How Leicester winning the Premier League cost the bookies £50 million
The biggest upset in sporting history is now complete. A 2-2 draw between Chelsea and Spurs on Monday night made Leicester City Premier League champions. Bookmakers have lost over £50 million as the 5,000/1 rank outsiders were crowned champions.
Coral PR director Simon Clare said “The unique thing about Leicester is that people were betting throughout the season, and even in October we were still offering 2,000-1”
Bookie Bashing at the premier league
Coral received £500,000 in bets on the League outright market in total. Leicester winning the league cost Coral a £2.2 million pay out, resulting in a £1.7 million net loss. Furthermore, Sky Bet are also reporting a £4.7 million net loss on the League outright market. One Leicester fan wins £35,440 and plans to put down a house deposit! Also, earlier this season one fan cashed out for £72,000 and another£29,000 from a £20 bet!
Below is are a few examples:
How Leicester winning the Premier League cost the bookies £50 million!
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