The world’s most newly famous punter Paul Dean collected £250 000 on Thursday after opting to partially cash out his remarkable £5 all-on before Envoi Allen suffered a shock defeat when falling in the Marsh Novices’ Chase.
The 40-year-old had the option of letting the bet roll and relying on odds-on favourite Envoi Allen to win him £511 225 in the Marsh Novices’ Chase or to take a partial cash-out offer from Betfair.
Cheers to a lovely win (Pic – www.gazettelive.co.uk)
The Racing Post reported that Dean was offered a £275 000 cash-out from Betfair but following discussions with the bookmaker, he accepted a partial cash-out of £300 000 if Envoi Allen won and £250 000 the field.
His decision not to let the bet run paid off after the six-year-old fell at the fourth fence.
He said: “I was happy after a couple of furlongs and wanted him to win as a racing fan and looked away when he fell. It would have been better if he’d won but I can’t complain and the most important thing is that Envoi Allen and Jack Kennedy walked away afterwards.
“I’m not annoyed I didn’t take the original cash-out option of £275 000. I always put more money on the horse I fancy. That’s the way I like to play. It’s Cheltenham and everybody knows how competitive the racing is and how easily things like this can happen.”
“It’s not so much the races that make me nervous, it’s the months leading up to the festival when my selections shortened. You’ve seen how many drop out and you just hope yours doesn’t get injured.”
Dean, from Stockton-on-Tees, had not decided how he will spend the money, but has a few options, and added: “It’s a life-changing sum. I might buy another house or perhaps invest in my own horse. I’ll be going on plenty of holidays and would like to take my parents away.”
