A GLASGOW pensioner who won £240,000 after betting on a Tory election win has finally collected his fortune.

The lucky man, who has not yet been named, scooped biggest pay out of any election bet.

But he waited for weeks before cashing in his coupon.

A spokesman for Ladbrokes confirmed that they have now paid out - more than a month after the bet was placed.

The pensioner made the 7/1 bet in the Hope Street chain of Ladbrokes on April 29.

He takes home £210,000 plus his original bet of £30,000.

A spokesman for Ladbrokes confirmed the bet had won and said: "I can confirm that the gentleman has been paid in full and has specifically asked not to be identified.

"Once again we congratulate him on his record-breaking election win."

Early forecasts failed to predict a Tory majority but it was later predicted in an exit poll on May 7, just hours before the first results were announced.

Britain's biggest political punter, who made £193,000 by correctly guessing the outcome of the Scottish referendum, has lost his winnings and more by incorrectly guessing the outcome of the General Election.

The unnamed man, who according to bookmaker William Hill has placed the two biggest political bets of all time, placed a £200,000 bet at 2/9 on a hung parliament and then added a further £5,500.

He previously bet £900,000 on the outcome of September's Scottish referendum, winning £193,000.