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Furniture dealer out $7 million after uninsured Super Bowl bet

By Mary Beth Breckenridge Published: February 3, 2014

If Jim McIngvale ever invites you to play poker, say yes.

McIngvale, a Houston furiture dealer, is out an estimated $7 million after what most people would consider an ill-advised Super Bowl bet.

The co-owner of Gallery Furniture had announced a couple of weeks ago that if the Seattle Seahawks won the Super Bowl, he would refund the money of customers who spent at least $6,000 at the store before the game, Furniture Today reported today.

It's not unusual for retailers to make those kids of offers, but typically they buy insurance to cover the potential loss. McIngvale did not, Furniture Today said. 

Oops.

The payout comes on the heels of another McIngvale made during the NFL playoffs. He refunded $685,000 to customers who correctly guessed the Seahawks and Denver Broncos would make it to the Super Bowl.

McIngvale didn’t seem to be regretting those moves, though.

"One of the things [the furniture industry] is missing is buzz," he told Furniture Today. "We've got the buzz, baby."

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