Jim ‘Mattress Mack’ McIngvale, took centre stage at the SBC North America Summit, as he revealed how integrating sports betting into the Gallery Furniture offering bolsters how they get ahead of the retail competition.
McIngvale’s strategy involves placing an enormous bet on one team and offering the customers who made purchases from his stores during the promotion period a full refund if his bet wins. The best part about Mattress Mack’s strategy is that losing a bet is not the worst-case scenario.
A loss means he does not have to refund his customers, who typically spend millions of dollars during the promotion period at his Gallery Furniture stores.
He also revealed that the idea came from his days golfing, where his course would offer a cash prize for a hole in one.
The entrepreneur also holds the record for what’s believed to be the largest legal sports bet in history, placing $5 million on the Cincinnati Bengals to beat the Los Angeles Rams in the Super Bowl earlier this year.
Integrating sports betting incentives into the customer journey is something that Mac noted brings in a younger audience, as well as embedding the brand into the community.
The charismatic keynote speaker also outlined the importance of the charitable causes the group gives back to, as it continues to be key within the community.
Mirroring the ethos of many sports betting operators, Mac emphasised that at the heart of his focus is providing an enjoyable customer experience, which betting plays a key part of.