Soccer

Leicester City winning Premier League leaves bookmakers with biggest loss in the history of English football

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tottenham, leicester city fc, premier league table, premier league, manchester united, tottenham
tottenham, leicester city fc, premier league table, premier league, manchester united, tottenham

With Tottenham Hotspur failing to beat West Bromwich Albion in their recent Premier League encounter, Leicester City’s miraculous title win is just moments away from reality. However, with this scenario, the UK bookmaking industry will face its biggest loss in English football history.

William Hill, one of the UK bookmakers quoted Leicester as 5,000-1 outsiders of winning the Premier League at the start of the season. This means that if the Foxes are able to beat Manchester United at Old Trafford this coming weekend, the firm is set to face a loss of $4.3 million.

“We stand to lose a small fortune if Leicester does what everybody must now be expecting them to do. 5,000-1 is the biggest priced winner in betting history!” Joe Crilly, William Hill spokesman said, as reported by sbs.com.au.

In total, the UK bookmaking industry is set for a loss of $14.58 million if Leicester achieves what was termed as unachievable by everyone. However, 47 people decided to go against the rest and bet for Leicester winning the Premier League. 23 out of the initial 47 have accepted a guaranteed payout and have cashed out their bets. 24 meanwhile, are still hanging on to hope that the miracle is just a few days away from happening.

One month ago, a punter who put a $73 bet cashed out $105,000 while another punter is set to win $97,000 from a $15 bet. A man from Guildford, England, however, is set to win the highest amount after placing a $110 bet which will result in a $205,000 payout.

With just four more matches left in the Premier League, the bookmakers will be feeling extremely nervous as the big payout day approaches. But, will this huge loss cause a dent in the UK betting industry? Probably not, since the industry will certainly profit from a lot of failed attempts and multiple bets on the heavyweights lifting the trophy.

Photo courtesy: fourthandfifteen/Flickr.com

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