The moment a man lost $1.5m bet at Kentucky Derby was captured on camera

Ahead of the Kentucky Derby, a famous sport better placed a whopping $1.5 million on the horse Epicenter to win - only for the horse to narrowly miss out on victory.

Jim McIngvale aka "Mattress Mack" who is known for his gambling large sums of money isn't a stranger to losing big money after he lost $2.4 million at last year's Derby after he betted on Essential Quality to win which ended up finishing fourth, USA Today reported.

Though his previous loss certainly didn't stop him from going all out once again this year and felt confident that Epicenter would bring it home.

"He's gonna be the favourite for the Kentucky Derby. I love Epicenter. He's a great horse. I like his jockey a lot," McIngvale told Bleacher Report.

"I really like Steve Asmussen, because he is a Texan, and his family has deep Texas roots to the horse racing business. They've been at it for generations. Great people, and I think Steve's due to win the Kentucky Derby."

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It looked good for McIngvale as Epicenter appeared to be on course to win the Derby, however things took a dramatic turn in the final straight when he was overtaken by another horse Rich Strike who was 80/1.

McIngvale's reaction to his horse being pipped at the post in the final moments was captured - and for obvious reasons, there weren't any celebrations at the result.

“I thought I was home,” McIngvale told theLas Vegas Review-Journal. “It reminded me of the Bengals-Rams gut punch.”

All in all, the sports better lost $2.6 million at the event but appeared to take the loss in his stride and added: "You win some and you lose some, and sometimes you get rained out. Gonna put my big boy britches on tomorrow morning and go back to work.”

Mack’s bets are a way to try and alleviate the promotions he offers at this furniture store, Gallery Furniture. On this occasion, the promotion offered customers a refund of $3,000 or more if the favourite horse won the Derby.

Rich Strike's 80/1 win makes it the second-biggest underdog victory in Kentucky Derby history, with the race's biggest underdog being Donerail at 91/1 all the way back in 1913.

Racing isn't the only sport McIngvale has been unlucky with, as he lost $9.5 million when betting on this year's Superbowl.

Despite some hefty losses, McIngvale does have a track record of some impressive wins which include him winning $3.4 million correctly betting on the Tampa Bay Buccaneers winning the 2021 Superbowl.

Better luck at next year's Kentucky Derby, perhaps.

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