A Houston Furniture Store Owner Did A Brilliant Super Bowl Promotion That Cost Him $7 Million

A Houston furniture store owner has lost $7 million in a Super Bowl bet with customers.

Jim "Mattress Mack" McIngvale promised that if the Seattle Seahawks won, he would provide full refunds to customers who purchased more than $6,000 in furniture during the two weeks leading up to the game, ABC News reported.

After the Denver Broncos lost Sunday, McIngvale announced on the "Gallery Furniture" store's website that he would honor his promise.

"The accountant is pulling his hair out this morning, but the customers are happy and that's what's most important," McIngvale told ABC News.

He says he's convinced that the promotion will pay off in the long run, despite his massive loss.

"It worked for making the customer say, 'This guy does what he says he's going to do,'" McIngvale said.

More than 1,000 customers took advantage of the promotion and will receive an average $7,000 in refunds during a celebratory party at the store on Feb. 17.