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How Did This Homeless Turn $5 Into $100.000 That Changed His Life?

By Orgesta Tolaj


29 April 2024

$5 bet wins melbourne cup

© Ev & John Doe / Unsplash

Who doesn’t think about winning the lottery at least once in their lifetime? The money, the fame, and the stability are something we all definitely yearn for. But besides the lottery, there is another way to make an amazing amount of money. Every year, the Melbourne Cup captures the attention of the nation. But one man’s incredible story stands out among the rest. How did a homeless man turn a mere $5 bet into a whopping $106,000 windfall that led him to win the Melbourne Cup? This is his full story.

A Man With a Mere $5 Bet Wins $100.000 Melbourne Cup

In New Zealand, a homeless man named Robert, residing in Wellington, experienced a life-changing event after placing a $5 bet on the Melbourne Cup at the Petone Working Men’s Club. Robert accurately predicted the first four finishers of the race in order, earning himself NZ$106,000 (equivalent to $97,781.29 AUD). This windfall ended his nine months of living in a garage. Reflecting on his unexpected fortune, Robert described the experience as “quite, quite an emotional process.”

$5 bet wins melbourne cup
© Wikimedia Commons

Rober also said: “I couldn’t believe it, and I thought to myself, ‘There must be something wrong here’. I’ve gone from being homeless, sitting in a garage to finally being able to afford a deposit on a house now.”

Robert watched the Melbourne Cup race at the Petone Working Men’s Club in the company of friends. The race was won by Without a Fight, ridden by jockey Mark Zahra. This marked Zahra’s second consecutive Melbourne Cup victory, as he secured the win in front of a large crowd at Flemington.

What Happened After He Won?

Robert quickly shared the news of his Melbourne Cup win with his girlfriend and became emotional. They celebrated with drinks and pizza, contemplating how to use the money. The Melbourne Cup is the only time he typically bets. This windfall changed his life, enabling him to afford a deposit for a home after experiencing homelessness. He sees numerous possibilities with the money and plans to use some for travel, as he’s never left New Zealand. Reflecting on the $5 bet, he described it as the best investment of his life.

Another Man Had a Different Story

One man, professional punter Steve Bradley, experienced disappointment as his $320,000 bet on Melbourne Cup favorite Vauban did not pay off. Initially intending to wager $400,000 on the foreign horse, he settled for slightly less at odds of $5 and $4.80.

$5 bet wins melbourne cup
© Public Domain

Bookmaker Warren Woodcock described the reaction in the room as chaotic when Vauban, the heavily favored horse, failed to win. Other punters also had high hopes for Vauban, with significant bets of $230,000 at $4.80 and $200,000 at $5 placed on the horse, despite its disappointing 14th-place finish.

Do you think you are lucky enough to turn a $bet into a win at the Melbourne Cup?

You might also want to read: Oscars 2024: Oppenheimer Breaks Two-Decade-Old Record

Orgesta Tolaj

Your favorite introvert who is buzzing around the Hive like a busy bee!