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Punter's $1 Million Bet Pays Off

MELBOURNE, Australia – As reported by the Strait Times: "An international punter who gambled A$1 million (US$1.3 million), recouped his stake and more than half that again yesterday when Lonhro won his final Melbourne race in the 2,000-metre Australian Cup at Flemington.

"Sportingbet gaming officials confirmed last week that they had taken the A$1-million bet at A$1.55, meaning the stallion's win gave the gambler a profit of A$550,000 (US$715,000).

"It was believed to be the largest single bet placed on a horse in the past 20 years in Australia, Sportingbet officials said…"

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