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Man Loses $2.4 Million Betting on Kentucky Derby Favorite Essential Quality

Man Loses $2.4 Million Betting on Kentucky Derby Favorite Essential Quality
On 5/1/21 at 9:17 PM EDT
Jim Mattress Mack McIngvale made history this weekend by betting $2.4 million on one horse at the Kentucky Derby. Then he made history by losing all of it.
McIngvale, a businessman from Houston, wagered nearly two and a half million on Essential Quality, who was the favorite to win the race with 2-to-1 odds. He said earlier this week that he planned on betting up to $4 million at Churchill Downs, with $2 million of that going on Essential Quality.
McIngvale is known in the greater Houston area as Mattress Mack. Sometimes he makes wild wagers on Houston-area teams to win titles. In return, he runs specials at his Gallery Furniture stores that coincide with his bets. If the team he bets on wins their championship, then those who bought a certain amount of money in mattresses will get their purchases refunded. ....

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Texas Man to Drop $4 Million in Largest-Ever Wager at Kentucky Derby

Texas Man to Drop $4 Million in Largest-Ever Wager at Kentucky Derby
On 4/29/21 at 7:12 PM EDT
Jim McIngvale has become notorious in Houston for mixing business and pleasure. His business is selling mattresses, and his guilty pleasure is laying bets on big sporting events. He s taking his pocketbook to Louisville this weekend to place a record bet.
He s known in the greater Houston area as Mattress Mack. Sometimes he makes wild wagers on Houston-area teams to win titles. In return, anyone who buys pricey mattresses at his Gallery Furniture stores get their money back if his home team wins. In 2017, he refunded money because the Astros won the World Series. In 2019, he lost his bet on the Astros but got the revenue from selling furniture. ....

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Kentucky Derby: Infield-only general admission tickets go on sale Wednesday

Last year’s event was moved from May for the first time since 1945 to September and held without spectators due to the coronavirus pandemic ....

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