The McIlroy Wager

Gerry (left) and Rory McIlroy (right)

Imagine placing a wager on your child to win a golf championship (British Open) and beating the odds, 500-1.

Gerry McIlroy's imagination became a reality this past Sunday when his son, Rory, captured the British Open for his third major golf title.

In 2004 when Rory was only 15 years of age, Gerry placed a 200-pound ($340.71, in U.S. dollars) bet at 500-1 odds on his son to win the golf tournament within ten years. In addition, family friends placed bets in 2005 at 250-1 odds.

In addition to Rory's $1.66 million in prize money for winning the British Open by two strokes, Gerry McIlroy's friends pocketed over $80,000 apiece -- with Gerry earning close to $171k.

I'm sure this has been an unforgettable weekend for the McIlroy Family.

The victory moved McIlroy three-fourths of the way to golf’s modern career Grand Slam. He won the U.S. Open in 2011 and the PGA Championship in 2012 and now needs a victory at the Masters in Augusta, Ga., to become the sixth man to complete the feat.