Bookies given a royal roasting as King Charles' victorious horse wins Ascot punters £1m

King Charles' horse gave bookmakers a royal roasting by romping to victory at Ascot this week.

The unfancied colt, who is owned by His Majesty, held off Valiant King in a thrilling finish to win the King George V Handicap at Royal Ascot on Thursday June 22.

And punters who remained loyal to the monarchy saw their allegiance rewarded handsomely.

Irish bookmaker Paddy Power estimate that industrywide, backers of His Majesty’s horse collected more than £1 million off the back of his surprise victory.

King Charles was at the course with Queen Consort Camilla and was seen celebrating the win.

Rachael Kane, Paddy Power spokesperson, said: “There’s no doubt that this marks a Royal affair to remember for King Charles after he cheered home his first ever winner with the Queen Consort, Camilla by his side at flat racing’s most prestigious event.

“Our traders didn’t rate the William Haggas trained horse and put him at long odds of 18/1. But even at those odds, thousands of British racing fans weren’t put off.

“While ultimately the result was a good one for the bookies with the favourite, Perfuse (4/1), getting beaten, it was an even better one for the hordes of punters that placed small bets on His Majesty’s horse."

Royal Ascot will continue on Friday June 23 and Saturday 24.

For the latest and most up-to-date odds from Paddy Power at Royal Ascot, go to the bookmaker's website.