In 2004, Gerry McIlroy put a bet in with Ladbrokes betting firm. Giving him 500/1 odds, Gerry bet 200 pounds ($341.00) that his son, Rory, would win the Open Championship before he turned 26 years old. At the time of the bet, Rory was just 15 years old. Now Gerry stands to collect about $171,000 thanks to Rory’s fantastic performance this week in England.
A year later in 2005, two other bets were made. A spokesman for Ladbrokes said they believe the bets were made by friends of Gerry McIlroy. One bet had another 200 pounds at 250/1 for Rory to win The Open by 2015. The other action had 200 pounds at 150/1 for Rory to win The Open before he turned 50 years old.
For those of you counting along at home, that is roughly $307,000. Ladbrokes Tweeted that they intended to pay Gerry McIlroy his 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
According to ESPN, Ladbrokes is known for allowing people to place bets on their offspring to win a major sporting event. When Formula 1 racer Lewis Hamilton was 9 years old, his family and friends placed a wager just under 100 pounds ($170.00) that he would one day win a Formula 1 race and the F1 Championship. When Hamilton completed both feats, Ladbrokes was on the hook for 125,000 pounds ($213,500).