$3.5 Million Bet on Astros Is Hedge Against Promotion

Scott Soshnick, Eben Novy-Williams and Michael Barr discuss a host of issues related to the business of sports, including a Houston furniture store owner's $3.5 million bet on the Astros to win the World Series. Jim McIngvale, aka ``Mattress Mack,'' placed the bet as a hedge against a promotion he previously ran in the store that calls for customers to get refunds on purchases of $3,000 or more if the Astros win baseball's championship. The bet would net McIngvale $7.7 million. Also discussed is Nike Chief Executive Officer Mark Parker firing back against a ruling that a company-backed running coach doped athletes as part of a Nike program. In a memo to staff Parker said the experiments with performance-enhancing drugs were meant to prevent doping. Also talked about is Flutter Entertainment's purchase of The Stars Group, creating a betting behemoth. The deal values Stars at about $6 billion. Flutter was formerly known as Paddy Power. 

Hosts: Scott Soshnick, Eben Novy-Williams and Michael Barr

Producer: Tim Herro

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