KING Charles suffered Royal Ascot heartache for the second straight year after a huge gamble on his horse Reaching High went up in smoke.

Bred by his late man Queen Elizabeth II, the superstar runner was the tough luck story of last year’s Ascot Stakes.

Repeatedly denied a clear run in the closing stages under Ryan Moore after being sent off 11-4 favourite, Reaching High ultimately finished ninth.

Trained by Willie Mullins and kept off the track since, money absolutely flew in for the five-year-old gelding as punters became certain he would make amends 12 months on.

He jumped out well and looked to have a good position in the handicap worth a shade over £60,000 to the winner on the first day of the Royal meeting.

And hopes in the Royal box will have surged as he made decent headway in front of the watching-on King and Queen Camilla.

But when push came to shove in the 2m4f contest, the horse went out like a light and ultimately finished stone cold last, beaten almost 60 lengths.

Punters will have been cursing their luck after the horse was backed in relentlessly from 9-4.

It was a win for bookies, though.

They breathed a huge sigh of relief as the relatively unfancied Kizlyar completed a 1-2 for Irish trainer Joseph O’Brien when winning at 25-1, seeing off 25-1 stablemate Defiantly in the process.

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The ruling couple might not have to wait long to ease the pain of Tuesday, however.

Their hugely exciting Point Of Law is being backed for the Group 2 Queen’s Vase on Wednesday.

Trained by father-son duo John & Thady Gosden, the three-year-old colt, himself a son of greatest horse ever Frankel, will be ridden by James Doyle.

Point Of Law looks a classy stayer and won his most recent race, at Newbury last month, at odds of 4-7.

He is as short as 8-1 and victory would be worth a cool £150,000 to His Majesty.