unexpected win?

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INDUSTRY NEWS

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British punter wins one million pounds with 50p bet
25 February 2008


LONDON, Feb 23 (Reuters) - A British punter has won one million pounds from a 50 pence bet to defy odds of two million to one, a spokesman for bookmaker William Hill said on Saturday.

The punter, who placed his bet in Thirsk in Yorkshire on Friday, was unaware of his new-found wealth until he walked into a betting shop in Bedale and staff told him of his success after he placed five more 50 pence bets for Saturday's racing.

"When they told him he had one million pounds to come but would have to collect it from the Thirsk shop he went visibly pale before saying that he would have to go and tell his wife," said a William Hill spokesman.

The punter's winning bet on eight horses -- the first of which was called "Isn't That Lucky" and the last "A Dream Come True" -- was the first ever betting shop million pound payout, the spokesman said.

What the press isn't covering is that the bet was apparently struck at odds of 2.8m/1. So 50p ought to have sent him home with £1.4m, not £1m.

That's why these clever bookies stick limits on said bets!

On the other hand - if he'd gone to an 'independant' bookie - prob would have been 100k!