Ladbrokes agrees €100k payout after year-long IHRB investigation on single bet

Ladbrokes has overturned its decision to withhold payment on a previously contested six-figure winning bet from one of its customers.

The Entain operator previously stated that the decision to overturn the wager – placed by a stable lad last year – was “entirely consistent” with its terms. This was due to an ongoing investigation undertaken by the Irish Horseracing Regulatory Board (IHRB).

This investigation looked into two horse races that saw stable lad Dylan Phelan’s €30 each-way double wager come in, a maiden hurdle at Limerick and a mare’s maiden hurdle at Ballinrobe that each took place on April 19, 2024. 

These races were won by Rocky’s Diamond and Diamond Nora respectively. Phelan was well-acquianted with each horse, working as a stable lad for their owner Declan Queally in Waterford. 

Phelan placed the bet combining odds of 80-1 for Rocky’s Diamond and 125-1 for Diamond Nora, with each horse’s odds narrowing to 22-1 and 16-1 on raceday, respectively. At Phelan’s odds, the bet with Ladbrokes came in at a winning price of €319,440 (£273,935).  

However, despite the substantial prize amount won via the wager, Phelan was only set to receive €100,000 (£85,000) as Ladbrokes shop terms only allowed for that figure as a maximum payout. 

Raceday stewards at both racecourses also launched an inquiry into both races, following an apparent improvement in form shown by the winners of each race. This led to the investigation from the IHRB. 

Ladbrokes waited until the investigation has been finalised from the IHRB, with Phelan’s €100,000 payout finally confirmed more than a year later as the Board stated that the stable lad is not under scrutiny. 

Ladbrokes commented on the payout last week, stating: “We have now discussed this matter with the IHRB in order to seek a resolution as quickly as possible.

“Although the IHRB is unable to provide details of the investigation, or its likely duration, we are satisfied that it is appropriate to proceed with payment of the relevant bets in accordance with our terms and conditions.”