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The Houston furniture mogul who has found fame as a massive
sports bettor is putting his money -- a lot of it -- on the
underdog to win the Super Bowl. McIngvale bet $4,53434,000 on
the Bengals to beat the Los Angeles Rams on Sunday in Inglewood,
Calif.
The money-line wager was made at +170 odds, meaning McIngvale's
profit would be $7,707,800 if Cincinnati prevails.
McIngvale drove from Texas over the Louisiana border to place
his bet using the Caesars Sportsbook app.
According to Caesars, it is the largest mobile sports bet ever
placed. The sportsbook also said it was the second-largest Super
Bowl bet it has accepted, following a $4.9 million wager on the
St. Louis Rams to win Super Bowl XXXVI over the New England
Patriots in February 2002. That gambler took -900 odds on the
money line, but he lost when the Patriots won 20-17 for their
first Super Bowl title.
In an interview with ESPN, McIngvale said, "I had to make like
twenty $200,000 bets to make it work. But I want to thank
Caesars for taking it."
Caesars Sportsbook told CNBC, "We're not at all afraid to take
in a $4.5 million bet on the Super Bowl, and we embrace
accepting the biggest bets on the biggest events."
As McIngvale has done in the past when placing large bets on
sporting events, he will reduce his risk by offering deals at
his furniture stores that could offset his potential losses.
Customers who make a large purchase prior to the Super Bowl will
get $3,000 refunded if the Bengals beat the Rams.
--Field Level Media
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