LOUISVILLE, KENTUCKY – MAY 02: A view of the twin spires and empty grandstand from the first turn at Churchill Downs on May 02, 2020 in Louisville, Kentucky. The 146th running of the Kentucky Derby, originally scheduled for May 2nd, has been postponed to September 5, 2020 due to the COVID-19 pandemic. (Photo by Andy Lyons/Getty Images)
“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 hasn’t placed his bet to hedge the promotion yet, but estimates he’ll have to bet $2 million on the horse as insurance to cover his liability.
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.