JP McManus: 'We loaded up on him - he had been laid out for the race'

Recalling some of the greatest gambles in racing history. This week: JP McManus and Mister Donovan

A famous festival gamble

The Cheltenham Festival has a long history of big-race gambles, both won and lost, and one of the most important was Mister Donovan's triumph in the 1982 Sun Alliance Hurdle for legendary owner JP McManus.

It was a colossal gamble that sent shockwaves through the Cheltenham betting ring – taking out the modern equivalent of £1 million – and became the foundation stone of a jump racing empire.

Two men and their horse

JP McManus In the 1970s McManus became established as a fearless bookmaker and punter, one given the sobriquet of 'The Sundance Kid' by legendary writer Hugh Mcllvanney. He also became an owner, regularly backing the horses who ran in his now famous colours of emerald green, yellow hoops and white cap, although in those early days he endured several agonising losses at Cheltenham and by 1982 had yet to taste festival success.

Mister Donovan The horse who would break McManus's festival duck had unpromising beginnings. He was bought at the sales by trainer Edward O'Grady, whose efforts to sell him on foundered on a failed veterinary examination. "Jaysus, he's got such a bad murmur in his heart I'm afraid he might fall down on me," the vet told O'Grady.

Edward O'Grady The County Tipperary trainer was Ireland's champion in four straight seasons from 1977 and McManus enjoyed early success backing the stable's runners, particularly in bumpers. With care and skill, O'Grady brought Mister Donovan up the ranks and it was the young hurdler's final run before Cheltenham, when a promising third at Naas over an inadequate trip, that prompted McManus to buy him.

Edward O'Grady on JP McManus: 'Win or lose, he never discussed his gambles with me'Credit: Patrick McCann (racingpost.com/photos)

The set-up

The Sun Alliance Novices' Hurdle (now the Ballymore) on March 17, 1982, was worth around £16,000 to the winner, but McManus had much bigger sums in mind. "We loaded up on him," McManus has said. "I hadn't owned the horse for very long, but he had been laid out for the race. I don't remember quite how much we had on but it was important at the time anyway."

By the off McManus stood to win a reputed £250,000 (the equivalent of £1m now) on Mister Donovan, who started 9-2 second favourite.

"Win or lose, JP never discussed his gambles with me," said O'Grady. "I therefore had just one job – that was to produce winners. There was no additional pressure coming from JP backing the horse. There was just the pressure that comes from trying to win a race at Cheltenham."

Mister Donovan's heart problem added another degree of difficulty for O'Grady. "Training horses with murmurs is a tough business," he said. "I've learned you can finesse horses with a murmur to peak on one day. That's the day you want to be on because that day isn't going to come back for a long time."

A bookmaker's view

This was the heyday of the Cheltenham betting ring, long before the days of online gambling, and bookmaker John Christie was in the thick of the action.

"The buzz and excitement at Cheltenham was incredible. Tattersalls bookmakers took fortunes. Everybody knew who JP was. He would often come up to the stand. He didn't send minions over to place the bets on his behalf. He enjoyed the battle.

"If we were offering 5-1 about one of his horses, he might ask if we would lay him £10,000 to £2,000. We would say, 'Can we do you £5,000 to £1,000, JP?' However much you offered him he would accept and then move on down the line. Bookmakers didn't panic if JP was punting. He would have good days and bad days. It absolutely wasn't the case that you took the bet and got ready to pay out immediately. You always thought you had your chance of getting the horse beat."

Mister Donovan: winner of the Sun Alliance Novices' Hurdle (now the Ballymore) in 1982Credit: Gerry Cranham

The gamble landed

The bookmakers could not get Mister Donovan beaten on this occasion. He was ridden to minimise risk by Tommy Ryan, always prominent and in front from the final descent. Up the home straight he had a protracted duel with Spider's Well but came home in front by a length and a half.

O'Grady had achieved his aim of getting the horse with a heart murmur to peak on one day and McManus had won his battle with the bookmakers.

A lasting legacy

Mister Donovan was the first festival winner for McManus, who in the intervening 40 years has become the dominant owner at the meeting with 67 successes. With around 350 horses spread between upwards of 60 trainers in Britain and Ireland, he is a major supporter of jump racing – and it all goes back to that 1982 gamble.

"I often wonder whether I would have been able to have any of the others if Mister Donovan had been beaten," McManus said. "My most important one at Cheltenham must have been the first one. He was needed."

Read these next:

Noel Furlong: 'I had £300,000 on Destriero and a lot on the double'

Yellow Sam: a perfectly executed gamble that netted Barney Curley a fortune

Albert Davison: a master plotter who ensured Irish betting shops took a bashing

Over 50% off Racing Post Members' Club! Members' Club is the only subscription racing fans and punters need in order to stay informed and make smarter betting decisions. Features include early access to the Racing Post digital newspaper, exclusive news and interviews, premium tips and form study tools to assist with betting. Select 'Get Ultimate Monthly' and enter code TRYME to get your first month for just £14.99* – that's better than half price!

Subscribe now

If you decide that Members' Club is not for you, then you can cancel at anytime by contacting us.

*Members' Club Ultimate Monthly first month will be charged at £14.99, renews at full price thereafter