Punter walks away from Melbourne Cup with $81,000 as Knight’s Choice claims victory

One of the Melbourne Cup’s most stunning upsets has left punters reeling and bookies licking their wounds in the wake of the great race.

Knight’s Choice has pulled off one of the Melbourne Cup’s most stunning upsets, leaving punters reeling and bookies licking their wounds in the wake of the race that stops the nation.

Just two hours before the race, Ladbrokes reported a massive $3 million liability if the five-year-old gelding crossed the line first.

By the end of the race, that hit softened slightly to a $2.4 million loss. Over at TAB, one lucky punter cashed in on the long odds, taking home $81,000 from a $1000 bet on Knight’s Choice at $81 odds.

Breaking from the barriers, Knight’s Choice was a true outsider, paying $81 with both Ladbrokes and TAB.

In second place, Warp Speed came in with fixed odds of $8 for a place at TAB, followed by Okita Soushi at $6 for third, while Zardozi rounded out the top four.

It was an astonishing end to the most hyped-up races of the year.

Punters who backed the exotics hit the jackpot: the quinella paid $806, the exacta a tidy $2,324, while the trifecta surged to $30,604.70. The first four soared to a massive $870,448.60, solidifying Knight’s Choice as the underdog that up-ended the Cup.

Elsewhere, Racing.com posted that one punter stood to win $200,000 when Knight’s Choice was offering eye-watering $301 odds.

There were also some brutal losses as the favourites tumbled down the finishing order.

PointsBet reportedly took an $8000 bet on Positivity, whose odds were at $126 at the time. The Andrew Forsman-trained four-year-old Kiwi mare had firmed into $61 but could not place.

The punter initially stood to take home a whopping $1,008,000 but left with a sore head.

Tom Waterhouse laid down $133,000 on Chris Waller’s Buckaroo, a bet that could have netted him $1m.

Waterhouse also has money on Zardozi at $12 odds with a chance to win $300,000.

Jockey Robbie Dolan rode Knight's Choice home to victory, gifting one punter a mammoth $81,000 win.

Another punter plonked $5,000 on Just Fine at $51.

Other bets reported by TAB had $10,700 on Onesmoothoperator at $9 ($96,300), $9,000 on Absurde to win at $11 ($99k) and $7500 on Land Legend to win at $17 ($127,500).

At Ladbrokes, another punter has $2450 on Just Fine at $46, which could earn them $112,700. Just Fine has now firmed into $34.

Another punter had $1500 on Sea King, who was at $101, which would have meant a $151,500 payday.