Ladbrokes have agreed to settle Waterford stable lad Dylan Phelan’s €320,000 winning bet following discussions with the Irish Horse Racing Regulatory Board this evening.

Dylan Phelan (25) from Dungarvan thought he had hit the jackpot on April 19th 2024 when attending the races in Limerick.

Phelan walked into a Ladbrokes shop in Limerick City shortly after 2pm that day and placed a €60 bet. Fast forward three hours and that €60 had suddenly become €319,440.

The 25-year-old, who works for Cappagh trainer Declan Queally, placed a €30 each way double on two of Queally’s horses, who were running at Limerick and Ballinrobe respectively.

Rocky’s Diamond (80/1) won a maiden hurdle at Limerick at 4.45, and 22 minutes later, Diamond Nora (125/1) followed up to score in a mares’ maiden at Ballinrobe. Both horses went off at prices of 16/1 and 22/1 respectively.

Ladbrokes had initially refused to pay out the winnings until the findings of an IHRB investigation were concluded, but that process has now ended.

In a statement to the Racing Post, 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.”

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