On Tuesday, McIngvale placed a $2 million wager on the Astros at 10-1 with Caesars Sportsbook by William Hill in Indiana.
Now he will begin to mitigate his $3.35 million risk with a promotional giveaway at his store, Gallery Furniture.
“The Astros have six good pitchers and a lot of great hitters, so we’ll see what happens,” McIngvale told ESPN on Wednesday.
He lost $1 million earlier this year on a bet on the Houston Cougars to win the NCAA men’s basketball tournament, but he won $2.7 million on the Tampa Bay Buccaneers to beat the Kansas City Chiefs in the Super Bowl in February.