Mattress Mack Says He Will Bet $3-4M on 2021 Kentucky Derby Favorite

Jim McIngvale has suffered some notable failures while wagering on major sporting events, but that isn't stopping "Mattress Mack" from placing a seven-figure bet on this year's Kentucky Derby.

The 70-year-old revealed Monday he's planning to put between $3 million and $4 million on the betting favorite:

McIngvale lost around $13 million when the Houston Astros fell to the Washington Nationals in the 2019 World Series. He also watched Houston exit the 2021 NCAA men's basketball tournament in the Final Four after betting $1 million on the Cougars to win it all.

"Mattress Mack" did have something to celebrate in February, though, when his nearly $3.5 million bet on the Tampa Bay Buccaneers to beat the Kansas City Chiefs in Super Bowl LV paid out.

Looking ahead to Saturday, McIngvale will likely be looking for Essential Quality to come out victorious. The Blue Grass Stakes winner is the 3-1 favorite on Vegas Insider.