Mattress Mack loses $7 million in Pigskin Promotion Super Bowl bet

Gallery Furniture owner Jim “Mattress Mack” McIngvale is set to lose $7 million after promising a full refund to customers if the Seahawks beat Broncos in Sunday’s Super Bowl.

The Seahawks duly won the game 43 to 8, which means about 1,000 customers will now get their orders for free.

Jim McIngvale is well-known for his attention-grabbing ploys.

Though substantial, the loss amounts to only 6% of Jim McIngvale’s annual income. He says it is good marketing.

Mattress Mack ran the Super Bowl promotion for 10 days at his two Gallery Furniture stores.

To win, customers had to purchase at least $6,000-worth of furniture and have it delivered before kickoff on Sunday.

The average customer who was eligible for the refund deal bought around $7,000 worth of furniture.

Jim McIngvale is philosophical about the loss and says his business is getting priceless media coverage.

It is not the first time Mattress Mack has pulled this kind of stunt.

Earlier this year, he refunded almost $700,000 to customers who bet correctly on the Super Bowl playoff victors.

In December, Mattress Mack was honoured by President George H. W, Bush for his anti-drugs campaigning, and he regularly gives talks to young people in Houston about his experience with addiction.

The Super Bowl was the most-watched television event in US history with 111.5 million, the Fox TV network has said.