Melbourne Cup: The early cash out decision that cost a punter big

HAVING put down $5 on a four-leg multi at the juicy odds of 27702/1 this gambler could have had thousands riding on Prince Of Penzance, but...

IF YOU think you have a hard luck story to tell from this year’s Melbourne Cup, imagine how this unlucky punter feels.

Having put down $5 on a four-leg multi at the juicy odds of 27702/1 this gambler must have been pretty excited when the first three legs saluted.

There was just one race left, and our savvy investor had more riding on Prince Of Penzance than Michelle Payne, as a win in the Cup would see them collect $138,510.

But then they lost their nerve and accepted an early payout of $441.20 after the third leg.

That’s gotta hurt.

Prince of Penzance ridden by Michelle Payne heads into the final straight.

Winners are grinners... Michelle Payne and trainer Darren Weir celebrate last night.

It was a different story for another punter, who turned a $9 bet into a $125,000 windfall when he did the seemingly impossible: successfully predicting the first four horses past the post in the Melbourne Cup.

While punters are able to protect themselves and select more than four runners in the betting option, the Sportsbet client successfully predicted Prince of Penzance, Max Dynamite, Criterion and Trip To Paris would fight it out for the $3.6 million winner’s purse.

The punter wagered $9.84 on the long shot at odds of more than 12,000-1 to collect more than $125,903.

Bad luck... The punter’s last pick would have earned him $138,510 but he cashed out.

Prince of Penzance paid a record $101 with TAB fixed odds and was barely mentioned in the lead-up to the race.

That didn’t stop one TAB client from outlaying $2000 at the stunning price of $126 to collect $252,000, after placing his bet inside a Victorian TAB less than 30 minutes before the race.

The six-year-old bay horse was the longest odds to win a Melbourne Cup since 1940 and the equal longest in the history of the race.

The TAB said the Michelle Payne-ridden horse was the biggest outsider in the 24-horse field.

Prince of Penzance was $86.70 to win and $21.60 to place with the NSW Tote when the race jumped.

He was $65.90 to win and $16.20 to place with the Victorian Tote.

The TAB’s pool for the win was $15,071,400.

Runner-up Max Dynamite was paying $4.50 to place while third-placed Criterion was $5 to place.

Good luck... One plucky punter turned his $60 into $153,540 yesterday.

The TAB wasn’t the only bookmaker to be hit by a lucky punter.

A Sportsbet.com.au customer scored big in the first four market, turning $60 into $153,540 when he picked five horses in the first four betting option, including the top four finishers.

A William Hill Australia punter also had a six-figure payday after wagering a series of bets on Prince of Penzance to collect $169,000.

Sportsbet.com.au listed its top bets on the record-breaking horse:

● $1000 at $101 — $101,000

● $500 at $81 — $40,500

● $250 at $101 — $25,250

● $1000 at $26 place — $26,000

● $1000 at $26 place — $26,000