McIngvale, a regular participant in the world of sports gambling, placed a $4.5 million wager for the Cincinnati Bengals to win the Super Bowl last week.
McIngvale initially placed his wager when the Bengals covered the spread for the contest, but the furniture owner placed a bet for the team to actually win the contest instead of covering the spread.
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The Bengals, led by star quarterback Joe Burrow and wide receiver Ja’Marr Chase, were 4.5-point underdogs in their big game against the Los Angeles Rams, according to Chron.com
Gallery Furniture customers who purchased a mattress set or reclining furniture priced at $3,000 or more would’ve received their money back if Cincinnati won the contest.
If the Bengals won the game, McIngvale would have won more than $7.7 million in earnings, Chron.com reported.
The Bengals lost to the Rams, 23-20, on Sunday night. Rams wide receiver Cooper Kupp scored two touchdowns to earn the game’s Most Valuable Player award.
Throughout this year, McIngvale has lost $15.4 million on sports gambling, losing wagers on NFL playoff match-ups and the college football national championship game.
McIngvale won a $3.46 million best last year when he correctly wagered that the Tampa Bay Buccaneers would defeat the Kansas City Chiefs in Super Bowl LV, Chron.com reported.