"Mattress Mack" loses nearly 10 million dollars on Astros Loss

Oilacris

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Quote from: ChiBitCTy on October 28, 2023, 03:16:25 PM

Quote from: uneng on October 28, 2023, 01:47:42 PM

Quote from: ChiBitCTy on October 26, 2023, 03:39:55 PM

( could you ever bet millions if you had it? )

I think so, why not? Since the essential rule of betting only what you can afford to lose is followed, there aren't any issues... For someone who has millions or billion of dollars, to lose few millions on bets isn't going to prejudice their financial lives considerably. It's just a recoverable sum of money they can make once again after a month or so, therefore it's the determined budget they have to gamble, accepting the possibility of losing it meanwhile, without further prejudice.

I am with you on this. If I had the money, what's a few million when you've got millions of dollars saved up from your career as well as your gambling winnings.

I appreciate everyone else joining in on the discussion. I remember seeing this guy and stories about him when the hated Astros won the World Series and seeing how much money he won. He seems like a grump old man but I guess good for him. Unless he was a sleezy mattress salesman which I guess I doubt.

If you are that someone whose really that lots of money or lets say you are that a multi-millionaire then it wont really be that an issue on spending up money since you do know that you do have
back up funds if ever you would really be losing then it would really be just that normal that you are already that prepared or think up ahead that you could really be able to sustain.
If money wont really be an issue then it would be that normal that y ou would be making multiple bets or something that you would really be sticking on a single team or player no matter what.
We do know that there are indeed bettors on which you would really be that sticking into things no matter what. Sentiments wont really be affecting you and it doesnt matter
if you would really be hated then it your money and its none other business or concern on whatever the things you would really be doing.

ChiBitCTy

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Quote from: uneng on October 28, 2023, 01:47:42 PM

Quote from: ChiBitCTy on October 26, 2023, 03:39:55 PM

( could you ever bet millions if you had it? )

I think so, why not? Since the essential rule of betting only what you can afford to lose is followed, there aren't any issues... For someone who has millions or billion of dollars, to lose few millions on bets isn't going to prejudice their financial lives considerably. It's just a recoverable sum of money they can make once again after a month or so, therefore it's the determined budget they have to gamble, accepting the possibility of losing it meanwhile, without further prejudice.

I am with you on this. If I had the money, what's a few million when you've got millions of dollars saved up from your career as well as your gambling winnings.

I appreciate everyone else joining in on the discussion. I remember seeing this guy and stories about him when the hated Astros won the World Series and seeing how much money he won. He seems like a grump old man but I guess good for him. Unless he was a sleezy mattress salesman which I guess I doubt.

uneng

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Quote from: ChiBitCTy on October 26, 2023, 03:39:55 PM

( could you ever bet millions if you had it? )

I think so, why not? Since the essential rule of betting only what you can afford to lose is followed, there aren't any issues... For someone who has millions or billion of dollars, to lose few millions on bets isn't going to prejudice their financial lives considerably. It's just a recoverable sum of money they can make once again after a month or so, therefore it's the determined budget they have to gamble, accepting the possibility of losing it meanwhile, without further prejudice.

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Quote from: ChiBitCTy on October 26, 2023, 03:39:55 PM

Most of you probably aren't familiar with this man, but he's pretty popular here in the United States, known for making monster bets on his favorite baseball team, the Houston Astros ( also the most hated team in America being that they were caught cheating during their World Series win a few years back).

I saw a video of someone giving him shit and him stacking "fuck you, fuck you" left and right back at the man. This guy seems to lose his cool quite a bit. He seems like an old fart but if you look up his history, he's bet millions upon millions of dollars, both winning and losing TONS of money.

Here's the recent bet/story ( could you ever bet millions if you had it? )
https://www.cbssports.com/mlb/news/jim-mattress-mack-mcingvale-lost-at-least-7-9-million-on-astros-world-series-bets/

I think this is ridiculous!
Okay, we all have our favorite teams or players and we bet on them against all odds, but spending a fortune on that is something I can't understand.

