A Royal Ascot bookmaker has been hit with a significant loss for the fourth straight day at the prestigious racing festival, and the final day could bring further financial pain.
Massive Bet on Precise Lands
Star Sports, known for accepting large wagers from high-rolling punters, took a £275,000 bet on Aidan O'Brien's Precise in the Coronation Stakes on Friday. The horse won at odds of 8-11, costing the firm heavily.
Flynn Goward, Managing Director at Star Sports, expressed his concern before the race, saying he had "everything crossed that we can get Ryan Moore's mount beaten here, but judging by the trend of the week so far we aren't too hopeful." His fears were realized as Precise saw off Touleen and the 1,000 Guineas winner True Love to claim the Group 1 mile contest.
A Week of Losses
The meeting started poorly for Star Sports, ending £400,000 in the red on day one after accepting £180,000 worth of bets on Bow Echo, who won the St James's Palace Stakes on Tuesday.
Wednesday saw further losses on Ombudsman, winner of the Prince of Wales' Stakes, following several large wagers including two worth £20,000 each.
Thursday brought no relief as Scandinavia won the Gold Cup after attracting a £120,000 winning bet at odds of 5-2.
Friday's loss on Precise was the largest of the week. Goward commented: "The writing was on the wall for us when Ryan Moore hit the front aboard Precise in the Coronation, and we had to watch the final stages through our fingers as another massive bet – £275,000 at 8-11 – landed to floor us in the ring."
Looking Ahead
Goward added: "We're certainly seeing stars at the moment, and after another dreadful result, we could be staring down the barrel at a six-figure loss on every day of Royal Ascot this year if this continues."
