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Sports Betting Firms Escape Huge Payout

Posted By Suzanne Moore | Thursday, August 20, 2009 - 11:00
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Bookmakers were close to paying out £2 million on three races

Sports betting firms breathe sigh of relief as Red Merlin fails to win Ebor Handicap.

Two of the UK's leading bookmakers narrowly avoided paying out a combined £2 million to one horse racing punter on Wednesday (August 19th).

The unidentified man from Cambridgeshire placed a £180 treble with both William Hill and Ladbrokes on races at Glorious Goodwood and this week's Ebor Festival at York, the Cambridge News reports.

At total odds of 3,600/1, he needed Laa Rayb to win at 33/1 at Goodwood on July 31st, 14/1 shot Genki to take first place at the same meeting later that day and Red Merlin to triumph in the Ebor Handicap with odds of 10/1.

The first two horses won their races, but the punter's dream of scooping £1 million from each betting shop was dashed when Red Merlin did not even place at York.

A spokesperson for Ladbrokes told the newspaper that he was "unspeakably relieved" after the third horse failed to claim victory.

"This would have been the most expensive loss in our whole history and there was nothing we could do but watch with gritted teeth and hope the horse wouldn't win," he said.

The Ebor Handicap was won by 25/1 chance Sesenta, who beat the 15/8 favourite Changingoftheguard by a head.

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