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McIngvale, who owns the Houston-based Gallery Furniture chain,
would pocket $75 million if the Astros complete their
championship run with a win over the Philadelphia Phillies in
the Fall Classic.
Action Network reported that the $75 million payout would be the
largest in legal gambling history.
According to USA Today, McIngvale bet $3 million on the Astros
to win the World Series back in May. He has since placed another
$7 million on Houston, he told Bleacher Report.
Big-money bets are nothing new to McIngvale. He won more than
$15 million when Kansas won the NCAA Tournament earlier this
year after losing $9.5 million on wagers that the Cincinnati
Bengals would win the Super Bowl.
He also dropped $6.15 million when Alabama fell to Georgia in
the College Football Playoff national championship game.
Unlike most bettors, though, McIngvale has a built-in backup
system. He offers shoppers at his stores rebates if the team he
has bet on wins. For example, consumers who bought a sleep set
of $3,000 or more this fall would get their money back in the
Astros win the World Series.
The plan drives business to Gallery Furniture, and it figures to
be even more lucrative with the hometown Astros involved in the
equation.
--Field Level Media
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