Mattress Mack Loses $2.4M Betting on Essential Quality at 2021 Kentucky Derby

Mattress Mack is officially on a cold streak.  

Houston, Texas retail magnate Jim "Mattress Mack" McIngvale, increased his initial Kentucky Derby bet on Essential Quality from $500,000 to $2.4 by the time the colt entered the starting gate. 

He wouldn't get any of it back.

The odds-on favorite who closed at 5-2, Essential Quality took fourth place in the 147th Run for the Roses, leaving McIngvale with another massive loss as famed trainer Bob Baffert picked up a record-breaking seventh Derby victory with Medina Spirit. 

Mattress Mack previously wagered $1 million on the Houston Cougars to win the NCAA tournament at 9-1 odds. His hometown university failed to defeat the eventual-champion Baylor Bears in the Final Four. 

McIngvale's last big win came during Super Bowl 55 when he turned a $3.46 million bet on the Tampa Bay Buccaneers into a $2.75 million profit. The mattress salesman typically turns his bets into store promotions, helping cover any losses.

With the NBA and NHL postseasons about to begin, there's plenty of time for him to get back on track and cashing out major paydays once again.