And the problem is much more serious than just the fact that he is crazy, but also because he encourages other people to go down this path... because as is customary, Mattress Mack once again invited its customers to bet with he. In a promotion on his furniture chain, the Texan announced that purchases over US$3,000 would be free with the Astros title. In other words, many people believed in Mattress Mack's dream and are now lamenting yet another elimination for the Astros with him.

maydna

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Even if we know for sure about the match and the team that will win, it is still not worth betting a lot of money, especially if we have a lot, it is still not recommended. But very rich people easily place bets with big money, and they don't think anything about it because they will support their favorite team by betting with that big money. Even though they lose, they still have a lot of money, which differentiates them from us, who don't have a lot of money. It is never advisable to place bets on large amounts of money unless the person can accept the risk.

Yatsan

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Quote from: famososMuertos on October 27, 2023, 11:08:28 PM

The point is that he makes a mix of risk and fanaticism, a very volatile mix, but it works for him, and this works for him because he has the money and the knowledge, the bet on the Astros was not so crazy, despite being a fan .

As for the classic question, would I make the bet, the amount does not have to represent my fanaticism but rather the ability to do it within of my bankroll, then, as read in some posts above, the guy bet 10% of yours winnings, okay, I mean, in the equivalent, I would bet that % of my bankroll, if it is $100 or $10 million it is already a question of the size of the bet, and obviously sometimes seeing millions for the average mortal can be a lot but these guys live within those limits.

If they bet an amount outside their risk tolerance then they are foolish from doing so. If we would be asked whether we’d do the same thing and we happened to not have that much of money then the answer should be obvious, a big NO. But if I’m rich as him or Drake or others who bets huge
, then I’d probably do. Drake for example have lost some of his big bets but for sure he earned huge as well with his other huge bets. And they are simply aware of it, no need to worry. This scenario is just a simple representation of why we shouldn’t bet an amount we cannot afford losing, no matter how sure we are.

FanEagle

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I would say I could bet millions if I had billions, so it depends on how much money you have. There are some people who are so interested in betting and gambling that they could have like 10-*20 million dollars and bet 2-3 million dollars of it, they like to live on the edge and I am not one of those people. You can be rich or you can be poor, always have a savings account on the side, like your investment and 1% of your investment for gambling is a fine level, 1% per month is not that bad and you could just do that.

This means if you have 5k dollars saved aside, then betting 50 dollars a month is not bad, it would not end that quickly and you would probably make it back. If you have 50 million dollars then betting 500k is not that bad, and by this logic, if I have 1 billion dollars then yeah 10 million dollars for a single bet could make sense, I have 1 billion after all but there are very few people who have that much money so it's unlikely for sure.

redsun114

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Quote from: darkangel11 on October 26, 2023, 04:02:14 PM

McIngvale won a record $75 million when the Astros won the World Series in 2022. If the Astros would've repeated as World Series champions, he would've won an estimated $118 million over the last two years.

It's not like he's going to suffer from a 10 million loss... only that it wasn't 10 million, like you're saying but 7.9 according to the article. 8 million and 10 million is already a big difference, but forgetting to mention that he bet only close to 10% of his wins from last year is a crime.

The guy is clearly a winner that doesn't want to stop as long as he's ahead. Would you stop betting if you had 75 million in the bank? I'd probably keep going up until the last 5 because 5 would be enough for me to never be poor again and the rest is just fun - easy come easy go.

He probably has more money than that since he must have been doing this for quite some time, and he must have won or owned more money before even winning that sum. However, that doesn't change the fact that 8 million dollars isn't a small amount even if you have a hundred million in the bank. I'm sure he is pretty confident with his bets and that's why he uses such amounts as he knows that even if he loses one, he will recover the loss in the next big bet.

