Mattress Mack is headed again to the Kentucky Derby, the place he misplaced $5 million in wagers the final two years.
“I haven’t gained the final two occasions, so I feel I’m overdue,” Houston furnishings retailer proprietor Jim “Mattress Mack” McIngvale mentioned.
After dropping $2.6 million final 12 months on Kentucky Derby favourite Epicenter and $2.4 million on 2021 favourite Important High quality, McIngvale plans to make one other seven-figure wager Saturday on the favourite, which as of Friday was Forte.
“I’ll guess $1 million to $1.5 million, at the very least,” he mentioned Friday afternoon. “It will depend on the gross sales.”
The bets would be the newest in a sequence of wagers to scale back danger on furnishings promotions. On this case, prospects who make a purchase order of $3,000 or extra at his Gallery Furnishings shops will get their a refund if the Kentucky Derby favourite wins.
“Furnishings gross sales aren’t as strong as they have been the final couple of years due to the excessive rate of interest,” mentioned McIngvale, 72.
To make sure he bets on the favourite, McIngvale plans to attend till near the three:57 p.m. PT put up time earlier than inserting his wager.
Forte was the 3-1 morning-line favourite, adopted by Tapit Trice at 5-1. However rumors abounded that Forte was going to be scratched from the Triple Crown race after he stumbled Thursday throughout a gallop at Churchill Downs.
On Friday, coach Todd Pletcher mentioned Forte is okay and prepared for the “Run for the Roses.” However McIngvale isn’t positive if his misstep will have an effect on his odds.
“That’s the $64,000 query. Even when he does run, will they go up due to the little scare he had?” McIngvale mentioned. “What I don’t need to do is guess on the horse that’s the second favourite and the favourite wins. Then I’ll lose each methods.
“We’ve simply acquired to concentrate the final couple minutes. Usually, it’s fairly apparent a half hour earlier than the race who’s going to be the favourite.”
Favorites had gained the Kentucky Derby in six of the seven years earlier than McIngvale started his promotions on the race. He gave the impression to be moments away from profitable $12 million on final 12 months’s race as Epicenter led and was dueling down the stretch with Zandon when Wealthy Strike — the longest shot within the discipline at 80-1 — got here charging up the rail for a shocking upset by three-quarters of a size. Epicenter settled for second.
McIngvale, who owns 45 thoroughbreds, additionally misplaced six figures on final 12 months’s race on Smile Pleased, the son of Runhappy, the 2015 champion sprinter owned by Mack.
Coincidentally, Smile Pleased gained the Alysheba Stakes by two lengths Friday at Churchill Downs in a race that additionally featured Wealthy Strike, who completed fifth.
“He destroyed him. That horse (Wealthy Strike) was a one-hit marvel,” McIngvale mentioned. “I’ve acquired an actual good one which’s going to win the Kentucky Derby subsequent 12 months. His identify is Availability. The very best means is availability.”
Contact reporter Todd Dewey at firstname.lastname@example.org. Observe @tdewey33 on Twitter.