Punter bets $1,000,000 on Lonhro in Aus Cup

planetwarrior · Mar 4, 2004

Friday, 5 March 2004:

A punter has put all his faith in the racehorse Lonhro, betting $1 million on the five-year-old to win Monday's Australia Cup.

The punter, who is anonymous but said to be an Australian businessman working overseas, stands to collect $1.55 million after Darwin-based Sportingbet Australia accepted the bet at odds of $1.55.

Sportingbet's Michael Sullivan said it was the biggest single bet in the history of the betting company.

"I don't think we have seen a bet of this size since Kerry Packer was really betting up big on the horses," Mr Sullivan told The Daily Telegraph.

Mr Sullivan said the punter had been negotiating the deal since Lonhro won the St George stakes on February 21.

Lonhro, to be ridden by Darren Beadman, will face a tough field at Flemington, including Melbourne Cup winner Makybe Diva, Caulfield Cup winner Mummify and Victoria Derby winner Elvstroem.

Sportingbet said Lonhro could easily became a liability for the company, with up to $750,000 in bets still expected.

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© 2004 AAP

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wilheim · Mar 4, 2004

Curious - could this bet be post up? I have to believe it is a credit situation only because moving that kind of money around is no mean feat. Another question that comes to mind is does this bet, and the other bets expected at Sportingbet on Lonhro have any affect on the track win pool?

wil.

vinividivinci · Mar 4, 2004

Don't know what the jock, trainer, groom or hot walker (amongst many others) might stand to gain with a win, but this info tells me FADE, FADE, FADE!

VVV

TheGeneral+ · Mar 5, 2004

Good luck punter. Hope you win

planetwarrior · Mar 5, 2004

The money doesn't go into the track pool but Lonhro will be close to even money because hes aus's fav horse right now.

miamiman · Mar 5, 2004

planetwarrior,

it will be closer to 1/2 on the day.

planetwarrior · Mar 6, 2004

probably so

HerzvanRentle · Mar 7, 2004

Lohnro just won it.

miamiman · Mar 7, 2004

yeah a tight one, price drifted out alot on the day - pissed down rain for a while leading up to the race turning the ground soft.

this guy generally bets between 100g to 400g on races so they should be able to get the money back of him, only strange thing is why he bet the horse 4 days in advance, he could have easily got that type of money down on race day ???