Bookmakers breathed an almighty sigh of relief as Bravery saved them from multi-million pound liabilities on Ryan Moore by inching out Oh This Is Us in the Betway Lincoln at Doncaster.
Moore had taken the first three races on Tupi, Ballet Concerto and Kool Kompany at accumulative odds of 575-1, causing panic in the bookmaking ranks ahead of the first big race of the turf season.
The price on Oh This Us tumbled and he was sent off 7-2 favourite, and for a while it looked like being a dream result for punters.
However, Danny Tudhope came to the layers' rescue as he steered 20-1 shot Bravery to the far side from his high draw to collar Oh This Is Us close home to gain the verdict by a neck.
Barry Orr, spokesman for Betfair, said: "We were staring into a Moore-made vortex of never-seen-before proportion and it's probably safe to assume that Moore getting chinned by a neck on Oh This Is Us was an industry swing of around £40million.
''Annie Power's unfortunate tumble in Cheltenham (in 2015) went down in bookmaking history as an industry saver, but pictures of Bravery will be going up in trading rooms up and down the land tonight.''
Coral alone claim they would have incurred losses of £3million had Oh This Is Us hung on and delivered a 2,591-1 four-timer.
"Ryan Moore's 575-1 treble made it a very bad day for bookmakers but make no mistake a victory for Oh This Is Us would have turned a bad day into one of the worst racing days ever in betting history," said Coral spokesman Simon Clare.
"This was very much a traditional betting-shop drama with thousands of small stakes recreational Saturday punters putting Lucky 15s, Yankees, and multiples on the TV mounts of the punters' most popular jockey, Ryan Moore.
"As it is, these Ryan Moore backers have had a very good day indeed but just missed out on a massive pay-day in the last few strides of the Lincoln.
"Britain's bookies will be toasting Bravery long into the night, but we weren't feeling brave during that last furlong, in fact we were panicking as Ryan Moore hit the front on Oh This Is Us.
"Paying out many millions of pounds would have been the worst way possible to go into
Grand National week. That was possibly the most valuable photograph in betting history."
Other bookies told a similar tale.
Paddy Power spokesman Paul Binfield said: "That was a very important neck as it saved us seven figures. There is a God!"
Pat Cooney of bet365 tweeted:"Don't do hype, but take it from me, that Lincoln result was biggest swing in our @bet365 history, Annie Power's fall at Cheltenham a distant 2nd."