Ladbrokes settles man's bet after he took bookies to high court for refusing to pay out £274,000 winnings
Ladbrokes has officially settled a man's bet after they failed to pay out his £274,000 bet winnings.
Dylan Phelan, a 25-year-old from Ireland, thought he was quids in last year after two horses he had trained, Diamond Nora and Rocky Diamond, finished first in their respective races, after he had backed them at odds of more than 5,000/1 on a €30 each way bet.
The youngster, who works for Declan Queally at his Waterford stable, placed his bet at a Ladbrokes shop in Limerick on the morning of the races at prices of 80-1 and 125-1, with the horses prices later lowered significantly to 22/1 and 16/1 respectively.
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The bold call should have landed him around €320,000 (£274,000) but Ladbrokes argued that the races were still under investigation and refused to pay it out, despite Dylan's dreams of buying a house, and the stable hand later admitted that he didn't expect the bookies to oblige despite taking them to high court.
He has later explained exactly why he made the two diamond picks, with the horses suffering from illness in the build-up to the race which increased their odds. But he knew they were fully fit, so decided to take his chances with a small bet, which later left him on 'cloud nine'.
Ladbrokes suggested that things were still subject to an inquiry, despite the races happening over a year ago now, and it seemed as if the young Irishman might not receive his just rewards.
However, perhaps in the wake of a viral social media video and widespread media coverage, the bookies have now confirmed that the winnings will be paid out in full, allowing Dylan to claim the life-changing amount of money.
A statement from the bookmaker read: "We have now discussed this matter with the Irish Horseracing Regulatory Board [IHRB] in order to seek a resolution as quickly as possible. Although the IHRB is unable to provide details of the investigation, or its likely duration, we are satisfied that it is appropriate to proceed with payment of the relevant bets in accordance with our terms and conditions.”
The investigation might well still be ongoing but it is unlikely that Dylan will care, or perhaps even remember, in a few hours time if he does go out to celebrate his winnings.
There is rarely a good ending when it comes to betting, as one lad who cashed out for £5,000 on an £800,000 winning bet found out not so long ago, but Dylan will no doubt be feeling that justice has finally been served in this case.
James Moorhouse