The only Irishman losing at the Cheltenham Festival? Dublin-based on-course bookmaker hit hard by huge cash bet on State Man

It has been a dominant week for the Irish at the Cheltenham Festival but results mean Dublin-based on-course bookmaker Seamus Mulvaney has taken a hammering – including from one of the biggest bets he has taken.

On Tuesday, the layer took an £11,000 bet on State Man at 4-11 for the Champion Hurdle, which he said was one of the biggest cash stakes he has taken in his 24 years of trading at jump racing's signature meeting. He paid out £4,000 shortly after the Willie Mullins-trained runner landed the feature.

Mulvaney spoke of his surprise in taking a "huge wad" of cash and suggested it was an unusual bet to take – pointing towards a change in habits from big-staking punters due to affordability checks on gamblers.

"We've not had a bet of that level here for a while. I suppose the affordability checks could be a reason as to why," said the layer, who trades at all the Irish tracks as well as a selection of the big meetings in Britain.

"It was all quite a surprise how it happened. I'd never seen the customer before, he just came over and handed me this huge wad of £11,000 to win £4,000. It was definitely a bit nervy watching the race but it would've been a lot different if the horse was odds-against. We paid out but we've never seen anything like it."

Fact to File (Mark Walsh) wins the Brown Advisory Novices' Chase at CheltenhamCredit: Edward Whitaker

Victories for odds-on shots State Man, Lossiemouth, Ballyburn and Fact To File as well as the well-supported Slade Steel and Gaelic Warrior meant there was a sombre mood among traders, who are hoping for a brighter second half of the meeting.

Wednesday's attendance of 46,771 was the lowest for a Cheltenham Festival, with a crowd permitted, since 2009 and on-course traders described turnover as particularly poor on the day.

Mulvaney, however, bucked the trend and said his turnover was marginally up on last year. He said his business proves extra popular with Irish punters wanting to bet with their fellow countryman.

Thursday's St Patrick's Day-themed card is typically one of his busiest trading days of the whole year and, despite unfavourable results, he was proud of Ireland's success at the meeting.

"I've been betting here since they allowed Irish bookmakers to trade but coming long before that," he added. "I remember being here when Galmoy was the only Irish winner [in 1988] and now it has completely changed. It only cost £80 to stay in the Queens' Hotel then!

"What Willie Mullins has done too, getting 100 winners at Cheltenham, it's just exceptional."

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