Philanthropist Loses $15M Betting on the Wrong Teams

HE BLEW IT

Tracy Connor

Updated Jan. 20, 2020 5:53PM EST / Published Jan. 20, 2020 5:51PM EST

Rick Kern/Getty

A Texas businessman and philanthropist has given away a fortune—to sports betting books. Jim McIngvale, known as Mattress Mack because of his furniture empire, flew to Mississippi over the weekend to place two $500,000 bets for the Tennessee Titans to beat the Kansas City Chiefs, and lost. A week ago, he blew $1 million betting that the Houston Texans would vanquish the Chiefs. Of course, as the Houston Chronicle notes, that all pales in comparison to the $13 million losing bet he placed in October for the Houston Astros to win the World Series.

Read it at Houston Chronicle

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Philanthropist Loses $15M Betting on the Wrong Teams

Tracy Connor

Rick Kern/Getty