Tony Veitch earns $60,000 in a couple of minutes as horse Avantage wins at Karaka Million

Avantage's win in the Karaka Million event has seen Tony Veitch win more than $60,000. Photo / Facebook

Former Radio Sport and Newstalk ZB host Tony Veitch has won big in New Zealand's richest horse racing event.

Avantage tonight won the Karaka Million's 2-year-old Classic at Ellerslie.

Veitch is a member of the syndicate which owns the horse and he wrote on his social media page earlier today that if the horse won, he would be set to pocket $60,000.

Veitch also placed a $350 bet on Avantage to win the race, at odds of $3.60; winning $1260.

Avantage is trained by Te Akau Racing.

Avantage. Photo / Race Images

Veitch bought into the horse last year.

In October, Veitch told horsebetting.com.au he didn't have a "clue" about how the horse racing industry prior to buying in.

"I think I'm symbolic of a new breed that are coming on board because it's something different, something new.

"I wanted some different stuff in life. I was getting bored with the work/life balance and so I decided to buy in.

"It's not about the money, it's just about having that fun knowing you have a stake in the run."