Royal Ascot Punter Misses Out On £83,000 After Choosing To Cash Out For Under £500

One Royal Ascot punter has missed out on a potential winning of more than £83,000 after cashing out for under £500.

The fan, Bailey Grant, who placed bets on multiple races across two days of the event came extremely close to winning the maximum payout of his selections. 

Cashing out is an option to take a portion of your winnings before all your selected bets have taken place, it is often an intensely difficult choice as the punter has to risk losing all the money if the bet doesn't come in. But if they decide to cash out, the risk is there that the bet will win. 

His seven fold accumulator got off the mark very well, as all three of his picks for Thursday’s races winning, he tweeted a screen shot of his bet with a caption: “What should we do @AndyRobsonTips.” 

He didn’t cash out and the next day, his fourth horse won, bringing Bailey another step closer to glory. His excitement grew as he tweeted: “Oooo it’s getting closer.” 

He was three wins away from a massive win of £83,638.75. 

But Bailey decided to cash out at the amount of £463.75 as doubts started to creep in to whether the remaining horses will win their respective races. 

After cashing out at £463.75, he found out that the remaining horses of his bet won, meaning he would have took home the full pay out of £83,638.75 if he didn’t cash out. 

Many people questioned his decision to cash out, but Bailey replied with: “Some of you on here, don’t have the brains to think about it financially! Imagine if one of them got placed or came nowhere in the race? You all would be laughing or kicking ye selfs!” 

Ultimately, he was satisfied with his decisions. He said: “At the end of the days boys, I’ve just turned 21 had bets in the past especially at Cheltenham this year. One horse left to run either it falls or pulls up early on!” 

“It paid off, maybe not the £83k but I’ve played the bookies at their own game and came away with just under £7k+ in total for only today alone!” 

Royal Ascot is one of the biggest races in the calendar and is often attended by The Queen, who has seen her own horses run and win some of the classic races around the famous Ascot track. 

Unfortunately this year, due to mobility issues, The Queen was not able to attend and Prince Charles attended on Her Majesty’s behalf.