Terry Coelli recalls the biggest bet he ever took in his bookmaking career

But he got more than he bargained for in the lead-up to the 2013 Albury Gold Cup.

Coelli attended the Call of the Card alongside the Cup calcutta held at the Commercial Club on cup eve.

Trainer Brett Cavanough was bullish about the chances of his stable star Niblick in the Gold Cup and was keen to have a big bet at the 10/1.

Coelli was only too happy to oblige.

"Cavanough wanted $2000 on Niblick at 10/1," Coelli recalled.

"I've been a bookmaker for 33-years and taking a bet to lose $20,000 is the biggest bet I have ever taken.

"I'm usually happy to take a bet to lose $3000 to $4000 but $20,000 is a whole new ball game.

"But I just didn't give Niblick much hope of winning the race but Brett was obviously confident.

"I thought Coliseo was the horse to beat and bought him in the calcutta which was worth about $15,000 to the winner."

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In the closest and most controversial finish in cup history, Fabriano ($26) edged out Niblick ($10) by a nose with Coliseo ($4.50-fav) a nose further back in third.

But in a dramatic post-race twist, jockey Jeff Penza aboard Coliseo lodged protests against Fabriano and the Cavanough-trained runner-up, Niblick.

"I remember watching and Coliseo looked to suffer interference when attempting to drive through a gap between Fabriano and Niblick at the 200m mark," Coelli said.

"My wife was working with me that day and said straight to me after the race 'that was lucky' because she knew how much was at stake so I had to deal with her emotions as well as my own.

"When I heard that Coliseo's jockey had fired in a protest I was trying to keep my best poker face while my mind was going at a million miles an hour.

"The worst part was the stewards deliberated for almost 35 minutes after the race and the longer it went, the sicker I felt that they could award the race to Niblick.

"If Fabriano wins, I win $8000, if Coliseo wins, I win $9000 plus the $15,000 first prize for the calcutta.

"But instead Niblick wins which was a $32,000 difference after having to payout Cav and missing out on the calcutta.

"I never thought in a big race like that the stewards would uphold a protest third against first."

Coelli said to rub salt into his wounds he had to call past Cavanough's stables after the meeting to pay him the money he owed.

"It's fair to say the big fella was up and about when I arrived," Coelli said.

"I handed over the cash and he gave it straight to one of his kids to go and put inside.

"Then he handed me five pink caps with the stable logo on them.

"I think the only bloke that lost more than me that day was Fabriano's trainer Peter Donnelly."