Mattress Mack Loses $1.5 Million on Kentucky Derby Upset
There is a rarified air that most of us never get to breathe. That is the air that is only breathed in by the rich and famous. While we, the working minions toil endlessly to make ends meet there are those to whom our daily, nay our annual salary is a mere pittance.
One of those individuals that would probably say my paycheck and your paycheck too wouldn't equate to pocket change is Texas furniture mogul Mattress Mack, aka Jim McIngvale has made a name for himself in the furniture business in Texas for sure. He's also made quite a name for himself for his outlandish sports wagers.
You might recall Mack has placed some incredibly large bets on the Houston Astros and the World Series. He's also given back to the people of Houston during the 2016 floods too. So Mattress Mack isn't what I would call " a rich guy". He's what I'd call a regular guy with money. A lot of money and he likes to gamble.
Here was Mack this past Saturday before the Kentucky Derby.
That was Mattress Mack sounding very confident about his selection in the Kentucky Derby. He had chosen to place $1.5 million on Epicenter. That horse, the winner of the Louisiana Derby, was showing all the signs that he was the horse to beat in the run for the roses.
And I have to admit, things were looking really good for Mack and his $1.5 million dollar bet as the horses rounded the turn and headed for home last Saturday afternoon.
That was Epicenter out in front and closing in on the wire when suddenly an 80-1 longshot Rich Strike ran by him like he was tied to a post. For those who placed a $2 wager on Rich Strike, your return was just over $160. But for Mattress Mack, the results of the Kentucky Derby drew this comment.
Did you catch those words of advice? "You win some, you lose some, and sometimes you get rained out, NEXT!" That's coming from a guy who just lost $1.5 million outright and a chance at about $8 million on Epicenter had held the lead.
If you're going to be a gambler you have to adopt and adapt to that kind of strategy. Obviously, Mattress Mack is playing with money he can afford to lose. As long as we stay in our financial lanes we can do the same. We just probably won't get the news coverage that Mack gets.
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