In a disappointing turn of events for renowned furniture salesman and sports bettor Jim “Mattress Mack” McIngvale, his $1 million wager on the Texas Longhorns to win the national championship fell short as they were defeated by the Washington Huskies in the Sugar Bowl. McIngvale, known for putting his money where his mouth is when it comes to Texas sports teams, had hoped that the Longhorns would make it to the championship game, which will be held in Houston's NRG Stadium.

McIngvale, who is also a passionate supporter of the Houston Astros, likely saw the potential for a big payout and an opportunity to support his beloved Longhorns by placing the bet. He drove to Louisiana to make the bet on his phone, expressing his enormous passion for UT football to FOX Sports.

The Longhorns, seeking their first football championship game appearance since 2009 when Vince Young led them to victory in the BCS National Championship, fell short in their comeback attempt against the Huskies. If Texas had pulled off the win, McIngvale's bet at +270 odds at Caesars Sportsbook would have resulted in a substantial $2.7 million profit. If the Longhorns had gone on to win the championship game, McIngvale would have received an estimated total payout of $3.7 million.

However, this loss is not the first for McIngvale in his sports betting career. According to The Action Network, he has lost approximately $10.25 million in sports wagers over the past three years. In 2022, he placed a significant bet on Alabama to defeat Georgia in the national title game, resulting in a loss of over $6 million when the Crimson Tide fell short. The following year, he bet $3.1 million on an upset by TCU against Georgia, only to see Georgia claim a blowout victory and a second consecutive championship.

While McIngvale has experienced some massive wins in his sports betting career, such as collecting an unprecedented $75 million in winnings when the Astros won the 2022 World Series, his recent losses have been significant. In 2023, he lost $7.9 million on the Astros, who were defeated by the Rangers in Game 7 of the ALCS, and also lost bets on the Houston Cougars in the NCAA Tournament.

Despite these setbacks, McIngvale remains a prominent figure in the sports betting world. His latest loss comes as Washington advances to the College Football Playoff National Championship game against Michigan on January 8. The Huskies, led by star quarterback Michael Penix Jr., who threw for 430 yards and two touchdowns in their victory over Texas, will play their final game as a member of the Pac-12 Conference before moving to another conference.

For McIngvale, this loss serves as a reminder that sports betting can be unpredictable, even for experienced bettors. As he continues to place high-stakes bets, he will undoubtedly be seeking redemption in future wagers.