Well-Known Bettor Places $1.5 Million Wager On TCU

by Larry Leo

January 4, 20239 Comments

According to reports, Jim McIngvale, aka "Mattress Mack," has put down $1.5 million on the underdog TCU at the DraftKings Sportsbook in Louisiana. The payout is huge...

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(The Spun)

Filed Under: NCAA Football

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Originally published on TigerDroppings.com

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cajunmud•17 months

Mack's got an angel on his shoulder.

Geaux Guy•17 months

Tempts me to go put $500 on the same bet.

Timeoday•17 months

He is just spreading the wealth and getting plenty of positive advertising in the State of Texas. This guy bet $10 million on the Astros and won $75 million in the 2022 World Series win by the Astros.

cajunmud•17 months

Are your numbers correct? That sounds awfully high.

VoxDawg•17 months

Do these guys just write off the bet as a business expense if they lose?

ALhunter•17 months

Of course they do. If you gamble professionally then losses are business expenses. The IRS will double dip if you aren't a professional by forcing you to claim large gains while disallowing losses, but large gamblers can (rightly) write off losses, just as they must claim gains.

cajunmud•17 months

I know you use to be able to counter your horse racing wins with your loses also. I use to have a trunk full of losing tix, some I picked up off the ground...haha.

atltiger6487•17 months

Michigan (and a terrible review overturned call) gave away the game to TCU, and Kirby's going to have his team pissed off. I expect UGA to roll.

DeafVallyBatnR•17 months

That's the money line. He doesn't benefit from the +12.5 points. TCU has to win outright for him to collect. That's pretty strong.

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