One furniture store owner's Super Bowl bet is costing him $7 million worth of business after he guaranteed refunds to customers if the Seahawks won this past Sunday's championship game.

Jim McIngvale is the CEO of the Houston, Texas-based Gallery Furniture.  McIngvale promised customers a refund on any purchases of $6,000 or more if the Seattle Seahawks pulled off a win over the Denver Broncos in Super Bowl XLVIII, CBSSports.com reports.

McIngvale, like most of the nation, was likely stunned when the Seahawks did just THAT, defeating the Broncos by a score of 43-8.

And now McIngavle is getting blown out worse than Peyton Manning, forced to refund $7 million worth of profit back to customers.

McIngvale also declined to take out any extra insurance on the promotion, so all the refunds will go against Gallery Furniture's bottom line.

More From SoJO 104.9 FM