Tim White

Big Bet….goes bad
Big Bet….goes bad

Jim “Mattress Mack” McIngvale, the CEO of Houston-based Gallery Furniture, lost $7 million on a promotion that promised to give customers who shopped at his stores their money back if the Seattle Seahawks won Sunday.

But the self-described gambler, whose stores have been in business for 32 years, says he’s thrilled: “We already have people sending us videos of them jumping up and down celebrating, so I have no doubt that what we will lose is already worth it to our business.”

Gallery Furniture will provide full refunds to anyone who spent $6,000 or more at the store in the two weeks leading up to the Super Bowl.