Feb 2, 2014 at 11.30pm UK at ​MetLife Stadium
Seattle Seahawks
Denver Broncos
Lynch (12:08), Smith (3:36)
Harvin (15:00), Kearse (2:58)
Thomas (0:03)
Baldwin (11:45)

Shop owner loses $7m on Super Bowl

A furniture shop owner loses $7m (£4.3m) on the Super Bowl after offering to give customers their money back if the Seattle Seahawks won.

A furniture shop owner lost $7m (£4.3m) as a result of the Seattle Seahawks winning the Super Bowl against the Denver Broncos on Sunday.

Jim McIngvale, who is the CEO of Houston-based Gallery Furniture, offered his customers their money back on whatever they bought should the Seahawks beat the Broncos.

McIngvale flipped a coin to decide which team to offer the promotion for, coming up with the result that the shop would support the Broncos while the customers would be rooting for the Seahawks.

Customers were obliged to spend more than $6,000 (£3,684) and have their furniture delivered by kickoff to be eligible for a refund.

McIngvale revealed that he gambled on not taking out insurance on the promotion, a decision that backfired with roughly 1,000 people racking up an average bill of around $7,000 (£4,300) each, while one lucky customer is due for a $30,000 (£18,420) refund.

However, despite the significant loss, McIngvale is confident that the promotion will prove worthwhile eventually.

"Doing a promotion like this creates affinity, creates trust with the customer, makes you relevant," he is quoted as saying by ESPN.

"We already have people sending us videos of them jumping up and down celebrating, so I have no doubt that what we will lose is already worth it to our business."

The Seahawks won the match comfortably, thrashing the Broncos 43-8 at the MetLife Stadium.

MetLife Stadium is shown after the Seattle Seahawks won Super Bowl XLVIII at MetLife Stadium on February 2, 2014
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