A Furniture Store Offered $7 Million in Refunds if the Broncos Lost
I like a good, friendly sports bet among friends, but I never bet money...for GOOD reason! Last month, a store in Houston called Gallery Furniture lost $685,000 on a promotion where customers could win FREE FURNITURE if they correctly guessed the winners of the AFC and NFC championship games.
After that, owner Jim McIngvale said he was done with promotional contests. But apparently he changed his mind . . . because he decided to offer an even crazier deal.
Jim chose the Broncos to win the Super Bowl by flipping a coin. Then he promised that if the Broncos lost, he'd issue full refunds to anyone who bought more than $6,000 worth of furniture, and you'd still get to KEEP the furniture.
According to the Houston Chronicle, about a THOUSAND people took him up on the offer, and of course the Broncos DID lose . . . which is going to cost him about $7 MILLION. And he didn't buy an insurance policy on the contest, so it's all coming out of his own pocket.
Jim is trying to PRETEND it doesn't bother him though, saying he's happy for the publicity and that, quote, "In the long term, we made a lot of happy customers. That's what it's all about. Building customers for life."