- Open Championship
McIlroy's father cashes in £100k on son's Open winJuly 20, 2014
A spokesperson for betting firm Ladbrokes confirmed on Sunday afternoon that it had held three bets that will allow Rory McIlroy's father Gerry and his friends to make more than £175,000 off his son's victory at Hoylake.
Ladbrokes' Rachel Bridge told ESPN that one bet - believed to be made by McIlroy's father - was a £200 wager at 500-1 odds placed in 2004 for his son to win within 10 years. That bet will pay out £100,000.
Ladbrokes first revealed on Twitter that it was paying out the winnings.
CONGRATULATIONS RORY: We're paying out 180k to Rory's Dad and pals. There'll be some party at the McIlroy's tonight! pic.twitter.com/wOG7vvIygd— Ladbrokes (@Ladbrokes) July 20, 2014
Two other bets, which Bridge says the firm believes were placed by friends of McIlroy's father, were placed in 2005.
Those bets, Bridge said, were for £200 at 250-1 for him to win The Open by 2015 and £200 at 150-1 for McIlroy to win The Open before the age of 50. Those bets will pay out a combined £80,000.
"We take the chance on bets like these," Bridge said. "We can make a lot money, but it's a big risk if one comes through. Unfortunately, on this one, we have egg on our face. Rory's father and his friends are having champagne on us tonight."
After winning the tournament, McIlroy - who won £975,000 himself in prize money - was asked about the bets, though it appears that he thought his father won half as much as he did.
"Honestly, that 50 grand that he's going to win is way - I mean, the other three friends that he did that with, they're going to be very happy," McIlroy said to the press. "He's never reminded me. I knew that he'd done it. I'm not sure if it will pay out. If it does, it's a nice little bonus."
Bridge said Ladbrokes will make the payouts immediately.
This article originally appeared on ESPN.com