Mr Crespin, from Surrey, stands to make £5,000 on the £50 wager that the Prince's song 1999 - last a hit in 1985 - makes the number one spot in the British chart at any time next year.

He is not the only punter to have bet on 1999 - William Hill spokesman Graham Sharpe said the company has had numerous bets placed on the record charting in the New Year.

It is bracing itself for a six-figure payout next week as the single was re-released in Britain on Monday to cash in on New Year's Eve parties.

The bookmaker has also slashed its odds to 6-1 for the song hitting the top at Christmas 1999.

"Back when the first bet was placed anything could have happened - you never know how long pop stars will stay around," said Mr Sharpe.

"But we're getting nearer now and he's still a big name. We started to get a stream of calls saying 'I've got a theory about Prince's 1999.'"

Bets that the song will make number one are already set to cost William Hill more than £100,000.