Mattress Mack, gambler, philanthropist, makes Louisiana his sports betting home

"Mattress Mack" made another monster sports bet in Louisiana Monday, this time in conjunction with the opening of the renovated Horseshoe Casino in Westlake next door to Lake Charles, where Caesar's spent hundreds of millions rebuilding and renovating the property after it was destroyed by Hurricane Laura in 2020.

Jim McIngvale, the Houston furniture magnate known as Mattress Mack, is fresh off winning $75 million on the Houston Astros after their World Series victory, the biggest payout in the history of sports wagering with the bulk of those bets being through an app in a Lake Charles Sonic Drive-in stall.

But McIngvale made Monday's wager in person at the Horseshoe sportsbook as part of the grand opening, placing $1 million in cash on the counter to bet on the Houston Cougars to win the men's Final Four at 8-to-1 odds.

"It's a risky bet, but no guts, no glory," McIngvale said. "I like Caesars because they fade whatever I got. A lot of the other casinos won't take those big bets."

When McIngvale walked out of the Horseshoe's front entrance for the ceremony he drew huge cheers from the crowd waiting on the opening.

McIngvale is a beloved figure in Houston, not just for his high-stakes gambling, but also for his philanthropy.

He opened up his Gallery Furniture stores as shelters during past Houston hurricanes like Harvey in 2017 and Winter Storm Uri in 2021. Much of the Lake Charles gambling market is fed by Houston, which is only a 2-hour drive.

"We love this man," said Houston resident Cassandra Fontenot as she took a selfie with Mattress Mack. "He cares so much about our city and gives so much back. You can't go wrong with him."

But he's also been a good neighbor to Louisiana, offering shelter during Hurricane Katrina in 2005 and again during Hurricane Ida in 2021 to anyone with a Louisiana ID.

"My father taught us all we have a responsibility to care for others who need help," McIngvale said. "We've been doing that for 42 years and we're not going to stop."

McIngvale, who was born in Mississippi, also has other Louisiana connections. His brother Ralph McIngvale, who also lives in Houston, played football at LSU. "He was Steve Ensminger's roommate," he said.

"I like Lake Charles and Louisiana; the hospitality and people are excellent and so are the casinos," he said.

Louisiana Gaming Commission Chairman Ronnie Johns says McIngvale's presence boosts business in the state.

"You see how he's greeted; it's great marking for us as a destination," Johns said. "He's the most famous gambler in America."

McIngvale's bets are less about him and more about his business.

He using the massive wagers as promotions for his stores. When he wins, customers who spend a minimum amount get their money back and keep the furniture. And even if he loses, like the epic $9.5 million he lost on the Cincinnati Bengals in last year's Super Bowl, the promotions drive business.

"What can I say?" McIngvale said. "I'm a promoter. I was born to do this."

Greg Hilburn covers state politics for the USA TODAY Network of Louisiana. Follow him on Twitter @GregHilburn1.

This article originally appeared on Lafayette Daily Advertiser: Mattress Mack makes massive bet in Louisiana to open Ceasars Horseshoe