Bookmakers Brace For Black Caviar Betting Annihilation

April 9th, 2011

Black Caviar fever has well and truly swept through Randwick Racecourse with tens of thousands of Sydneysiders making their way to the track for a once in a lifetime chance at witnessing the greatest racehorse on the planet.

Black Caviar will run in the Group 1 TJ Smith Stakes with victory the only possible outcome in the hearts and minds of Australian race fans right around the country.

Black Caviar betting in the TJ Smith Stakes was always going to be intense but bookmakers may not have been prepared for the millions upon millions of dollars already put on the wonder mare at tiny odds.

CEO of Sportingbet Australia Michael Sullivan is one bookie hoping that the record winning streak comes to an end after taking on the punters once again.

The latest in a string of super bets saw one punter put $300,000 on Black Caviar at $1.21.

Sullivan said there probably hasn’t been a  horse since Phar Lap which had created such a one sided betting market.

“We saw some huge bets on the likes of Lonhro and Makybe Diva but Black Caviar takes things to a whole new level,” Sullivan said.

“Punters feel she is unbeatable and see their bets as a term deposit which has terms of just over a minute instead of months or years.”

Sullivan reports that there have been multiple six figure bets with his betting agency alone with $150,000 and $100,000 invested earlier in the week.

The Group 1 TJ Smith Stakes will jump as Race #5 on Australian Derby Day at 1:50pm local time.