Layers floored by 'worst Ascot of modern era'
BOOKMAKERS estimated that the most punishing Royal Ascot of modern times may have cost the industry as much as £50 million as the five-day meeting ended on Saturday evening.
After the Jeremy Noseda-trained Laddies Poker Two had landed a massive gamble in the Wokingham Stakes, following the earlier Saturday successes of the well-backed Harbinger and Starspangledbanner, punters were lording it over the old enemy.
"It has been carnage," said Coral spokesman Dave Stevens, summed up the misery among bookmakers.
From day one of the meeting on Tuesday punters held the upper hand, and Saturday's results were the icing on the cake.
Laddies Poker Two, a 16-1 chance earlier in the week, was backed down to 9-2 favourite having been a morning price of 10-1.
Harbinger easily won the Hardwicke Stakes as odds-on favourite, and Starspangledbanner justified massive support by leading all the way to win the Group 1 Golden Jubilee Stakes.
Stevens said: "All in all it has been a Royal Ascot for bookmakers to forget. Across the five days it wouldn't be unrealistic to say the industry has lost somewhere around £50 million so from our point of view, we were probably the only people cheering when England didn't win last night."
It was the latest setback in what is turning out to be a disastrous year for the layers - and for racing with its ten per cent take of gross profits - after the cost of Tony McCoy's historic first victory with Don't Push Itin the Grand National was put at £10 million although results did go their way at the Cheltenham Festival.
"It's swings and roundabouts," added Stevens, "but while it was a bad Aintree, it was nothing on the scale of this week.
"Royal Ascot is the biggest betting meeting of the year, and it has been nothing short of disastrous."
Ladbrokes spokesman, David Williams, commented: "It has been the worst Royal Ascot of the modern era. The first day was dreadful, the next three days were very similar, and today has just been the square root of terrible quite frankly. It must have cost the industry tens of millions.
"Harbinger, Starspangledbanner and Laddies Poker Two were terrible results, all I can say is thank God for the England football team."
Over the five days there were 13 winning favourites, with only six of the 30 winners returned at double-figure odds.
"What is it about Ascot?" said William Hill spokesman David Hood. "For some bookies the five consecutive losing days for 2010, will make the infamous Dettori day look like a round of drinks."
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