Expat Australian collects on million-dollar wager

In a gamble that would do Hong Kong proud, an expatriate Australian landed a A$1 million (HK$5.9 million) bet on champion racehorse Lonhro in yesterday's Darley Australian Cup at the Flemington course in Melbourne.

The punter recouped his stake and a 55 per cent return on his investment after persuading bookmaking company Sportingbet to take the wager. The horse's win gave the gambler a total payout of A$1.55 million.

It was understood to be the largest single bet placed on a horse in the past 20 years in Australia, Sportingbet officials said. The gambler was not identified, other than being described as an Australian businessman working overseas.

The gamble easily surpasses Hong Kong's latest coup - at Sha Tin nine days ago.

A punter laid out $700,000 on a debutant runner called Sharki in the final minutes of betting, crushing the odds. The two-year-old won and the punter collected $3.78 million.

At one stage yesterday, the Australian punter's million looked lost when Lonhro was badly checked as he tried to escape from a pocket in the home straight. But jockey Darren Beadman found an opening and the horse unwound a championship brand of acceleration to turn certain defeat into victory.