05/08/2014 10:35AM

Big Candy Boy bet came from Isle of Man hub

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Barbara D. Livingston
Candy Boy finished 13th in the Kentucky Derby.

LOUISVILLE, Ky. – The huge Kentucky Derby wager that dropped the odds on Candy Boy from 16-1 to 9-1 totaled just more than $1 million and was placed through an offshore account-wagering hub based on the Isle of Man, Churchill Downs officials confirmed Thursday.

Mutuels director Rick Smith said the unusually large wager was “dumped all at once, in the cycle that came in just before the race,” but that it was “possible” the wager had been made well before then. He added that the nature of offshore wagering means the bet could have been placed by computer from virtually anywhere in the world.

“Usually, when we send out odds and other information, the sites in turn regularly dump their win bets in as the bets are made, so it’s possible they held this huge bet until the end, although not very probable,” Smith said. “There’s no way for us to verify that it was one person making the wager, but you’d have to think it was.”

Smith said he was unsure whether the Isle of Man outlet “is one entity or hundreds of entities. They’ve been betting with us for quite a while.”

The Isle of Man is a British dependency located in the Irish Sea and is not part of the United Kingdom.

Candy Boy, trained by John Sadler, was never a threat in finishing 13th of 19 under Gary Stevens. The Derby was won by California Chrome, whose odds as the favorite tipped up from 2-1 to 5-2 after the gates were sprung; he paid $7 to win. The Derby win pool was more than $35 million.

The huge bet on Candy Boy was highly unusual but not unprecedented in the Derby. In 2006, a big bet of an undetermined amount came in a few minutes prior to post time and made Sweetnorthernsaint the $5.50-1 favorite. He finished seventh.
 

Dick Brasher 7 months ago
Actually,500g of it was mine....
Dusty Nathan 7 months ago
Most probably a billionaire. So that bet was like a working guy losing $300 or whatever. It shows how much money some of the ONE PERCENT have.
Brodieville 7 months ago
Once people are hooked on gambling and have an intermittent taste of success, their betting amounts are limited only by the size of their bank accounts, and their strategies for selection are dictated by their greed and their imagination. IMHO. I do think it's a tragedy that horses I bet at 8/5 or 2/1 end up at 4/5 once the race starts. it happens ALL the time.
brumount 7 months ago
A tragedy??
MGropenSDREADER 7 months ago
Illustrates the sort of thing that not only poisons wagering for the "non-whale" handicapper, but exacerbates the perception that things aren't on the level. "Isle of Man 'hub,' huh?" [Don't you just love it when the horse you thought was a good value at 7-2 at post ends up 5-2 right after the starting gate opens?]
Jd Staton 7 months ago
hes got more money then since but we should thank him thats prob a big reason chrome paid pretty good for being the challk
Matthew Linda Jr. 7 months ago
What bridge did he JUMP-off ... Mr. Ed can DUST .. Candy Boy .. Nice bet you CHUMP !!!
sjm80s . 7 months ago
California Chrome doesn't know what a tote board is.
Meydan Rocks 7 months ago
Zeljko Ranogajec….. is a professional gambler from Australia, with an annual, global betting turnover that is claimed to be over $1 billion. Ranogajec, according to insider accounts,[5] deployed, for his horse racing betting activities, a strategy combined of specific factors: identifying betting opportunities with as high liquidity as possible, meaning betting pools with significant money being bet by the regular gambling public; deploying a "highly sophisticated betting system"; identifying small margins, on which he bets significant amounts of money; and, importantly, closing deals with bookmakers, including industry leader TabCorp, for significant rebates on his bets. The latter has created controversy in the horse betting world, with many punters complaining about the alleged deal.[6] A TabCorp spokesman stated, in response to the media reports, that the corporation "investigated the incidents" and found "no evidence of illegal activity", but reminded the betting public that "the offering of tote-odds betting products by corporate bookmakers has inherent risks of pool manipulation [by large bettors]."[6] Ranogajec reportedly accounts for 6-8% of Australian bookmaker TabCorp’s $10 billion annual revenue.[7] His betting on Betfair is believed to account for one third of the company's Australian operations.[8] Ranogajec has gradually organised an extensive network of spotters, analysts, bettors and administrators, directing activities from office space he is allegedly occupying in the Fox Sports building at 235 Pyrmont Street,[9] in Sydney's inner suburb of Pyrmont.[10] It is known that he contracts many companies to provide information and does not employ anyone directly. However indirectly due to his information requirements, to gain the edge, he provides employment to over 300 people in Australia.[8]
edb 7 months ago
can't read a form? Maybe he doesn't like the new book.
bill n 7 months ago
Word is that when Rajiv Maragh found out that his ex-wife placed the bet he purposely wrecked any chances of the win bet cashing.
Honnimae 7 months ago
Explains why the track was slowed down and ignored , the racing Gods have control. This was Stevens had to say something. Dirty little secrets do come out