British Bookmakers Victorious Last Week

The British bookmakers breathed a respective sigh of relief this past week and were £45million richer thanks to Cheltenham and odds-on Kauto Star tumbled out of the Gold Cup.

Ladbrokes claimed the industry was spared a £20million disaster.

"God was a bookie this week ... we don't want it to finish but there's no money left to take from the punters," Ladbrokes spokesperson David Williams proclaimed. 

Bookmaker William Hill estimated the industry was up £60 million thanks to heavily-backed favorites losing.

The Times Online reported: "By teatime on the last day, 20 favourites had already lost, taking the money wagered with such blithe confidence racing towards the eternal satchels of the men who set the odds."

The Cheltenham Festival is the most prestigious meeting in the National Hunt racing calendar in the United Kingdom, and has race prize money second only to the Grand National. It is an event where many of the best British and Irish trained horses race against each other, the extent of which is relatively rare during the rest of the season.

Alistair Prescott, Gambling911.com