Find Out How This Kentucky Derby Bettor Won $150,000 On a $500 Bet On Justify (PIC)
It was hardly a surprise that Justify won the 2018 Kentucky Derby on Saturday. He was the favorite on the morning of the race with odds of 3-1. The next closest horse was Mendelssohn with odds of 5-1, while Magnum Moon was third with odds of 6-1.
So how did one bettor in Las Vegas manage to win $150,000 by placing a $500 bet on Justify?
— Bill Krackomberger (@BillKrackman) May 5, 2018
The answer is simple. He placed the bet after getting a juicy tip in February, long before most horse racing fans had any idea Justify would be any good.
According to Gaming Today‘s Bill Krackomberger, a friend of his got a tip from an inside source in February. At that point Justify hadn’t even raced as a two-year-old. However, that source told Krackomberger’s friend that Justify’s trainer, Bob Baffert, thought Justify was “a monster of a horse” who had a good chance to win the Derby if everything went right.
Krackomberger’s friend repeated the tip to some of his friends, and one of them went out and placed a $500 futures bet on Justify at the Wynn Las Vegas sports book. At the time, with Justify yet to run his maiden race, the odds of him winning the Kentucky Derby were 300-1. Hence the $150,000 payout.
Hilariously, Krackomberger says the friend who got the tip about Justify back in February actually asked the guy who placed the bet for a slice of the winnings, since he wouldn’t have won without the tip. However, the guy who placed the bet said hell no. And who could blame him? If the guy who received the tip wanted to cash in on it he could have placed a bet himself.
Thanks to Bill Krackomberger for sharing this story.
Hat Tip – [FTW]