Racebook Ladbrokes to Part with €100,000 of €319,000 Win to Jockey Dylan Phelan's Steed
New Twist in Departed Dylan Phelan's Fabled Double Bet Wins Over a Grand
Here's the skinny on the latest update concerning Dylan Phelan's jaw-dropping double bet made over a year ago on longshots worth a mind-bending +8000 and +12500. The gist is that Ladbrokes is prepared to shell out €100,000 ($113,465).
Although it's an uptick from their initial stance of not handing over a single penny, it's a far cry from the €319,440 ($362,454) outstanding sum Dylan should have earned from his €30 ($34) each-way double bet on two races held at Ballinrobe and Limerick tracks.
Ladbrokes insisted that the two races were smack dab in the middle of a probe. The reasoning behind their original refusal to dish out the cash was that the two races were under investigation due to a suspicious improvement in the winners' form, as mentioned in their terms and conditions.
Even with the Irish Horseracing Regulatory Board (IHRB) still digging into the races, it seems like the heavy social media buzz surrounding the situation nudged Ladbrokes to find a halfway point with Dylan Phelan.
Now, if you're curious about the IHRB's current investigation status, it looks like the ball game has wrapped up, paving the way for Ladbrokes to cough up the dough. The settlement top-out at €100,000, which was Ladbrokes' max payout cap for over-the-counter bets made in betting shops, suggesting that the IHRB investigations have been put to bed.
For the record, Dylan Phelan wagered €30 on an each-way double at odds of 80-1 and 125-1 on the horses. To add fuel to the fire, the horses' odds subsequently plummeted, leading to this long-awaited resolution after discussions between Ladbrokes and the IHRB. In case you were wondering, Dylan had gone the legal route against Ladbrokes for the unpaid bet. [Sources: 1, 2, 3, 4]
- Dylan Phelan's significant double bet win in the past horse racing events at Ballinrobe and Limerick tracks, initially valued at €319,440, has been reduced to €100,000 by Ladbrokes, which is their maximum payout cap for over-the-counter bets made in betting shops.
- Despite the Irish Horseracing Regulatory Board (IHRB) still conducting an investigation into the two races, Ladbrokes has recently decided to settle with Dylan Phelan, partly due to the influence of the social media buzz surrounding the situation.
- Although Ladbrokes previously refused to pay out the €319,440 to Dylan Phelan due to the races being under investigation, they have now agreed to pay €100,000, indicating that the IHRB investigations have been concluded.
- The IHRB investigation, which involved suspicious improvements in the winners' form, was a significant factor in Ladbrokes' original refusal to pay out Dylan Phelan's €319,440 win from his €30 each-way double bet on the horse races.
