Ladbrokes Settle Six-Figure Bet with Stable Lad After Discussions with IHRB
In a recent development, Ladbrokes has agreed to settle a six-figure bet placed by stable lad Dylan Phelan, who works for Declan Queally at his Waterford stable. According to a report from the Racing Post, Phelan had placed a €30 each-way double on the Declan Queally-trained pair Diamond Nora and Rocky’s Diamond, which were due to run on April 19, 2024.
The bet, which was placed at a Ladbrokes shop in Limerick on the morning of the races, had a potential payout of €319,440 (£272,694.75). However, Ladbrokes’ maximum payout limit for a wager placed over the counter in a betting shop for the relevant races is €100,000.
The Racing Post reports that both horses won their respective races, but Ladbrokes initially declined to settle the bet, citing that the races were under investigation by the Irish Horseracing Regulatory Board (IHRB). The IHRB had been informed of the apparent improvement in form of the horses and had referred the matter to an IHRB referrals committee.
As reported by the Racing Post, Ladbrokes’ decision to withhold payment was consistent with their terms and conditions. However, after further discussions with the IHRB, the bookmaker has elected to settle all bets relating to the two horses, despite the ongoing investigation.
In a statement, Ladbrokes said, “We have now discussed this matter with the Irish Horseracing Regulatory Board [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.”
The Racing Post initially reported that the matter had been highly publicised in recent days, with Ladbrokes facing criticism for their decision to withhold payment. The settlement of the bet brings a positive outcome for Phelan, who had stood to gain a life-changing sum from his wager.
It is understood that the IHRB investigation is ongoing, but Ladbrokes’ decision to settle the bet will come as a welcome relief to Phelan and his connections. The Racing Post will continue to provide updates on this story as more information becomes available.
The incident highlights the complexities of the relationship between bookmakers and the regulatory bodies that govern the sport. As reported by the Racing Post, Ladbrokes’ decision to settle the bet demonstrates a willingness to work with the IHRB to find a resolution.
In a statement to the Racing Post, a spokesperson for Ladbrokes emphasised that the bookmaker’s primary concern was to act in accordance with their terms and conditions, while also working to resolve the matter in a fair and timely manner.
The terms and conditions of Ladbrokes were a key factor in the decision to withhold payment, as cited by the bookmaker. However, the outcome demonstrates that, in certain circumstances, bookmakers may choose to settle bets even if the outcome is uncertain.
Further updates on this story will be provided by the Racing Post as the situation develops.
Sign up to receive On The Nose, our essential daily newsletter, from the Racing Post. Your unmissable morning feed, direct to your email inbox every morning.
Published on 25 April 2025
Last updated 19:20, 25 April 2025
Source link