If I had 75 million dollars in the bank I would diversify my bets and earn more money, I know that I won't be winning with the same team or the same sport all the time, so doing a bit of research would give me enough ideas about which sports and which matches I would make my bets so that I can at least get some profit every time I do that.

famososMuertos

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The point is that he makes a mix of risk and fanaticism, a very volatile mix, but it works for him, and this works for him because he has the money and the knowledge, the bet on the Astros was not so crazy, despite being a fan .

As for the classic question, would I make the bet, the amount does not have to represent my fanaticism but rather the ability to do it within of my bankroll, then, as read in some posts above, the guy bet 10% of yours winnings, okay, I mean, in the equivalent, I would bet that % of my bankroll, if it is $100 or $10 million it is already a question of the size of the bet, and obviously sometimes seeing millions for the average mortal can be a lot but these guys live within those limits.

Wiwo

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Quote from: UmerIdrees on October 27, 2023, 11:47:13 AM

Quote from: Wiwo on October 26, 2023, 04:26:21 PM

Edit

Well, I think that person was not jealous of the "Mattress Mack" as mostly we feel jealous of our friends or anyone close to us (Whom we know personally). We do not feel jealous of the famous personalities around us, or do we?

I think in this case, the man was frustrated because he himself had lost the bets and seeing a successful gambler near him, he just showed his frustration and nothing else. Instead of criticising him, we should feel pity for him and need to know the hard facts of his life due to which he reached this situation. He must be in desperation in life, we never know.

at this point, criticism is no longer necessary thos is so because the did have already been done and at that, and the only thing we can learn from this situation is the lesson as not to go all in on a bet, no matter who the team or players are, and we should only gamble with what we can afford to lose and be fine with without a pressure on our mental well being for a long time.

First, we have to acknowledge the fact that gamblers are in different classes and a small amount that gambler A consider as nothing may be a big amount for gambler mr B so we have to accept this fact at all time in between and never get confused by any form of attempts.

coolcoinz

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He's just a high roller and the article makes a big deal out of his loss for no reason.
Yes' losing 10 million might look like a big deal if you take it out of context.
What if I told you that the person who lost that 10million was the king of Saudi Arabia?
10 million might be a big deal but to someone like this guy who constantly bets a lot of money and wins a lot too it's just another day.

UmerIdrees

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Quote from: Wiwo on October 26, 2023, 04:26:21 PM

no one should feel jealous since you don't know what they have been through before arriving at such winning, anyways mattress Mack is a big name in the casino with his total wager amount and being one of those that have experienced big winning and also hard a bitter tests of the big loses also just like in this case, it makes more sense then not to follow his pattern since not everyone will have the chance and luxury of time and money stake such high risk.

Well, I think that person was not jealous of the "Mattress Mack" as mostly we feel jealous of our friends or anyone close to us (Whom we know personally). We do not feel jealous of the famous personalities around us, or do we?

I think in this case, the man was frustrated because he himself had lost the bets and seeing a successful gambler near him, he just showed his frustration and nothing else. Instead of criticising him, we should feel pity for him and need to know the hard facts of his life due to which he reached this situation. He must be in desperation in life, we never know.

freedomgo

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Quote from: Saisher on October 27, 2023, 10:13:44 AM

Imagine losing $10 million dollars that's 56 times our money here in our country and you can live happily ever after and even your sons and great grand sons with that money, but money for high rollers in first-world countries is really peanut, do they even know that amount if they happen to visit countries in Asia and the cost to live in these countries.

We can't really compare our lives to his. He's a millionaire, which allows him to take the risk of betting millions of dollars. The money he uses for gambling is solely for that purpose, and while we might feel envious, it's his world of high-stakes betting. He's playing with the big cards, and I'm sure he can comfortably handle any losses.

For us, it's a different story. We don't have that kind of money to wager, but we can still experience the thrill of betting by staying within our own betting range.

