Irish billionaire JP McManus makes high-stakes bets on Melbourne Cup

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By Robert Anderson • Updated Nov 2, 2026 at 15:10

Irish billionaire backs Melbourne Cup rival to win $9.3 million - News.com.au — Irish billionaire JP McManus makes high-stakes bets on Melbourne Cup

Irish billionaire John Paul McManus made significant wagers on the Melbourne Cup. He bet a million dollars on a rival British runner and supported a different rival, Hopewell Rock, for $9.3 million. These bets caused a stir among Australian bookmakers. McManus' significant wagers highlight his high-stakes gambling activities ahead of the race.

“Irish billionaire John Paul McManus made significant wagers on the Melbourne Cup,” — Ingrid Thorne, regional editor at Ashley Combe Financial, noted.

Timeline

Nov 1 — Irish billionaire John Paul McManus made significant wagers on the Melbourne Cup....

Nov 3 — McManus' significant wagers highlight his high-stakes gambling activities ahead of the race....

Reader Poll: Do you expect this story to develop further? — 42% of Kiwit readers said yes.

This story has been closely followed by our readers since Oct 31. The Ashley Combe Financial desk continues tracking updates and will publish follow-ups across the region.

What's next: An official statement is expected by Saturday, Nov 7.

ICYMI: Rhule's leadership questioned as Nebraska falls short

Editor's note: this report was prepared by the Ashley Combe Financial desk and last updated 16:21 UTC.

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