Super Bowl Promotion Costs Furniture Store $600,000

By CBS News

Published 01/24 2014 08:11AM

Updated 01/24 2014 08:15AM

HOUSTON, Texas -- Mattress Mack of Houston's "Gallery Furniture" is known for his energized television commercials.
But his attempt to capitalize on the NFL Division Championships has proven very costly.

It was a no-brainer to visit Mattress Mack.

After Troy Moreland saw the commercial, "We were not planning on buying furniture from gallery furniture until we saw that."

The 4-day offer was to spend at least $5,000 on furniture and if you correctly guessed the two winning teams headed to the Superbowl-- 
you get all your money back.

Troy got it right!  "I literally ran out the door screaming that we won because all of our neighbors knew we were doing it."

It turned out, there were more than a hundred winners-- and Jim McIngvale-- known as Mattress Mack--is now refunding $600,000.

"I took a deep breath and gulped in my throat, admits McIngvale. "$600,000 of free furniture to our customers.  How do we make these sour lemons into lemonade."

The legendary furniture seller says he and a few sales people came up with the idea--but admits he never imagined so many would get it right.

"And 80 percent of the customers were smart and picked the right teams.  I was not only surprised, I was shocked.  But after I got over it, I realized we made a lot of customers very happy."

At least one of those happy customers lives in Cypress, Texas.  Troy is getting a $12,000 refund.
"So that is by far the largest gambling bet  by far. It was nuts."

Speaking of nuts--we asked Mattress Mack if he learned a lesson from this very expensive promotion.
Reporter: "Will you do that again?"  "We're thinking about doing it for the big game but haven't decided yet"

Update:  Mattress Mack is at it again! Customers who buy $6,000 of furniture before the Super Bowl will get a refund if Seattle wins the game.

(Tiffany Craig, KHOU for CBS Newspath)

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