WATCH: Moment 'On The Fringe' wins Dublin pub syndicate €100k
THIS is the moment a Dublin pub syndicate saw their Cheltenham winnings soar past €100,000.
Gibney's pub in Malahide, North Dublin erupted as Nina Carberry stormed to victory in the foxhunter steeple chase at Cheltenham Festival.
Carberry's 6/1 win riding 'On The Fringe' pushed the betting syndicate over the €100k mark, much to the delight of its members - many of whom watched the race at Gibney's of Malahide.
The syndicate is now in its second year after being set up by locals Robert Rooney and Thomas Wright in conjunction with the Gibney family who run a pub in Malahide village. According to Rooney, the syndicate was set up to cater for the huge interest during the Cheltenham festival present in the locality.
The syndicate boasts over 200 members, all of whom have an equal stake. Each member put down the sum of €100 at the beginning of the festival and each member takes home an equal share of the winnings after the last race. Thanks 'On The Fringe' the winnings stand at just over €100k.
The responsibilities of placing the bets falls on the shoulders of a small group including Gareth O'Brien of 'At The Races', who is originally from Malahide.
Members entrust their stake to the group who make selections and create a timetable as well as race info and spreadsheets.
Eugene Berry is an estate agent from Malahide and a member of the betting syndicate, and was in Gibney's pub to watch Nina Carberry storm home
"It's fantastic, and a massive improvement on last year - Annie Power cost us a lot of money when she fell, but this year is different" he said
"The syndicate is getting very popular, everyone wants to be a part of it, it's great craic"
Carberry's win was crucial to the success of the syndicate who started the day at 30k to the good. Her win means that each of the members will go home with close to €400.