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A mattress store bet $1.2 million on Bama
Posted on 1/9/22 at 5:17 am
Posted on 1/9/22 at 5:17 am
4
Posted on 1/9/22 at 5:24 am to My2Bits
Are they going out of business?
Posted on 1/9/22 at 8:54 am to TizzyT4theUofA
No, they've done similar things before - I remember reading about them. I guess whatever strategy he has is working
Posted on 1/9/22 at 10:12 am to Sneaky__Sally
The publicity you get from something like this is huge. Also, if you're right, you make money on top of it.
Posted on 1/9/22 at 4:24 pm to TizzyT4theUofA
quote:
Are they going out of business?
I understand the reference.
Posted on 1/9/22 at 4:37 pm to My2Bits
It’s a business move. Two outcomes occur
1. They win the bet, make enough to cover the “free” mattress costs.
2. They lose the bet, but the amount of mattresses purchased and the marketing exposure leads to them breaking even at minimum.
Also they can put it down as a marketing expense if they lose, so they avoid about 300K in taxes if they’re making over 1.2M in profit on the year.
1. They win the bet, make enough to cover the “free” mattress costs.
2. They lose the bet, but the amount of mattresses purchased and the marketing exposure leads to them breaking even at minimum.
Also they can put it down as a marketing expense if they lose, so they avoid about 300K in taxes if they’re making over 1.2M in profit on the year.
Posted on 1/10/22 at 5:44 am to UhOhOreo
Google “mattress mike bet” dude does it a lot. Seems like a solid person, did a bunch after hurricane harvey
Posted on 1/10/22 at 6:22 am to My2Bits
He is expected to sell over $3 million in mattresses prior to the game.
Posted on 1/10/22 at 7:05 am to TideWarrior
stupid question but if alabama wins him 1.5 million and he sells 3 million worth of mattress' that he has to refund to his customers doesn't that mean he will lose money?
This post was edited on 1/10/22 at 7:06 am
Posted on 1/10/22 at 8:27 am to Section 80
I assume it will be based on his markup. Not sure what the cost of the mattress is for him at cost.
Posted on 1/10/22 at 8:45 am to Ted2010
quote:
I understand the reference.
Thank you! I was thinking I really am getting old.
This post was edited on 1/10/22 at 8:51 am
Posted on 1/10/22 at 9:46 am to My2Bits
Go to the store at closing time tonight an buy one, and if they lose, stop payment on the check!........just kidding!
Posted on 1/10/22 at 9:48 am to Bamafan24
quote:If he loses, it's applied as advertising expense, and if he wins, he pays taxes on the winnings....smart move.
The publicity you get from something like this is huge. Also, if you're right, you make money on top of it.
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