BetVictor cut losses

BetVictor have stopped accepting some multiple bets after paying out £486,000 to a small-staking punter on Saturday.

The change of policy comes after a punter placed a £2 Lucky 31 bet costing £62 to net a windfall the firm have described as the biggest horseracing payout they have settled for a small stake.

BetVictor will no longer offer the popular Lucky 15, 31 or 63 bets – on which they pay out double the odds for a single winner and a percentage bonus to anyone landing all of the legs − although other accumulators will still be accepted.

Matt Scarrott, BetVictor's director of sportsbook, said: "We have a strong portfolio of racing concessions including run for your money, in which we return full stakes on horses who refuse to start, extra place races, double result and best odds guaranteed. These coupled with the concessions and bonuses on 'Lucky' bets have made it unsustainable to continue to offer.

"Rather than simply removing the double odds concession and win bonus, leaving customers with a Yankee, Canadian or Heinz plus singles which they can obviously still place, we felt it was more transparent to remove the bets in its entirety."

What is a Lucky 31?

A Lucky 31 is a bet with five selections which consists of five singles, ten doubles, ten trebles, five four-folds and an accumulator

Having correctly permed five winners at Stratford and Ffos Las, the punter, who wishes to remain anonymous, received a 20 per cent bonus of £81,000 to bring the total payout to £486,014.88.

He said of the win: "I found out Saturday evening as I'd been out with friends, watching the rugby and racing and didn't realise the jumps results until after Soccer Saturday.

"I didn't believe it when I first saw it so checked again when I woke up on Sunday morning. The rest of Sunday just went as a blur. I was in shock and disbelief, all the emotions a lottery winner must experience I imagine. I've never had a winner anywhere near this amount, the best I've had is a few grand but this is unbelievable. It still doesn't feel real."

The £486,000 winning bet

Special Princess (1.50 Ffos Las) at 17-2 (15p Rule 4)
Lochinver (2.20 Stratford) at 14-1
Sweet Adare (4.05 Stratford) at 12-1
Joueur Bresilien (4.50 Ffos Las) at 5-1
Don Juan Du Gouet (5.10 Stratford) at 12-1

They cut their losses in South Africa quicker than it takes to light a Braai