Business booming but bookmakers left to count the cost of Ten Sovereigns gamble

Bookmakers reported business to have boomed on one of the busiest Saturdays in the racing calendar but there was no hiding the mess Ten Sovereigns made to their balance sheets after landing a substantial gamble in Group 1 Darley July Cup.

While bookmakers had been on red-alert over the mounts of Frankie Dettori on Friday evening, a monster move for Ten Sovereigns on Saturday morning – from double-figure prices in some cases – soon became their Kryptonite and they were left reeling after a dominant 9-2 victory in the feature race of a 65-race schedule in Britain and Ireland.

"There was exceptional business across the cards with the results being generally positive but Ten Sovereigns was an absolute shocker, and as his price tumbled from 8-1 we hit every branch on the way down," said Betfair's Barry Orr.

Paddy Power's Paul Binfield painted a similar picture, with Ten Sovereigns pushing them into the red.

“Turnover was grand on 'Super Saturday' but the July Cup result was a shocker as we laid Ten Sovereigns from the word go," said Binfield.

"That was the worst result of the day by a long, long way and put us behind. Saying that, Pivoine did the layers a massive favour in the John Smith’s Cup and we can’t complain too much after no winning favourites on the first two days of the July festival."

The Racing Post's Pricewise did not help bookmakers with three winners from six Saturday selections, including a big-handicap double with Bunbury Cup scorer Vale Of Kent and John Smith's Cup victor Pivoine.

"Turnover was extremely healthy for 'Super Saturday' with fantastic racing all over the country," said Michael Shinners of Sky Bet.

"Results were mixed with the John Smith’s Cup a decent result, but the Bunbury Cup and, in particular, the July Cup very much in the punters' favour.

"The gamble on Ten Sovereigns was a sustained one and he was well backed both in the morning and just before the race itself."

Despite a healthy flow of business, Coral's David Stevens reiterated the opinion of his firm that Saturday's nine-meeting bonanza is not in the industry's favour.

"We’ve previously stated our view that with so much going on, some of the bigger races staged today are not punching their weight in betting terms as punters only have a finite amount to bet with on any given day, but as there is no desire from racing to make any changes, that’s the situation we find ourselves in," he said.

"It has of course still been a busy day, although the Frankie Dettori train was somewhat derailed by Honest Albert’s withdrawal, which did ease the pressure early on.

"However, punters still had plenty to cheer throughout, with Pricewise followers enjoying a great afternoon, before Ten Sovereigns landed one of the gambles of the Flat season, as we had offered a top price 10-1 in the morning. That victory ensured it was a super Saturday for plenty of backers."

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