A bet of $500,000 to win $4 million was placed with bookmaker Chris Lester on Al Riffa to win the Melbourne Cup as punters plunged on the top weight at Monday’s Call of the Card in response to the heavy rain that fell on Flemington in the morning.

Lester said the Joseph O’Brien-trained six-year-old had “shortened up a bit over the last little while” before Easygo, the parent company of Stake.com, launched the half a million dollar bet at the $8 he offered for the noted wet tracker.

Australian Bloodstock, who part-own Al Riffa, then got into the action, putting on $200,000 in cash with the bet shared among bookmakers Lester and Swiftbet’s Natalie Hinkley. Wolfden and Tony Gee also had $150,000 on the stayer as his price shortened into $7.

Those behind the $200,000 bet including Jamie Lov

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