Businessman Jim 'Mattress Mack' McIngvale places $5 million bet on Bengals to win Super Bowl LVI

Jim "Mattress Mack" McIngvale sold so much furniture in a week that he could afford to place another giant Super Bowl bet -- $5 million on the Cincinnati Bengals to beat the Los Angeles Rams.

McIngvale, who owns Gallery Furniture in Houston, Texas, drove across the border to Louisiana early Friday morning, pulled over at a rest stop and placed the $5 million bet on Caesars Sportsbook's mobile app at +170 odds. McIngvale is running a promotion at his store, offering to refund any purchases of $3,000 or more if the underdog Bengals win Super Bowl LVI. He's using his giant bets to mitigate risk from the giveaway.

Last week, McIngvale placed a $4.5 million money-line bet on the Bengals with Caesars Sportsbook in Louisiana.

"Well, I sold through the profit on the first investment," McIngvale told ESPN on Friday, his 71st birthday. "So I had to make another."

McIngvale now has wagered $9.5 million for a chance to win a net $16.2 million if the Bengals win the Super Bowl on Sunday. Cincinnati is a consensus 4-point underdog to the Rams.

"I figure it's more of a toss-up," McIngvale said. "It could come down to a final field goal, like a lot of these exciting playoff games."

Caesars Sportsbook says the $5 million Bengals bet is the largest single wager the company has taken, eclipsing a $4.9 million bet on the heavily favored St. Louis Rams to beat the New England Patriots in Super Bowl XXXVI.

"Caesar -- at least for the moment -- is a Rams fan," Ken Fuchs, head of Caesars Sportsbook, said in a news release.

Even with McIngvale's $9.5 million on the Bengals, Caesars had attracted slightly more money on the Rams to win the game straight up. As of Friday morning, 74% of the money-line bets were on the Bengals, while 52% of the total amount wagered was on the Rams.

Other seven-figure wagers have begun to show up on the Super Bowl as well. DraftKings on Thursday reported taking a $1 million two-leg parlay on the Bengals money line +170 and under 48.5. The parlay, which was placed at the Casino Queen in Illinois, has a potential net win of $4.15 million.