Rory McIlroy's Dad Cashes In on $171,000 Bet After Son's British Open Win

After golfer Rory McIlroy won the British Open on Sunday, his father, Gerry McIlroy, was a happy man — not only because his son won one of the most prestigious golf tournaments in the world, but also because he raked in $171,000 from a bet he made on his son 10 years ago.

In 2004, when Rory was just 15, his dad reportedly placed a bet with the British gaming company Ladbrokes that his son would win the British Open within the next ten years.

CONGRATULATIONS RORY: We're paying out 180k to Rory's Dad and pals. There'll be some party at the McIlroy's tonight! pic.twitter.com/wOG7vvIygd — Ladbrokes (@Ladbrokes) July 20, 2014

Gerry bet £200 ($341) with 500-1 odds that his son would win the British Open within 10 years, according to Ladbrokes spokesperson Rachel Bridge.

Now, after Rory's win on Sunday, Gerry is able to lay claim to a whopping $171,000.

To give you some sense of perspective, it was more likely that Uruguay's star striker, Luis Suarez, would bite someone in the World Cup (175-1 odds, which 167 people won).

Gerry isn't the only one who won big on his son's accomplishment. In 2005, two of Gerry's friends made similar bets on Rory winning the British Open — £200 at 250-1 odds for him to win within ten years (by 2015) and £200 at 150-1 to win it before Rory turned 50. After his win, these bets will pay out a combined $136,700 to his two friends.

Bridge confirmed to ESPN that Ladbrokes will pay the sums immediately.

Gerry McIlroy congratulates his son, Rory, after his win during the final round of the 2012 DP World Tour Championship on the Earth Course at Jumeirah Golf Estates in 2012. Image: David Cannon/Getty Images

These types of bets are called "special odds requests" and are quite common, as Europeans often place bets on their children winning major tournaments, according to Bridge. Ladbrokes takes about 300 special odds requests per year; only about one actually pays out years later.

While Rory is the No. 2 ranked golfer in the world, the bets were placed as he was just starting his amateur golf career, which explains the high odds. Gerry's bet was 500-1 since at the time — although his budding career looked promising — Rory had only won the Junior Ryder Cup, a team golf tournament between Europe and the U.S., in 2004.

One year later, after winning two prestigious amateur golf tournaments in Ireland, Rory was world-renowned — and as a result, the odds for Gerry's friends went down considerably.

Winning at 25 is particularly young, especially compared to the past four winners of the British Open: Phil Mickelson was 44, in 2013; Ernie Els was 44, in 2012; Darren Clarke was 45, in 2011; Louis Oosthuizen was 31, in 2010.

That's why Ladbrokes took the bet. It was highly unlikely not that Rory would ever win, but that he would do so by the age of 25. According to Bridge, Ladbrokes can make a great deal of money from special odds requests like Gerry's, but that it still remains a huge risk if one of these bets ends up actually paying out.

"Unfortunately, on this one, we have egg on our face," Bridge told ESPN. "Rory's father and his friends are having champagne on us tonight."