Winner turned into loser.
The victim put his pounds 225 winnings in the back pocket of his jeans but the cash was stolen less than 100 yards from the bookmakers shop.
The incident happened in Upper Abbey Street, near the site of the boarded-up Kings-holm pub, at about 4.15pm on Tuesday.
Police say the victim had left the Ladbrokes shop in Abbey Street only minutes earlier.
A Warwickshire Police spokeswoman said: "He felt something touching a back pocket of his jeans and turned around to see a man, who he describes as Asian, walk off.
"Later, the man discovered pounds 225 - his winnings from the betting shop - had been stolen from his back pocket."
Anyone with information is asked to phone Det Con Scott Lymbery at Nuneaton CID on 024 7664 1111.