Goodwood proves not so glorious for bookies
Published 30/07/2016 | 02:30
Victory for five of the seven favourites on the fourth day of the Qatar Goodwood Festival was estimated to have hit UK bookmakers for up to £10million.
William Hill believed the damage cost the industry a mammoth amount in one of the worst weeks of the year for betting firms.
After The Gurkha in the Sussex Stakes on Wednesday, and Big Orange in the Goodwood Cup on Thursday, bookmakers were subject to another major gamble coming off following the victory of the Michael Bell-trained 7/4 favourite Franklin D in the Betfred Mile.
To make matters worse, Bell's handicap 'good thing' was ridden by Ryan Moore, who had a further two victories on the day.
Hills' spokesman Jon Ivan-Duke said: "It's a horror show for bookmakers. Franklin D was a seven-figure loser in its own right and we estimate the five winning favourites have cost the industry £10m."
Having been a stand-out price at 4/1 on Franklin D in the morning, Betfred reported a hit even harder than the one on his stablemate Big Orange 24 hours earlier.
While Paddy Power had no figures on how much they were taken for, their representative claimed the results of today were succinctly summed up in one word - "Ouch."