At one stage in betting, Redouble's price plunged from $8.50 into $3.80 before drifting late to $6 as support arrived for other runners.
Baker charged through the enclosure knocking over his fellow part-owners like tenpins as they began to celebrate in style after winning the Magic Millions Cup.
“I've spent a lot of money at the sales and my wife owns a share of Redouble so I don't have to sell the house now,” Baker said.
“What a fantastic country this is. Absolute fantastic.”
Redouble earned a trip north after winning at Randwick on December 29.
“I'm just the lucky benefactor of a very, very good horse,” Baker said.
Earlier in the day Baker won the Magic Millions Snippets with first-up specialist Egyptian Symbol.
Redouble was bought for $200,000 as a yearling at the Gold Coast and has now earned his connections $953,500.