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Posted on 11/6/22 at 10:07 am to The Torch
quote:
He's been doing this for 40+ years, you don't really think he just laid out 75 million do you?
I thought he had placed a 10 mil bet then another 2 mil. Which is still ridiculous to me. I put $25 on LSU.
Posted on 11/6/22 at 10:12 am to HoustonGumbeauxGuy
quote:
All of those Neanderthal, trashy, classless citizens of Philadelphia, can suck a bag of used dildos
Philly.. I hope that disgusting cesspool, filth-ridden city gets burned to the ground by the cockroaches that live in it
Ladies and gentlemen, let's all welcome Bill Burr to the board.
Posted on 11/6/22 at 12:12 pm to Tyga Woods
quote:
That’ll make up some of the $100mm he has lost betting
You just don’t understand that he’s hedging to cover sales promotions.
Posted on 11/6/22 at 12:14 pm to HoustonGumbeauxGuy
Much like New Orleans…….
Posted on 11/6/22 at 12:20 pm to Tyga Woods
quote:
That’ll make up some of the $100mm he has lost betting
His large sports bets are usually tied to sales promotions at his stores. The current one is if you spend $3,000 or more on a mattress, your purchase is free – if the Astros win. He is also offering to double the customer's money. So if the Astros win, a customer that purchased $5,000 worth of furniture will receive $10,000 back. He bet 10 million on this World Series.
Posted on 11/6/22 at 12:37 pm to stout
quote:
Mattress Mack just won $75 Million
I saw on interview he feels that about 25% of those customers will turn around and spend the money they just returned with him. He will probably rake in another $10 million right there. Man is straight money genius and one helluva community citizen.
Posted on 11/6/22 at 12:38 pm to headedwest21
I'm writing him in for mayor next time. Savvy, loveable, smart. Can't do better than that.
Posted on 11/6/22 at 12:42 pm to BawtHouse
Exactly - he offsets his bet cost with the promo sales. He pays for the promo when he wins the bet. He’s going to make a profit, but it will not be anything outside of his normal margin. Like getting Vegas casinos to buy you a mattress.
Dude drives an old suburban to work and drinks black coffee every morning. He spends almost 4 hrs/day calling customers to make sure his people delivered on their commitments. He’s an astute business man that still spends time on the showroom floor. Hell, he spoke about success and American values at my elementary school in 1993. He provides to families in need and raises money for veteran charities. The world needs more men like Mattress Mack.
Dude drives an old suburban to work and drinks black coffee every morning. He spends almost 4 hrs/day calling customers to make sure his people delivered on their commitments. He’s an astute business man that still spends time on the showroom floor. Hell, he spoke about success and American values at my elementary school in 1993. He provides to families in need and raises money for veteran charities. The world needs more men like Mattress Mack.
Posted on 11/6/22 at 1:15 pm to greygoose
quote:
Genius! He starts a promotion and tells people if they buy furniture between certain dates, and Team X wins the championship, the customer gets a refund on their furniture. Think about it, if you are in the market to buy furniture, why would you buy it anywhere else? There's a chance you could get it for free. Probably marks up the price higher too. If Team X losses, he still drummed up a shitload of business over 6 months. If they win, he collects on the bets he placed and refunds the customers. I bet all the furniture stores within 100 miles of him, hates his guts!
He’s very up front about what he’s doing each and every time. It not a trick to anybody. The man has a crap ton of good will and a cult following due to his philanthropy in Houston.
I’m hoping that good will gets Hidalgo out of office.
This post was edited on 11/6/22 at 1:22 pm
Posted on 11/6/22 at 3:35 pm to 3nOut
Good man. Nephew worked for him 25 years ago.
If you do not know, the markup / profit on furniture everywhere is outrageous so he also profits there.
If you do not know, the markup / profit on furniture everywhere is outrageous so he also profits there.
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