Online bookmaker Ladbrokes are facing a massive $4million dollar payout on the 2019 Cox Plate if favourite Lys Gracieux wins.
The Cox Plate offers an International bonus of $2million dollars if a horse wins a nominated race overseas then takes out Australia’s weight-for-age championship.
Lys Gracieux became eligible for the $2m bonus when she won the Takarazuka Kinen at Hanshin in Japan in June and will go into today’s race as the $3.60 favourite.
“It is the first time we have offered the international bonus and it is looking very likely we are going to have cough up the $2 million,” Ladbrokes chief executive Dean Shannon said.
Ladbrokes took the risk with the bonus and did not insure against it when they wen’t public with the offering earlier this year with the Cox Plate 2019 the first time the incentive has been offered.
Lys Gracieux remains the bookmakers worst result on the race despite the additional $2mil bonus payout with the corporate bookmaker expecting to payout over an additional $2mil in bets if she wins.
Market 💰: View the odds for the Cox Plate
