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Gerry McIlroy wins $342K on 2004 bet: Rory winning British Open bet pays 500-1

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Gerry McIlroy's pride and confidence in his teenage son's golfing abilities landed him a grand pay-day a decade later. Ten years ago the elder McIlroy and his buddies put 400 pounds, almost $700 down on a bet that the then 15-year-old Rory McIlroy would win the British Open by the time he was 25, reports Fox News on July 20.

The 25-year-old McIlroy had a six-shot lead heading into the final round of the British Open today. When Gerry and his friends put that money down on that teenage golfer the odds were 500-1. Rory continued with his stellar game of golf at the British Open today and he walked away the 2014 winner. Rory wasn't the only one to win a purse in his family, reports USA Today.

His dad and three of his buddies won 200,000 pounds, which comes to about $341,730, according to ESPN News today. The wording of the bet stipulated that Rory would win the British Open by the time he was 25 and because he is still 25, the bet was still intact. This was something that the elder McIlory confirmed with the legal betting house who took the bet a decade ago.

Rory McIlory was 25 years, 2 months and 16 days old when he stepped out on the golf course at the British Open's final round, today, Sunday July 20. Can you imagine the pride this dad is feeling today, not to mention the anxiety as this dad and his cronies watched with that very good chance of walking away with a good deal of money, which they did!

Rory's dad and his four friends must have seen something in that 15-year-old boy to make such an elaborate bet that was a decade in the making. This very long-shot wager came down to the wire because this was the very last British Open that Rory McIlroy could win while still falling under the age stipulation of that bet. Each man will get their fair share of $85,400. Rory gave his dad one of the biggest hugs ever seen on a golf course after winning the 2014 British Open.