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Houston business lost $7 million bet with customers

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The best thing is, Mattress Mack might not have lost this bet, but Floyd Mayweather lost his $10.4 million dollar bet on Denver.
 
Texashiker said:
Mattress Mack has a reputation of doing stuff like this.

A few years ago he donated something like $500K of his own money to the salvation army.

Mack has a disabled child. If I remember right he has made various high dollar donations to research groups?
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:thumbsup:
 
SP33Demon said:
Even with insurance he still didn't make money.
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I'm sure the city/state/nation-wide exposure won't do anything for his sales in the coming months.

My point is that he isn't hurting for money. He'll EASILY recoup his losses due in part to all of this free publicity.
 
JM Aggie08 said:
I'm sure the city/state/nation-wide exposure won't do anything for his sales in the coming months.

My point is that he isn't hurting for money. He'll EASILY recoup his losses due in part to all of this free publicity.
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That's true. Never thought about that factor. Lose 7 million here, regain it because it made national news.
 
circusslaughter said:
That's true. Never thought about that factor. Lose 7 million here, regain it because it made national news.
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Even without insurance, he didn't lose $7 million. He is only out the cost of his inventory (which is less than $3.5 million). The average cost of a single, 30 second commercial for the Super Bowl is more than that. This, even without insurance, could easily be written off as amazing advertising.
 
smackababy said:
Even without insurance, he didn't lose $7 million. He is only out the cost of his inventory (which is less than $3.5 million). The average cost of a single, 30 second commercial for the Super Bowl is more than that. This, even without insurance, could easily be written off as amazing advertising.
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Wasn't the cost for a commercial a million dollas this year? Read that somewhere...
 
JM Aggie08 said:
I'm sure the city/state/nation-wide exposure won't do anything for his sales in the coming months.

My point is that he isn't hurting for money. He'll EASILY recoup his losses due in part to all of this free publicity.
Click to expand...

While that may be true (publicity could ramp up future sales), he still didn't make any money on the deal directly. Not sure what is so hard to understand about that.
 
SP33Demon said:
While that may be true (publicity could ramp up future sales), he still didn't make any money on the deal directly. Not sure what is so hard to understand about that.
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While he might not have made money, chances are he lost very little. And since there aren't any threads about commercials that paid $4 million a slot, I think he did a decent job with that advertising costs.
 
Even if he wasn't insured he isn't out 7 mil just the cost of the furniture which knowing the mark up on furnitre is probably about 700k.
 
SP33Demon said:
While that may be true (publicity could ramp up future sales), he still didn't make any money on the deal directly. Not sure what is so hard to understand about that.
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Nowhere in this thread did I mention that he made money off the stunt directly.
 
It wouldn't have mattered if Mattress Mac had insurance or not, the dude has enough of his own money to cover it. The guy is an icon here in Houston.
 
no insurance.

going by the money line, seattle was +115. so to get $100 back in case seattle won, he'd have had to risk $86.96. if his cost of furniture was $2 million, his wager would have needed to be $1.74 million to cover that. so he'd pay $1.74 million to avoid a $2 million loss that would only be incurred if the seahawks won. not really worth it. insurance wouldn't be appreciably different, i would guess.
 
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