling giants such as William Hill announcing deals with the NBA, becoming their authorised sports betting operator for the league.
Return of the Mack
In 2017 Mattress Mack held a promotion at his furniture store, for much of the Major League Baseball season, he offered a refund to customers who spent $3,000 or more on mattress-related purchases if the Astros win the World Series. The promotion brought in around $15 million in sales. When Astros finally defeated the Dodgers in the World Series, Mattress Mack refunded $13 million in furniture sales. This year Mattress Mack chose to place his bets closer to home, Mississippi, replicating last years promotion for his customers.
Sports betting spreads
The sports betting market is taking flight since the Supreme Court ruled last year allowing states other than Nevada to offer wagering on games. Since the implementation of the court’s decision 16 months ago, now bettors can back their favourite teams with a few dollars, without it having to be an illegitimate activity as was the case in the past. Sports betting is mainly happening inside casinos and racetracks and increasingly on mobile phones.
“I think people are still getting their head around the idea that you don’t have to go to Vegas to bet,” said Matt Kalish, the chief revenue officer and co-founder of DraftKings. “We want people to come to us for these bets.”
According to the Las Vegas Sun, sports betting is also booming in states like New Jersey, where the court case that opened the floodgates originated, more money was wagered on sports in three of the last four months than in Nevada. These figures are expected to grow more as fans become comfortable with legal betting. Website tracking betting figures reported that nearly $11 billion have been wagered legally across the U.S since June 2018, with sportsbooks keeping about $690 million of that, a win rate of 6.4%. The mentioned figure does not imply that Nevada is in a weak position as total betting was up by 16% from August 2018, with $228 million in wagers.