Point of Law pays $3.09m jackpot on $364,000 bet
Anonymous punter staked $364,000 on Melbourne Cup winner Point of Law and cashed $3.09 million.
An anonymous punter turned $364,000 into $3.09 million by backing Point of Law at the 2026 Melbourne Cup. The Ciaron Maher-trained colt started as favourite and won in the closing stages on Monday.
The bet was placed at $8.50 odds through Ladbrokes. Irish billionaire JP McManus also wagered heavily on the race, laying $2 million across multiple horses.
He lost a $1 million bet on Hopewell Rock that would have returned $9.6 million, but came away level after one of his other bets to win $2 million came through. Sportsbet reported Point of Law attracted the most betting interest in the lead-up to the race.
- $364,000 at $8.50 odds
- Winning bet
- $3.09 million
- Return
- Ladbrokes
- Bookmaker
- Ciaron Maher
- Horse trainer
Why it mattersThe winning bet shows how Melbourne Cup odds can turn small stakes into life-changing payouts when the favourite delivers.
AustraliaThe race is central to Australian betting culture; these bets shaped the bookmakers' biggest payouts on Cup day 2026.
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