Saisher

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Quote from: TimeTeller on October 26, 2023, 07:22:48 PM

If you are talking about high rollers, such amount is no big deal for them.
It may be our lifetime's savings but for them, it is just a loose change that they can play with.
So they have no qualms if they lost these million-dollars today and win the next day.
But on this note, regular gambler should not imitate their lifestyle because you can go broke in one bet ruining your life as well as your family.

For us regular gamblers it's hard to comprehend, the amount of money these high rollers are spending on betting, they can just bet and lose millions and move on easily whereas for me I have a hard time moving on losing hundreds of dollars.

Imagine losing $10 million dollars that's 56 times our money here in our country and you can live happily ever after and even your sons and great grand sons with that money, but money for high rollers in first-world countries is really peanut, do they even know that amount if they happen to visit countries in Asia and the cost to live in these countries.

Distinctin

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I'm not familiar with this individual, but I'm definitely interested in reading more about his story. When we're talking about millions of dollars, it's a clear sign that this man is among the sharks in the world of sports betting. What really stands out to me, based on the link you shared, is...

https://www.cbssports.com/mlb/news/jim-mattress-mack-mcingvale-lost-at-least-7-9-million-on-astros-world-series-bets/

Quote

Jim 'Mattress Mack' McIngvale lost at least $7.9 million after Astros fail to reach 2023 World Series

McIngvale would've won almost $51 million if the Astros had won it all

I'm quite impressed with his bet, especially considering the potential $51 million win if it had been lucky. This guy seems to have a good understanding of what he's doing, and he's likely playing with a calculated risk. Given his age, he probably has some substantial experience in gambling, or he might have faced bankruptcy when he was younger.

swogerino

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Anyone is free to bet whatever amounts he wants on whatever team he wants and if sport books or lotto clubs accepted his huge bets for the Houston Astros baseball team then it is just normal if he loses and wins like most of us do,what is not normal for most of us is the amount of money he bets.

This boils down to one simple fact though,as long as he bet these huge amounts it means that he has a lot of money and he is free to do whatever he likes with his money,if he lost 10 million dollars it means he does not care much about money as it appears he has always had them.

coin-investor

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That's total dedication to a team there are risks and advantages to doing that, not good for a gambler whose plan is to make money, I don't think even if I am very wealthy I will invest or bet on one team's rise and fall, if you're a bettor your interest should be your concern first, it's still ok to support your team and bet for the other team if you think that there's no way that the team you're supporting will win.

Gamblers should know how to divide the line between loyalty and making money, money can magnify his character, in the case of Mattress Mack he just shows his willingness to support a team with huge bets, I don't think he can do that all the way all the time, but we'll see how he will bet next year.

Negotiation

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We wouldn't bet that much because the stakes are too high I think he has a lot of money so after losing that amount it won't affect them. It is not possible for ordinary gamblers to bet with so much money and they will not waste so much money on betting. Gamblers are terrified with investigation of the final execution or quality management. It is wise to be very strict on these models of bets and I always stay at the same degree thus reducing the risk of throwing away all the money after some black and in addition it is easier to maintain the monitor income.

ethereumhunter

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I couldn't bet millions if I had it. I can't face losing that much money so I would never bet millions. I still prefer to bet with small amounts of money because I don't want to lose large amounts of money. And if a very rich person bets a lot of money, that's fine because they've already estimated the risk and can accept it if they lose the bet. He is a rich person and dares to bet a lot of money where perhaps only a few people are as brave as him. But this is not recommended for people who don't have a lot of money, let alone borrowing money to bet.

CryptSafe

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Anyone making a bet of such an amount should be well to do because it is generally known that a gambler should bet with cash they can afford to lose if the odds are not in their favour. So if he had lost it in the contest then there should be nothing to worry about since he can afford to lose such an amount of money on his side. As a matter of fact, he has won several times so this should not make him get disturbed but for the fact that their fake manipulation has been bursted there I think is the reasons for his reactions though, just guessing and not a conclusion to that effect.

Topic: "Mattress Mack" loses nearly 10 million dollars on Astros Loss (Read 260 times)