'Mattress Mack' to win up to $35 million if University of Houston wins NCAA Tournament

He has about $3.5 million riding on his hometown team, the University of Houston Cougars, to win the national championship in front of a very supportive home crowd at NRG Stadium.

HOUSTON (KIAH) — March Madness is here, and that means it's time to ask, “How much money does Jim 'Mattress Mack' McIngvale have riding on the NCAA Tournament this year?”

Well, he has about $3.5 million riding on his hometown team, the University of Houston Cougars, to win the national championship in front of a very supportive home crowd at NRG Stadium.

On Thursday night, top-seeded Houston shook off Northern Kentucky for a 63-52 victory to open the NCAA Tournament. All-American Marcus Sasser watched from the bench after re-aggravating a groin injury he suffered in the American Athletic Conference Tournament.

As usual, McIngvale has promised to share his winnings with his customers at his furniture stores in Houston. All customers have to do is buy $3,000 (or more) in merchandise from his store by a certain date, and they can get it for free if the Cougars go through the NCAA Tournament and win the national championship game on Monday, April 3.

Personally, Mattress Mack can win up to $35 million if Houston wins the national title. He made his $1 million bets at three sportsbooks, including one at Caesars Sportsbook at the Horseshoe Casino in Lake Charles, Louisiana.

McIngvale also made $500,000 bets at BetMGM and Barstool Sportsbook.

Ever since McIngvale made his record-setting $75 million win when the Houston Astros won the World Series last year, Mattress Mack has suffered betting losses of about $7 million, losing bets on the Dallas Cowboys in the NFL playoffs and the TCU Horned Frogs in the College Football Playoff National Championship Game.

But Mattress Mack has had past success with the NCAA Tournament, winning last year with Kansas over North Carolina.