A furniture store Super Bowl bet in Houston resulted in the company's owner losing millions of dollars, but he stuck to his word.
Jim “Mattress Mack” McIngvale lost $7 million after the Seahawks won against the Broncos, ABC News reported Feb.3. McIngvale vowed to give customers a full refund who spent $6,000 or more at Gallery Furniture two weeks prior to the NFL game and had orders scheduled to deliver by 5 p.m. on Sunday.
The furniture store Super Bowl bet was just as valid at the end of the game as it was beforehand. On Sunday, the store's website read, “Customers Win $7,000,000.”
“The accountant is pulling his hair out this morning, but the customers are happy and that’s what’s most important,” McIngvale said.
McIngvale's accountant could not believe he went through with such a risky bet, but McIngvale has faith this will pay off over time.
“It worked for making the customer say ‘This guy does what he says he’s going to do,’” McIngvale said.
Well over 1,000 customers will get $7,000 in refunds from the store's bet. A party held Feb. 17 will be when everyone gets their refunds.
Clearly Jim McIngvale is a person of his word and he is right that it will pay off over time. People are getting less and less of that in today's world. The furniture store Super Bowl bet might take some time to get money back, but it will prove a good investment overall.