Huh? Famed Sports Gambler ‘Mattress Mack’ Comes Out Against Legalized Sports Gambling: ‘I Think All That Glitters Is Not Gold’

Hannah Ruhoff/The Sun Herald via AP

Notorious sports gambler Jim McIngvale, “Mattress Mack,” came out against the idea of his home state of Texas legalizing sports gambling.

McIngvale cashed out on a $75 million payday in November after the Houston Astros won the World Series. In May 2022, he placed a $3 million bet on the Astros at 10-1 odds before he added more wages to his bet as the season progressed. He also got into a firey altercation during World Series game three with Philadelphia Phillies fans after leaving Citizens Bank Park following an Astros loss.

But the famous furniture store owner and gambler told the Houston Chronicle that he now thinks the state of Texas should not legalize sports betting.

“I’m known as one of the biggest sports gamblers in the world,” McIngvale said. “Everything I do, I bet legally. Driving to Louisiana for two hours is not that much of an inconvenience. And I think all that glitters is not gold. They’ve got to look at it because I’m concerned that the revenue estimates as far as what’s going to come into the state are way overblown.”

In 2021, McIngvale wrote an opinion piece for the Chronicle with the headline titled, “It’s time for the Texas Legislature to legalize sports betting,” and he noted how it was a hassle for him to travel to Colorado to place a bet. Now, he has pivoted and has the polar opposite view on legalized sports betting.

“My change of heart is that I know myself, and I’ve seen the light as far as impulsiveness on me to sports gambling,” McIngvale said. “Because I’ve got to drive to Louisiana, it limits those impulses by a factor of 1,000. So I’m not in favor of sports gambling in Texas.”

Dallas Cowboys owner Jerry Jones, Houston Astros owner Jim Crane, Houston Rockets owner Tilman Fertitta, and Houston Texans owner Cal McNair have all attached their names and organizations to the Texas Sports Betting Alliance. Former Texas Governor Ricky Perry (R) has become a spokesman for the group.

“Legalizing mobile sports betting in Texas will finally allow the state to protect consumers from illegal offshore betting sites while keeping the money generated from betting in Texas to benefit Texans,” Perry said in the video on the Texas Sports Betting Alliance website.