"Mattress Mack" is hitting the track. The racetrack, that is.
Jim McIngvale, the Houston mattress and furniture magnate, is offering a full money-back guarantee to anyone who buys a mattress set of $3,000 or more at his Gallery Furniture stores if Kentucky Derby favorite Essential Quality wins.
Mack started his betting with $500,000 on Essential Quality on Friday and added another $400,000 on Saturday morning. The plan is to bet even more, topping at least $2 million.
Mack said that for the first two weeks of the promotion, it's gotten more action than he expected.
Essential Quality, winner of the Southwest and Blue Grass Stakes, is undefeated in his five races.
"Six of the last seven times the Kentucky Derby has been run the first Saturday in May, the favorite has won," Mack told The Action Network.
There's one caveat. Essential Quality is owned by Godolphin Racing. The United Arab Emirates investors, who pour millions into the sport, have never had a horse win the big one at Churchill Downs.
Although it's the first time Mack has tied a promotion to horse racing, he's no stranger to the game. He owns 60 thoroughbreds.
