Bookmakers were left ruing Lloyd Williams' record fifth Melbourne Cup winner with most reporting Almandin, the one-time broken down stayer, ripped millions out of their bags before swiftly installing him favourite for next year's race.
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Almandin wins the Melbourne Cup
Almandin wins a thrilling dash to the line to take the 2016 Melbourne Cup at Flemington.
Sportsbet reported one punter turned turned a $10 first four bet into a $241,000 windfall and it offered odds as much as $301 about Almandin winning the Melbourne Cup months ago, a price snapped up by just two punters.
"Punters outsmarted us by backing Almandin at the ridiculously big odds of $301 earlier in the piece and even [on Monday] they kept getting stuck into him," Sportsbet's Christian Jantzen said.
Almandin, the pick of the Williams-owned quartet which were entered for Tuesday's race, was heavily backed on Tuesday before the race prior to pipping Irish raider Heartbreak City in an epic duel at the end of the Flemington two-miler.
He was also the subject of considerable support at the traditional Call of the Card on race eve when backed from $15 into $13 and most bookmakers were praying Heartbreak City, trained by the wily Tony Martin who is known for his European betting plunges, could stave Almandin off in a driving finish.
"Almandin wasn't the worst result for the book, but he certainly wasn't the best," CrownBet's Matt Campbell said.
"A couple of punters had the multi of Jameka for the Caulfield Cup into Winx for the Cox Plate into Almandin for the Melbourne Cup at odds of $160. One bloke has had $1500 on it, so it's fair to say the drinks will be on him.
![Punter's pal: Kerrin McEvoy riding Almandin to victory.](/web/20161104232901im_/http://www.theage.com.au/content/dam/images/g/s/f/g/t/s/image.related.articleLeadwide.620x349.gsf8dn.png/1478003877481.jpg)
"We would have loved Heartbreak City to hold on, but Almandin was just too good."
The result was a bitter pill to swallow for most bookmakers, who were left cheering after Michelle Payne's stunning Melbourne Cup win on Prince Of Penzance at 100-1 last year filled their bags.
"You have to take the good with the bad and while last year was one for the ages, we were well prepared that it wouldn't likely end in the same fashion for us this year," Ladbrokes' Roger Oldridge said.
Almandin has been installed favourite for the 2017 Melbourne Cup with a number of wagering operators, his price ranging from $13 to $17.
Most considered favourite Hartnell to be the worst result, but after looming at the top of the straight he weakened late following a torrid run to finish third.
The country's biggest bookmaker Tabcorp said Almandin was well supported since the barrier draw on Saturday night.
"One of the consistent firmers since the draw, one smart customer took triple figures ($101) back in September and they will be very pleased with themselves," Tabcorp's Gerard Middleton said.
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