John Singleton's $10m Melbourne Cup pay day if in-form mare Dear Demi salutes in the big one

UPDATE: OWNER John Singleton will have a $10 million pay day if his mare Dear Demi wins the Melbourne Cup.

John Singleton and Jim Cassidy

OWNER John Singleton will have a $10 million pay day if his mare Dear Demi wins the Melbourne Cup.

Singleton yesterday backed Dear Demi to win $6 million in the Melbourne Cup with bookies around the nation.

And if Caulfield Cup minor placegetter Dear Demi does win the race that stops a nation at Flemington on November 5, she will earn $3.6 million first prizemoney.

"If Dear Demi can win the Cup, then it will be a $10 million result for me," Singleton said yesterday.

"This morning I've backed her with a number of bookies, mostly Lloyd Merlehan (TopSport) and 'Sully" (Michael Sullivan, Sportingbet).

"I've got average odds of 60/1 and I've put $100,000 on her to win the race."

Singleton said it was a "bet to nothing" because he expects Dear Demi to earn some prizemoney at the very least in the Melbourne Cup.

"My trainer, Clarry Conners, maintains she will run top five and they pay prizemoney of $120,000 if you finish sixth to eighth.

"Clarry said the mare would have won the Caulfield Cup if she had started in the Caulfield Stakes the week before.

"This mare needs racing to get fit so she will run in the Mackinnon Stakes and that will have her ready for the Melbourne Cup.

"If Clarry is right, and he's a good judge, then it is a bet to nothing because he's confident she will get some prizemoney.

"It's nothing unusual for me to bet with the prizemoney she could win. I've still got $20,000 to play with and might have some more on her."

Singleton said it has been his obsession to win a Melbourne Cup and believes he may not get a better opportunity than with Dear Demi.

"She's only got 51kg and Chris Munce is going to ride her and he's won a Melbourne Cup (Jezabeel, 1998)," Singleton said.

"I've been trying all my life to win this race, every Australian wants to win it. We are in with a chance, anyway."

Sullivan said Singleton put $50,000 the win and $25,000 the place on Dear Demi at odds of $41 with Sportingbet for the Melbourne Cup.

“Singo told me over the phone he was having an emotional bet on Dear Demi to win the Cup,” Sullivan said. "If she gets up and wins though, I’ll be the one that’s emotional."

Merlehan said took a wager of $1 million to $25,000 on Dear Demi from Singleton.

"Every time he has a bet with me he wants to back things to win a million," Merlehan said.

 "I suppose it is not the silliest bet he has ever had, she has a postage stamp weight and Chris Munce is now riding her."

The betting plunge has resulted in Dear Demi firming to $26 with most bookies including TAB Fixed Odds to win the Melbourne Cup.

Singleton's betting spree came as it was confirmed Brisbane jockey Chris Munce would ride Dear Demi in the  Cup.

Munce will ride Dear Demi for the first time when she runs in the Mackinnon Stakes at Flemington on Saturday week.

He will be chasing his second Melbourne Cup win after partnering Jezabeel to victory in 1998.

Dear Demi

THE BIG BETS
KERRY Packer had the biggest bet ever in Australian racing - $7 million with bookie Bruce McHugh on Myocard at 4/7 on the 1987 Sydney Cup. Myocard was narrowly beaten by Packer's own horse, Major Drive.

A MYSTERY punter had $5 million with Sullivan's Sportingbet on Lonhro at $1.20 in th champ's farewell race, the 2004 Queen Elizabeth Stakes. Lonhro was beaten by Grand Armee.

THE same mystery punter placed a $2 million wager with Sportingbet on Lonhro in the 2004 George Ryder Stakes and collected a $1.7 million profit.