A punter stands to collect more than £500,000 ($895,000 AUD) from a £5 bet ($9 AUD) if the red hot favourite Envoi Allen wins at the Cheltenham Festival on Thursday.
The punter Paul Dean has seen four legs of his five-horse multi bet win.
Now he has been offered the chance to cash out for £275,000 regardless of the final result.
“He told me he won’t be able to sleep tonight. I’d say that’s a massive understatement,” said Betfair spokesman Barry Orr on Wednesday.
Punter Paul Dean’s betslip showing the odds he got the five horses at
Dean’s winning run began with two winners at Royal Ascot nine months ago, and two more have followed at Cheltenham this week as he closes on a potential payday of £511,225.
”He could take the cash out offer and sit back safe in the knowledge that regardless of what happens in the race he is £275,000 better off,” said Orr.
“Alternatively, he can reject the offer and hope Envoi Allen beats his seven opponents and also safely negotiates the 16 fences to land his incredible bet.
”Envoi Allen is 4-9 favourite so he may well stick and let the bet run.”
